Castlekeep Investment Advisors LLC Buys New Position in Colgate-Palmolive (NYSE:CL)

Castlekeep Investment Advisors LLC acquired a new stake in Colgate-Palmolive (NYSE:CL - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 13,520 shares of the company's stock, valued at approximately $1,229,000.

Other large investors have also bought and sold shares of the company. Norges Bank purchased a new position in Colgate-Palmolive in the 4th quarter valued at approximately $912,375,000. Diamond Hill Capital Management Inc. bought a new position in Colgate-Palmolive in the 4th quarter worth about $348,718,000. AMF Tjanstepension AB grew its holdings in Colgate-Palmolive by 1,088.8% during the 4th quarter. AMF Tjanstepension AB now owns 2,569,394 shares of the company's stock valued at $233,584,000 after buying an additional 2,353,268 shares in the last quarter. Barclays PLC increased its position in shares of Colgate-Palmolive by 38.7% during the third 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 during the period. Finally, Deutsche Bank AG increased its position in shares of Colgate-Palmolive by 35.6% during the fourth quarter. Deutsche Bank AG now owns 6,922,994 shares of the company's stock valued at $629,369,000 after buying an additional 1,816,865 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Up 0.3%

NYSE CL traded up $0.28 during trading on Thursday, hitting $92.04. 1,942,598 shares of the company's stock traded hands, compared to its average volume of 4,677,181. The stock has a fifty day moving average of $91.93 and a two-hundred day moving average of $91.26. 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 $74.59 billion, a P/E ratio of 26.14, a PEG ratio of 4.20 and a beta of 0.39. 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 (NYSE:CL - Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. The company had revenue of $4.91 billion during the quarter, compared to analysts' expectations of $4.92 billion. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. Colgate-Palmolive's quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 EPS. As a group, sell-side analysts expect that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 17th were issued a dividend of $0.52 per share. This is a positive change from Colgate-Palmolive's previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Thursday, April 17th. Colgate-Palmolive's dividend payout ratio is currently 58.76%.

Colgate-Palmolive declared that its Board of Directors has approved a stock repurchase plan on Thursday, March 20th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to purchase up to 6.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have issued reports on CL shares. Wall Street Zen cut shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Stifel Nicolaus lowered their price objective on Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating on the stock in a research report on Monday, February 3rd. Piper Sandler reduced their target price on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. UBS Group upped their target price on Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Finally, Morgan Stanley dropped their price target on Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, Colgate-Palmolive currently has a consensus rating of "Hold" and an average price target of $102.12.

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.