Sompo Asset Management Co. Ltd. Trims Stock Holdings in Colgate-Palmolive (NYSE:CL)

Sompo Asset Management Co. Ltd. cut its holdings in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 7.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,597 shares of the company's stock after selling 4,190 shares during the period. Sompo Asset Management Co. Ltd.'s holdings in Colgate-Palmolive were worth $4,782,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CL. Chicago Partners Investment Group LLC increased its stake in Colgate-Palmolive by 16.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 6,752 shares of the company's stock valued at $591,000 after purchasing an additional 943 shares during the period. Aviva PLC grew its holdings in shares of Colgate-Palmolive by 13.4% during the fourth quarter. Aviva PLC now owns 973,421 shares of the company's stock worth $88,494,000 after buying an additional 114,855 shares during the last quarter. Peak Financial Advisors LLC acquired a new position in Colgate-Palmolive in the 4th quarter valued at about $1,315,000. Fiduciary Alliance LLC purchased a new stake in Colgate-Palmolive during the 4th quarter valued at approximately $4,066,000. Finally, Impact Partnership Wealth LLC acquired a new stake in Colgate-Palmolive during the 4th quarter worth approximately $803,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CL shares. JPMorgan Chase & Co. dropped 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, April 11th. Morgan Stanley cut their price objective on shares of Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. UBS Group lifted their target price on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Piper Sandler dropped their price target on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a research note on Monday, March 31st. Finally, TD Cowen reduced their price objective on shares of Colgate-Palmolive from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Colgate-Palmolive currently has an average rating of "Hold" and an average price target of $102.17.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $95.76 on Wednesday. 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 company has a market capitalization of $77.67 billion, a P/E ratio of 27.20, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. The firm has a 50-day moving average price of $91.63 and a two-hundred day moving average price of $92.30. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates 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 business posted $0.87 earnings per share. As a group, research analysts expect that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive declared that its board has initiated a share buyback plan on Thursday, March 20th that permits the company to repurchase $5.00 billion in outstanding 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 an indication that the company's management believes its shares are undervalued.

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Thursday, April 17th. This is a boost from Colgate-Palmolive's previous quarterly dividend of $0.50. Colgate-Palmolive's dividend payout ratio (DPR) is currently 59.09%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.