Candlestick Capital Management LP Takes $36.48 Million Position in Colgate-Palmolive (NYSE:CL)

Candlestick Capital Management LP purchased a new stake in shares of Colgate-Palmolive (NYSE:CL - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 401,302 shares of the company's stock, valued at approximately $36,482,000.

Other institutional investors have also added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC bought a new stake in Colgate-Palmolive in the fourth quarter worth $26,000. Centricity Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive during the 4th quarter valued at about $27,000. Union Bancaire Privee UBP SA bought a new position in shares of Colgate-Palmolive in the 4th quarter valued at about $32,000. Briaud Financial Planning Inc bought a new stake in Colgate-Palmolive during the fourth quarter worth approximately $32,000. Finally, Wintrust Investments LLC purchased a new position in Colgate-Palmolive during the fourth quarter worth $33,000. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Stock Down 0.3 %

CL traded down $0.27 during trading on Friday, hitting $90.42. The stock had a trading volume of 4,715,657 shares, compared to its average volume of 4,644,713. The stock has a 50 day simple moving average of $92.26 and a two-hundred day simple moving average of $91.91. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30. The company has a market capitalization of $73.28 billion, a PE 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 earnings per share 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 firm had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.92 billion. During the same period in the previous year, the business earned $0.86 EPS. The firm's revenue for the quarter was down 3.0% on a year-over-year basis. On average, research analysts predict that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive declared that its board has initiated a share buyback program on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The business also recently announced 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. The ex-dividend date is Thursday, April 17th. This is a boost from Colgate-Palmolive's previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 2.30%. Colgate-Palmolive's dividend payout ratio (DPR) is 58.76%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CL. TD Cowen decreased their price objective on shares of Colgate-Palmolive from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, January 8th. UBS Group upped their price objective on Colgate-Palmolive from $105.00 to $109.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Piper Sandler reduced their price target on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a research note on Monday, March 31st. Stifel Nicolaus reduced their target price on shares of Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating on the stock in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. boosted their price target on Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive currently has a consensus rating of "Moderate Buy" and an average target price of $102.39.

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.