Resona Asset Management Co. Ltd. Takes $27.76 Million Position in Colgate-Palmolive (NYSE:CL)

Resona Asset Management Co. Ltd. acquired a new position in Colgate-Palmolive (NYSE:CL - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 304,866 shares of the company's stock, valued at approximately $27,760,000.

A number of other large investors also recently modified their holdings of CL. Savoir Faire Capital Management L.P. boosted its stake in Colgate-Palmolive by 44.3% during the fourth quarter. Savoir Faire Capital Management L.P. now owns 23,290 shares of the company's stock valued at $2,117,000 after buying an additional 7,147 shares in the last quarter. Wescott Financial Advisory Group LLC lifted its holdings in shares of Colgate-Palmolive by 3.5% during the fourth quarter. Wescott Financial Advisory Group LLC now owns 3,517 shares of the company's stock valued at $320,000 after purchasing an additional 119 shares during the last quarter. Pitcairn Co. boosted its position in shares of Colgate-Palmolive by 3.5% in the 4th quarter. Pitcairn Co. now owns 10,752 shares of the company's stock valued at $977,000 after purchasing an additional 364 shares during the period. World Investment Advisors lifted its stake in Colgate-Palmolive by 30.9% during the fourth quarter. World Investment Advisors now owns 9,487 shares of the company's stock valued at $862,000 after buying an additional 2,239 shares in the last quarter. Finally, OneAscent Financial Services LLC boosted its holdings in shares of Colgate-Palmolive by 284.9% in the fourth quarter. OneAscent Financial Services LLC now owns 14,829 shares of the company's stock worth $1,348,000 after buying an additional 10,976 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Stifel Nicolaus decreased their target price on Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating for the company in a research report on Monday, February 3rd. StockNews.com raised Colgate-Palmolive from a "hold" rating to a "buy" rating in a research report on Friday, April 4th. Piper Sandler cut their price objective on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a research note on Monday, March 31st. Royal Bank of Canada reiterated a "sector perform" rating and set a $101.00 price target on shares of Colgate-Palmolive in a report on Wednesday, January 29th. Finally, TD Cowen decreased their price objective on shares of Colgate-Palmolive from $110.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $101.83.

Colgate-Palmolive Trading Up 2.0 %

Colgate-Palmolive stock traded up $1.87 during mid-day trading on Friday, hitting $93.67. The stock had a trading volume of 1,706,657 shares, compared to its average volume of 4,569,516. The stock has a market capitalization of $75.98 billion, a PE ratio of 26.62, a P/E/G ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a 12 month low of $85.32 and a 12 month high of $109.30. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. The stock has a 50-day simple moving average of $90.33 and a two-hundred day simple moving average of $92.72.

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, beating 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 period last year, the company earned $0.87 EPS. As a group, sell-side analysts forecast that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be paid a dividend of $0.52 per share. This is a positive change 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 2.22%. Colgate-Palmolive's dividend payout ratio (DPR) is presently 59.09%.

Colgate-Palmolive announced that its board has authorized a stock buyback program on Thursday, March 20th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

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.