Ameriprise Financial Inc. Has $617.36 Million Stake in Colgate-Palmolive (NYSE:CL)

Ameriprise Financial Inc. grew its holdings in Colgate-Palmolive (NYSE:CL - Free Report) by 3.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,798,821 shares of the company's stock after buying an additional 246,908 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.83% of Colgate-Palmolive worth $617,359,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Kohmann Bosshard Financial Services LLC acquired a new position in Colgate-Palmolive during the 4th quarter valued at about $26,000. Centricity Wealth Management LLC acquired a new position in Colgate-Palmolive in the fourth quarter valued at approximately $27,000. Union Bancaire Privee UBP SA bought a new position in Colgate-Palmolive in the fourth quarter valued at approximately $32,000. Briaud Financial Planning Inc acquired a new stake in Colgate-Palmolive during the 4th quarter worth $32,000. Finally, Wintrust Investments LLC bought a new stake in shares of Colgate-Palmolive during the 4th quarter valued at $33,000. 80.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CL has been the subject of a number of recent analyst reports. Citigroup upped their price objective on Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a report on Monday, April 28th. TD Cowen reduced their price objective on shares of Colgate-Palmolive from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, January 8th. Raymond James reiterated an "outperform" rating and issued a $105.00 target price (down from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. Stifel Nicolaus lowered their price objective on shares of Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating for the company in a research report on Monday, February 3rd. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $101.00 target price on shares of Colgate-Palmolive in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Colgate-Palmolive has a consensus rating of "Hold" and an average price target of $102.39.

Colgate-Palmolive Stock Performance

NYSE:CL traded down $0.09 on Thursday, hitting $90.79. The company's stock had a trading volume of 3,550,115 shares, compared to its average volume of 4,627,778. Colgate-Palmolive has a one year low of $85.32 and a one year high of $109.30. The firm has a market capitalization of $73.58 billion, a P/E ratio of 25.79, a price-to-earnings-growth ratio of 4.20 and a beta of 0.39. The stock has a fifty day moving average of $92.28 and a two-hundred day moving average of $91.71. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40.

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

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be paid a $0.52 dividend. 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 2.29%. The ex-dividend date of this dividend is Thursday, April 17th. Colgate-Palmolive's payout ratio is 58.76%.

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 outstanding shares. This repurchase authorization permits the company to purchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

About Colgate-Palmolive

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.