Colgate-Palmolive (NYSE:CL) Stock Holdings Lessened by Martingale Asset Management L P

Martingale Asset Management L P cut its holdings in Colgate-Palmolive (NYSE:CL - Free Report) by 4.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 243,528 shares of the company's stock after selling 11,035 shares during the period. Martingale Asset Management L P's holdings in Colgate-Palmolive were worth $22,139,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. APG Asset Management N.V. increased its position in Colgate-Palmolive by 65.6% during the fourth quarter. APG Asset Management N.V. now owns 1,364,701 shares of the company's stock worth $119,812,000 after buying an additional 540,359 shares in the last quarter. Bernard Wealth Management Corp. purchased a new stake in Colgate-Palmolive during the 4th quarter worth about $33,000. Abacus FCF Advisors LLC raised its stake in Colgate-Palmolive by 68.3% in the 4th quarter. Abacus FCF Advisors LLC now owns 97,421 shares of the company's stock valued at $8,857,000 after purchasing an additional 39,530 shares during the last quarter. Capula Management Ltd purchased a new position in Colgate-Palmolive in the 4th quarter valued at about $374,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Colgate-Palmolive by 70.2% during the fourth quarter. Renaissance Technologies LLC now owns 2,808,110 shares of the company's stock worth $255,285,000 after buying an additional 1,158,060 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Stock Up 1.0 %

Shares of Colgate-Palmolive stock traded up $0.95 on Monday, hitting $94.95. 1,017,667 shares of the company's stock traded hands, compared to its average volume of 5,271,285. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40. The firm's 50-day moving average is $90.48 and its 200 day moving average is $92.57. The stock has a market cap of $77.01 billion, a P/E ratio of 26.97, a PEG ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a 52-week low of $85.32 and a 52-week high of $109.30.

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Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.01. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. During the same quarter last year, the company posted $0.87 earnings per share. Equities analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $2.08 annualized dividend and a yield of 2.19%. This is a boost from Colgate-Palmolive's previous quarterly dividend of $0.50. Colgate-Palmolive's dividend payout ratio is presently 59.09%.

Colgate-Palmolive announced that its Board of Directors has authorized a share buyback plan on Thursday, March 20th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to purchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. StockNews.com upgraded Colgate-Palmolive from a "hold" rating to a "buy" rating in a report on Friday, April 4th. Raymond James reaffirmed an "outperform" rating and set a $105.00 price target (down previously from $110.00) on shares of Colgate-Palmolive in a research report on Monday, February 3rd. Stifel Nicolaus decreased their price target on shares of Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company upped their price objective on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a report on Wednesday, April 2nd. Finally, Piper Sandler reduced their target price on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Colgate-Palmolive has an average rating of "Moderate Buy" and a consensus target price of $101.67.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.