BI Asset Management Fondsmaeglerselskab A S Has $35.37 Million Position in Colgate-Palmolive (NYSE:CL)

BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Colgate-Palmolive (NYSE:CL - Free Report) by 70.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 389,020 shares of the company's stock after acquiring an additional 160,340 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Colgate-Palmolive were worth $35,366,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC increased its position in shares of Colgate-Palmolive by 16.2% during the 4th 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 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 acquiring an additional 114,855 shares during the period. Peak Financial Advisors LLC bought a new stake in Colgate-Palmolive in the fourth quarter worth about $1,315,000. Fiduciary Alliance LLC acquired a new stake in Colgate-Palmolive in the 4th quarter valued at about $4,066,000. Finally, Impact Partnership Wealth LLC bought a new position in shares of Colgate-Palmolive during the 4th quarter valued at about $803,000. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Stock Down 1.0 %

NYSE:CL traded down $0.93 during mid-day trading on Thursday, reaching $92.96. The stock had a trading volume of 6,931,599 shares, compared to its average volume of 4,630,394. The stock has a market cap of $75.40 billion, a P/E ratio of 26.40, a PEG ratio of 4.20 and a beta of 0.40. The business's 50 day moving average is $91.78 and its 200 day moving average is $92.31. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58. Colgate-Palmolive has a fifty-two week low of $85.32 and a fifty-two week high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, beating 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 prior year, the company posted $0.87 EPS. As a group, sell-side analysts predict that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive declared that its board has approved 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 reacquire up to 6.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The business also recently disclosed 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. 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 dividend on an annualized basis and a dividend yield of 2.24%. Colgate-Palmolive's dividend payout ratio is currently 59.09%.

Analyst Ratings Changes

Several analysts recently commented on CL shares. Raymond James reissued an "outperform" rating and set a $105.00 target price (down from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. Wells Fargo & Company increased their price objective on Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a research report on Wednesday, April 2nd. Royal Bank of Canada restated a "sector perform" rating and issued a $101.00 target price on shares of Colgate-Palmolive in a report on Wednesday, January 29th. TD Cowen reduced their target price on Colgate-Palmolive from $110.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. Finally, UBS Group lifted their price target on Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $102.17.

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.