BLI Banque de Luxembourg Investments Buys New Shares in Colgate-Palmolive (NYSE:CL)

BLI Banque de Luxembourg Investments purchased a new position in shares of Colgate-Palmolive (NYSE:CL - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 539,500 shares of the company's stock, valued at approximately $48,987,000. Colgate-Palmolive makes up about 1.3% of BLI Banque de Luxembourg Investments' holdings, making the stock its 26th biggest position. BLI Banque de Luxembourg Investments owned approximately 0.07% of Colgate-Palmolive at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several research firms have commented on CL. StockNews.com upgraded shares of Colgate-Palmolive from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Raymond James reissued an "outperform" rating and issued a $105.00 price target (down from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. Piper Sandler decreased their target price on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a research report on Monday, March 31st. UBS Group lifted their price target on Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Finally, Barclays lowered their price target on shares of Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $102.39.

Colgate-Palmolive Stock Performance

NYSE CL opened at $90.42 on Friday. The company has a 50-day simple moving average of $92.26 and a two-hundred day simple moving average of $91.85. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40. Colgate-Palmolive has a 12-month low of $85.32 and a 12-month high of $109.30. The firm has a market cap of $73.28 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 4.20 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.05. The company had revenue of $4.91 billion during the quarter, compared to the consensus estimate 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 company earned $0.86 earnings per share. On average, equities analysts forecast that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive declared that its board has authorized a share repurchase program on Thursday, March 20th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 6.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board believes its shares are undervalued.

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 given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.30%. This is a boost from Colgate-Palmolive's previous quarterly dividend of $0.50. Colgate-Palmolive's payout ratio is currently 58.76%.

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.

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