Optimize Financial Inc Takes $400,000 Position in Colgate-Palmolive (NYSE:CL)

Optimize Financial Inc purchased a new position in Colgate-Palmolive (NYSE:CL - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 4,403 shares of the company's stock, valued at approximately $400,000.

Other hedge funds also recently modified their holdings of the company. Legacy Financial Advisors Inc. grew its stake in shares of Colgate-Palmolive by 12.1% in the 4th quarter. Legacy Financial Advisors Inc. now owns 2,447 shares of the company's stock valued at $222,000 after purchasing an additional 264 shares during the period. Scotia Capital Inc. boosted its position in Colgate-Palmolive by 3.3% in the fourth quarter. Scotia Capital Inc. now owns 63,733 shares of the company's stock valued at $5,794,000 after buying an additional 2,028 shares in the last quarter. Phoenix Financial Ltd. grew its stake in Colgate-Palmolive by 15.5% during the fourth quarter. Phoenix Financial Ltd. now owns 2,585 shares of the company's stock worth $235,000 after buying an additional 347 shares during the last quarter. F M Investments LLC grew its stake in Colgate-Palmolive by 16.5% during the fourth quarter. F M Investments LLC now owns 5,677 shares of the company's stock worth $516,000 after buying an additional 806 shares during the last quarter. Finally, APG Asset Management N.V. boosted its holdings in shares of Colgate-Palmolive by 65.6% in the 4th quarter. APG Asset Management N.V. now owns 1,364,701 shares of the company's stock worth $119,812,000 after acquiring an additional 540,359 shares in the last quarter. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Stock Down 0.7 %

CL traded down $0.67 during trading on Tuesday, reaching $94.31. The company had a trading volume of 3,874,783 shares, compared to its average volume of 4,575,274. The business's fifty day moving average price is $90.82 and its 200 day moving average price is $92.53. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58. Colgate-Palmolive has a 12 month low of $85.32 and a 12 month high of $109.30. The company has a market cap of $76.49 billion, a P/E ratio of 26.79, a PEG ratio of 4.20 and a beta of 0.40.

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

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be issued a dividend of $0.52 per share. This is a boost from Colgate-Palmolive's previous quarterly dividend of $0.50. The ex-dividend date is Thursday, April 17th. This represents a $2.08 annualized dividend and a yield of 2.21%. Colgate-Palmolive's dividend payout ratio is presently 59.09%.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CL. Royal Bank of Canada restated a "sector perform" rating and issued a $101.00 target price on shares of Colgate-Palmolive in a research note on Wednesday, January 29th. Raymond James reissued an "outperform" rating and set a $105.00 price target (down from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. UBS Group dropped their target price on Colgate-Palmolive from $104.00 to $100.00 and set a "buy" rating for the company in a research report on Monday, February 3rd. JPMorgan Chase & Co. reduced their target price on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a research note on Friday. Finally, Piper Sandler dropped their price target on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $101.67.

Colgate-Palmolive Company Profile

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.