Westpac Banking Corp Has $11.18 Million Position in Colgate-Palmolive (NYSE:CL)

Westpac Banking Corp reduced its position in Colgate-Palmolive (NYSE:CL - Free Report) by 9.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,978 shares of the company's stock after selling 13,550 shares during the period. Colgate-Palmolive makes up approximately 0.7% of Westpac Banking Corp's holdings, making the stock its 25th largest holding. Westpac Banking Corp's holdings in Colgate-Palmolive were worth $11,180,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CL. OneAscent Financial Services LLC lifted its stake in shares of Colgate-Palmolive by 284.9% during the fourth quarter. OneAscent Financial Services LLC now owns 14,829 shares of the company's stock worth $1,348,000 after purchasing an additional 10,976 shares in the last quarter. Huntington National Bank lifted its position in Colgate-Palmolive by 3.4% during the 4th quarter. Huntington National Bank now owns 178,640 shares of the company's stock worth $16,240,000 after acquiring an additional 5,811 shares in the last quarter. Te Ahumairangi Investment Management Ltd boosted its holdings in Colgate-Palmolive by 11.4% in the 4th quarter. Te Ahumairangi Investment Management Ltd now owns 48,957 shares of the company's stock worth $4,451,000 after acquiring an additional 5,000 shares during the period. RFG Bristol Wealth Advisors LLC acquired a new stake in Colgate-Palmolive in the fourth quarter valued at approximately $289,000. Finally, Meeder Advisory Services Inc. raised its stake in shares of Colgate-Palmolive by 9.0% during the fourth quarter. Meeder Advisory Services Inc. now owns 20,483 shares of the company's stock valued at $1,862,000 after purchasing an additional 1,688 shares during the period. Hedge funds and other institutional investors own 80.41% of the company's stock.

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Colgate-Palmolive Price Performance

CL traded up $1.06 during trading on Tuesday, reaching $90.25. The stock had a trading volume of 2,117,129 shares, compared to its average volume of 4,537,190. The stock has a 50 day moving average of $90.23 and a two-hundred day moving average of $93.04. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40. The firm has a market capitalization of $73.20 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a 1-year low of $85.32 and a 1-year high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its earnings results 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 return on equity of 477.77% and a net margin of 14.38%. During the same quarter in the previous year, the company earned $0.87 earnings per share. As a group, equities analysts anticipate that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive announced that its Board of Directors has approved a stock buyback program on Thursday, March 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to buy up to 6.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.30%. This is a positive change from Colgate-Palmolive's previous quarterly dividend of $0.50. Colgate-Palmolive's payout ratio is currently 59.09%.

Analyst Ratings Changes

CL has been the subject of a number of recent analyst reports. Morgan Stanley lowered their price target on shares of Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. TD Cowen cut their price target on Colgate-Palmolive from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, January 8th. Royal Bank of Canada restated a "sector perform" rating and set a $101.00 price objective on shares of Colgate-Palmolive in a research note on Wednesday, January 29th. UBS Group cut their target price on Colgate-Palmolive from $104.00 to $100.00 and set a "buy" rating on the stock in a research report on Monday, February 3rd. Finally, StockNews.com upgraded shares of Colgate-Palmolive from a "hold" rating to a "buy" rating in a research note on Friday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive has a consensus rating of "Moderate Buy" and an average price target of $102.06.

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.