Colgate-Palmolive (NYSE:CL) Stock Holdings Decreased by Centre Asset Management LLC

Centre Asset Management LLC lessened its holdings in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 3.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 85,258 shares of the company's stock after selling 2,907 shares during the quarter. Colgate-Palmolive makes up about 2.1% of Centre Asset Management LLC's investment portfolio, making the stock its 21st biggest position. Centre Asset Management LLC's holdings in Colgate-Palmolive were worth $7,989,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Colgate-Palmolive by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 81,303,059 shares of the company's stock worth $7,391,261,000 after acquiring an additional 588,230 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Colgate-Palmolive by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 20,518,014 shares of the company's stock worth $1,868,723,000 after acquiring an additional 324,683 shares during the period. Norges Bank purchased a new position in shares of Colgate-Palmolive during the 4th quarter worth about $912,375,000. Northern Trust Corp lifted its holdings in shares of Colgate-Palmolive by 11.7% during the 4th quarter. Northern Trust Corp now owns 9,497,819 shares of the company's stock worth $863,447,000 after acquiring an additional 993,328 shares during the period. Finally, Amundi raised its holdings in Colgate-Palmolive by 12.8% in the fourth quarter. Amundi now owns 9,200,144 shares of the company's stock valued at $806,015,000 after buying an additional 1,040,604 shares during the period. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CL has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. Morgan Stanley cut their target price on shares of Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Piper Sandler cut their target price 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. UBS Group raised their target price on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Finally, Wall Street Zen downgraded shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Colgate-Palmolive currently has an average rating of "Hold" and an average target price of $102.12.

Colgate-Palmolive Stock Up 0.8%

Colgate-Palmolive stock traded up $0.72 during midday trading on Friday, hitting $93.02. 6,317,272 shares of the stock were exchanged, compared to its average volume of 4,706,422. Colgate-Palmolive has a 1 year low of $85.32 and a 1 year high of $109.30. The firm has a market cap of $75.39 billion, a P/E ratio of 26.43, a P/E/G 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. The company has a 50 day moving average price of $92.02 and a two-hundred day moving average price of $91.27.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.05. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. The firm had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.92 billion. During the same quarter in the previous year, the firm posted $0.86 EPS. The firm's quarterly revenue was down 3.0% on a year-over-year basis. On average, sell-side analysts predict that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th were given a $0.52 dividend. The ex-dividend date was Thursday, April 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.24%. This is an increase from Colgate-Palmolive's previous quarterly dividend of $0.50. Colgate-Palmolive's payout ratio is presently 58.76%.

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

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.