GAM Holding AG Purchases New Holdings in Colgate-Palmolive Company (NYSE:CL)

GAM Holding AG purchased a new stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 13,673 shares of the company's stock, valued at approximately $1,281,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Colgate-Palmolive by 0.7% in 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 in the last quarter. Geode Capital Management LLC grew its stake in Colgate-Palmolive by 1.6% in 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 in the last quarter. Norges Bank bought a new position in Colgate-Palmolive in the 4th quarter worth about $912,375,000. Northern Trust Corp boosted its stake in shares of Colgate-Palmolive by 11.7% during the fourth quarter. Northern Trust Corp now owns 9,497,819 shares of the company's stock valued at $863,447,000 after purchasing an additional 993,328 shares in the last quarter. Finally, Amundi boosted its stake in shares of Colgate-Palmolive by 12.8% during the fourth quarter. Amundi now owns 9,200,144 shares of the company's stock valued at $806,015,000 after purchasing an additional 1,040,604 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Trading Down 0.4%

NYSE CL opened at $87.85 on Friday. The company has a fifty day simple moving average of $91.50 and a two-hundred day simple moving average of $90.78. The stock has a market cap of $71.19 billion, a P/E ratio of 24.82, a P/E/G ratio of 4.66 and a beta of 0.38. Colgate-Palmolive Company has a 12-month low of $85.32 and a 12-month high of $109.30. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 8.96.

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

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors 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 annualized dividend and a yield of 2.37%. Colgate-Palmolive's dividend payout ratio is presently 58.76%.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CL. Wall Street Zen downgraded shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Barclays dropped their price objective 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. Piper Sandler dropped their price objective 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 increased their price objective 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, Citigroup increased their price objective on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a research note on Monday, April 28th. One 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, the company presently has a consensus rating of "Hold" and a consensus target price 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.

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