Adage Capital Partners GP L.L.C. Purchases 377,900 Shares of Colgate-Palmolive (NYSE:CL)

Adage Capital Partners GP L.L.C. boosted its stake in Colgate-Palmolive (NYSE:CL - Free Report) by 66.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 942,870 shares of the company's stock after purchasing an additional 377,900 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.12% of Colgate-Palmolive worth $85,716,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC grew its stake in shares of Colgate-Palmolive by 0.3% during the fourth quarter. Axxcess Wealth Management LLC now owns 38,786 shares of the company's stock valued at $3,526,000 after acquiring an additional 117 shares in the last quarter. Commonwealth Financial Services LLC grew its stake in shares of Colgate-Palmolive by 4.5% during the fourth quarter. Commonwealth Financial Services LLC now owns 2,716 shares of the company's stock valued at $247,000 after acquiring an additional 118 shares in the last quarter. Wescott Financial Advisory Group LLC grew its stake 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 acquiring an additional 119 shares in the last quarter. D Orazio & Associates Inc. grew its stake in shares of Colgate-Palmolive by 4.2% during the fourth quarter. D Orazio & Associates Inc. now owns 2,982 shares of the company's stock valued at $271,000 after acquiring an additional 120 shares in the last quarter. Finally, Lantz Financial LLC grew its stake in shares of Colgate-Palmolive by 0.6% during the fourth quarter. Lantz Financial LLC now owns 20,140 shares of the company's stock valued at $1,831,000 after acquiring an additional 122 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Price Performance

Shares of CL traded up $1.29 during trading hours on Tuesday, hitting $92.25. 1,965,205 shares of the company were exchanged, compared to its average volume of 4,650,192. The company has a market cap of $74.82 billion, a price-to-earnings ratio of 26.21, a P/E/G ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a fifty-two week low of $85.32 and a fifty-two week high of $109.30. 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's fifty day moving average is $92.14 and its 200 day moving average is $92.05.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.05. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. The company had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. During the same period in the prior year, the firm posted $0.86 EPS. Colgate-Palmolive's quarterly revenue was down 3.0% on a year-over-year basis. On average, equities analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th will be given a $0.52 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This is an increase from Colgate-Palmolive's previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 2.25%. Colgate-Palmolive's dividend payout ratio (DPR) is currently 59.09%.

Colgate-Palmolive declared that its board has approved a stock repurchase plan on Thursday, March 20th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CL. Stifel Nicolaus lowered their target price on Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. upped their price objective on Colgate-Palmolive from $95.00 to $103.00 and gave the stock an "overweight" rating in a research note on Monday. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $101.00 target price on shares of Colgate-Palmolive in a research note on Wednesday, January 29th. Piper Sandler decreased their target price on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. Finally, Morgan Stanley decreased their target price on Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $102.39.

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.