Board of the Pension Protection Fund Takes Position in Colgate-Palmolive Company (NYSE:CL)

Board of the Pension Protection Fund acquired a new position in Colgate-Palmolive Company (NYSE:CL - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,400 shares of the company's stock, valued at approximately $319,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Aviva PLC boosted its stake in shares of Colgate-Palmolive by 13.4% during the 4th 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 last quarter. SBI Securities Co. Ltd. bought a new position in Colgate-Palmolive in the 4th quarter worth $304,000. Jupiter Asset Management Ltd. raised its holdings in Colgate-Palmolive by 2.3% in the 4th quarter. Jupiter Asset Management Ltd. now owns 685,718 shares of the company's stock worth $62,339,000 after purchasing an additional 15,142 shares during the period. Summit Investment Advisors Inc. lifted its position in Colgate-Palmolive by 10.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 32,710 shares of the company's stock valued at $2,974,000 after purchasing an additional 3,187 shares in the last quarter. Finally, Autumn Glory Partners LLC grew its holdings in Colgate-Palmolive by 67.4% during the first quarter. Autumn Glory Partners LLC now owns 8,905 shares of the company's stock valued at $851,000 after purchasing an additional 3,586 shares during the period. Hedge funds and other institutional investors own 80.41% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. UBS Group raised their price objective on Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Wall Street Zen lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. lifted their price target on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Wells Fargo & Company upped their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 2nd. Finally, Piper Sandler reduced 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. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Colgate-Palmolive currently has a consensus rating of "Hold" and an average target price of $101.69.

Colgate-Palmolive Stock Up 0.1%

CL opened at $87.85 on Friday. The company has a market capitalization of $71.19 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 4.66 and a beta of 0.38. The firm has a 50-day simple moving average of $90.99 and a two-hundred day simple moving average of $90.64. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 8.96. Colgate-Palmolive Company has a 52 week low of $85.32 and a 52 week high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.86 by $0.05. The company had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.92 billion. Colgate-Palmolive had a return on equity of 461.04% and a net margin of 14.52%. The firm's revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 earnings per share. Analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.37%. Colgate-Palmolive's dividend payout ratio is currently 58.76%.

Colgate-Palmolive announced that its Board of Directors has authorized a stock repurchase program on Thursday, March 20th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

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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