IFM Investors Pty Ltd Purchases 10,729 Shares of Colgate-Palmolive Company (NYSE:CL)

IFM Investors Pty Ltd grew its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 6.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 169,699 shares of the company's stock after buying an additional 10,729 shares during the quarter. IFM Investors Pty Ltd's holdings in Colgate-Palmolive were worth $17,616,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Brighton Jones LLC increased its position in Colgate-Palmolive by 4.4% during the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company's stock valued at $962,000 after buying an additional 450 shares in the last quarter. Bernard Wealth Management Corp. bought a new position in Colgate-Palmolive during the 4th quarter valued at approximately $36,000. Proficio Capital Partners LLC bought a new position in Colgate-Palmolive during the 4th quarter valued at approximately $186,000. SBI Securities Co. Ltd. bought a new position in Colgate-Palmolive during the 4th quarter valued at approximately $304,000. Finally, Schechter Investment Advisors LLC increased its position in Colgate-Palmolive by 6.0% during the 4th quarter. Schechter Investment Advisors LLC now owns 2,811 shares of the company's stock valued at $256,000 after buying an additional 158 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Stock Performance

NYSE CL traded down $0.65 on Friday, hitting $91.75. 3,300,939 shares of the company traded hands, compared to its average volume of 4,812,485. The company has a market capitalization of $74.36 billion, a price-to-earnings ratio of 25.92, a P/E/G ratio of 4.93 and a beta of 0.37. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 8.96. The business's 50 day moving average price is $90.61 and its 200-day moving average price is $90.54. 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 announced its quarterly earnings data on Friday, April 25th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.86 by $0.05. Colgate-Palmolive had a return on equity of 461.04% and a net margin of 14.52%. The business 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 earnings per share. The business's revenue was down 3.0% on a year-over-year basis. Equities analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

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

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be given a $0.52 dividend. The ex-dividend date is Friday, July 18th. This represents a $2.08 annualized dividend and a dividend yield of 2.27%. Colgate-Palmolive's payout ratio is 58.76%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CL. Citigroup raised their price objective on Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a research report on Monday, April 28th. 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 report on Monday, March 31st. 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. Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, Barclays reduced their target price on Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Colgate-Palmolive has an average rating of "Hold" and an average price target of $101.69.

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.