PineStone Asset Management Inc. Grows Holdings in Colgate-Palmolive (NYSE:CL)

PineStone Asset Management Inc. grew its stake in Colgate-Palmolive (NYSE:CL - Free Report) by 8.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,078,521 shares of the company's stock after acquiring an additional 79,817 shares during the period. Colgate-Palmolive accounts for 0.9% of PineStone Asset Management Inc.'s holdings, making the stock its 28th biggest holding. PineStone Asset Management Inc. owned about 0.13% of Colgate-Palmolive worth $98,048,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in CL. FMR LLC boosted its stake in shares of Colgate-Palmolive by 65.6% during the third quarter. FMR LLC now owns 6,749,275 shares of the company's stock valued at $700,642,000 after purchasing an additional 2,674,807 shares in the last quarter. Barclays PLC boosted its stake in shares of Colgate-Palmolive by 38.7% during the third quarter. Barclays PLC now owns 7,644,189 shares of the company's stock valued at $793,542,000 after purchasing an additional 2,132,747 shares in the last quarter. State Street Corp boosted its stake in shares of Colgate-Palmolive by 3.8% during the third quarter. State Street Corp now owns 48,436,276 shares of the company's stock valued at $5,028,170,000 after purchasing an additional 1,784,411 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Colgate-Palmolive by 32.5% during the fourth quarter. Nordea Investment Management AB now owns 5,091,683 shares of the company's stock valued at $462,121,000 after purchasing an additional 1,247,731 shares in the last quarter. Finally, AustralianSuper Pty Ltd boosted its stake in shares of Colgate-Palmolive by 941.9% during the fourth quarter. AustralianSuper Pty Ltd now owns 1,138,655 shares of the company's stock valued at $103,515,000 after purchasing an additional 1,029,364 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock traded up $0.93 during trading on Wednesday, hitting $87.32. 4,306,951 shares of the company's stock were exchanged, compared to its average volume of 4,940,192. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92. The business has a 50-day simple moving average of $89.24 and a 200-day simple moving average of $96.11. Colgate-Palmolive has a 52-week low of $83.70 and a 52-week high of $109.30. The stock has a market capitalization of $70.86 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 4.10 and a beta of 0.44.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its earnings results on Friday, January 31st. The company reported $0.91 earnings per share (EPS) 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 in the previous year, the firm earned $0.87 earnings per share. On average, research analysts forecast that Colgate-Palmolive will post 3.76 EPS for the current year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a yield of 2.29%. Colgate-Palmolive's payout ratio is 56.82%.

Wall Street Analyst Weigh In

CL has been the topic of a number of recent research reports. Morgan Stanley dropped their price objective on shares of Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Piper Sandler dropped their price objective on shares of Colgate-Palmolive from $121.00 to $112.00 and set an "overweight" rating on the stock in a research note on Monday, January 6th. Barclays lowered their target price on shares of Colgate-Palmolive from $96.00 to $83.00 and set an "equal weight" rating for the company in a research note on Friday, January 17th. Raymond James restated an "outperform" rating and issued a $105.00 target price (down from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. Finally, StockNews.com downgraded shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Thursday, January 9th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Colgate-Palmolive currently has a consensus rating of "Hold" and a consensus target price of $101.16.

Colgate-Palmolive 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.