Renaissance Technologies LLC Buys 1,158,060 Shares of Colgate-Palmolive (NYSE:CL)

Renaissance Technologies LLC boosted its holdings in Colgate-Palmolive (NYSE:CL - Free Report) by 70.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,808,110 shares of the company's stock after acquiring an additional 1,158,060 shares during the period. Renaissance Technologies LLC owned 0.34% of Colgate-Palmolive worth $255,285,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Colgate-Palmolive in the 4th quarter valued at $912,375,000. Diamond Hill Capital Management Inc. acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth $348,718,000. AMF Tjanstepension AB boosted its position in shares of Colgate-Palmolive by 1,088.8% in the fourth quarter. AMF Tjanstepension AB now owns 2,569,394 shares of the company's stock valued at $233,584,000 after acquiring an additional 2,353,268 shares during the period. Barclays PLC grew its stake in shares of Colgate-Palmolive by 38.7% in the third quarter. Barclays PLC now owns 7,644,189 shares of the company's stock valued at $793,542,000 after acquiring an additional 2,132,747 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Colgate-Palmolive during the fourth quarter worth about $132,405,000. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Trading Up 2.4 %

NYSE:CL traded up $2.19 during trading hours on Friday, hitting $93.99. 5,664,216 shares of the company were exchanged, compared to its average volume of 4,587,585. The company has a fifty day simple moving average of $90.48 and a 200 day simple moving average of $92.65. Colgate-Palmolive has a one year low of $85.32 and a one year high of $109.30. The stock has a market capitalization of $76.24 billion, a price-to-earnings ratio of 26.70, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40.

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Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates 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 last year, the company earned $0.87 EPS. Sell-side analysts expect that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

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

Colgate-Palmolive Increases Dividend

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

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Stifel Nicolaus cut their price objective on shares of Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating for the company in a report on Monday, February 3rd. Morgan Stanley reduced their price target on Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Raymond James reaffirmed an "outperform" rating and issued a $105.00 price objective (down from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. JPMorgan Chase & Co. reduced their target price on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a report on Friday. Finally, Barclays decreased their price target on Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating on the stock in a research report on Friday. One equities research 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price 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.