Bridgefront Capital LLC Grows Position in Colgate-Palmolive (NYSE:CL)

Bridgefront Capital LLC raised its stake in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 89.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,137 shares of the company's stock after buying an additional 4,790 shares during the quarter. Bridgefront Capital LLC's holdings in Colgate-Palmolive were worth $922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CL. Barclays PLC grew its holdings in Colgate-Palmolive by 38.7% during the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company's stock valued at $793,542,000 after buying an additional 2,132,747 shares in the last quarter. World Investment Advisors LLC bought a new position in shares of Colgate-Palmolive during the 3rd quarter valued at approximately $752,000. Principal Financial Group Inc. increased its position in Colgate-Palmolive by 4.9% in the third quarter. Principal Financial Group Inc. now owns 997,147 shares of the company's stock worth $103,514,000 after purchasing an additional 46,944 shares during the last quarter. Nordea Investment Management AB raised its stake in Colgate-Palmolive by 32.5% during the fourth quarter. Nordea Investment Management AB now owns 5,091,683 shares of the company's stock valued at $462,121,000 after purchasing an additional 1,247,731 shares in the last quarter. Finally, Pensionfund Sabic lifted its position in Colgate-Palmolive by 43.8% during the fourth quarter. Pensionfund Sabic now owns 19,700 shares of the company's stock valued at $1,791,000 after purchasing an additional 6,000 shares during the last quarter. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Stock Down 1.0 %

NYSE:CL traded down $0.92 during trading hours on Friday, reaching $89.91. The company's stock had a trading volume of 3,846,241 shares, compared to its average volume of 4,624,666. The stock has a 50 day moving average price of $92.24 and a two-hundred day moving average price of $91.65. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92. The company has a market capitalization of $72.86 billion, a P/E ratio of 25.54, a price-to-earnings-growth ratio of 4.20 and a beta of 0.39. Colgate-Palmolive has a 12 month low of $85.32 and a 12 month high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $4.92 billion. During the same period in the prior year, the business posted $0.86 EPS. The firm's quarterly revenue was down 3.0% on a year-over-year basis. Equities analysts predict that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive declared that its Board of Directors has initiated a stock buyback plan on Thursday, March 20th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th will be issued a $0.52 dividend. This is a positive change from Colgate-Palmolive's previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 2.31%. The ex-dividend date is Thursday, April 17th. Colgate-Palmolive's payout ratio is currently 58.76%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Wells Fargo & Company lifted their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a report on Wednesday, April 2nd. Citigroup increased their price target on Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a report on Monday, April 28th. Piper Sandler dropped their price objective on shares of 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, Barclays reduced their target price on shares of Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, Colgate-Palmolive currently has an average rating of "Hold" and a consensus price target of $102.39.

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.