Impax Asset Management Group plc Grows Position in Colgate-Palmolive Company (NYSE:CL)

Impax Asset Management Group plc lifted its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 1,105.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 239,850 shares of the company's stock after purchasing an additional 219,946 shares during the quarter. Impax Asset Management Group plc's holdings in Colgate-Palmolive were worth $22,474,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aviva PLC lifted its holdings in shares of Colgate-Palmolive by 13.4% during the fourth quarter. Aviva PLC now owns 973,421 shares of the company's stock valued at $88,494,000 after purchasing an additional 114,855 shares during the last quarter. Jupiter Asset Management Ltd. raised its stake in Colgate-Palmolive by 2.3% during the fourth quarter. Jupiter Asset Management Ltd. now owns 685,718 shares of the company's stock valued at $62,339,000 after buying an additional 15,142 shares during the last quarter. Summit Investment Advisors Inc. raised its stake 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 buying an additional 3,187 shares during the last quarter. Autumn Glory Partners LLC boosted its holdings in Colgate-Palmolive by 67.4% in the first quarter. Autumn Glory Partners LLC now owns 8,905 shares of the company's stock worth $851,000 after acquiring an additional 3,586 shares in the last quarter. Finally, Capula Management Ltd purchased a new stake in shares of Colgate-Palmolive in the fourth quarter worth $374,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Down 0.7%

CL stock opened at $91.75 on Friday. The business's 50-day moving average price is $90.61 and its 200-day moving average price is $90.55. The stock has a market cap of $74.36 billion, a P/E ratio of 25.92, a PEG ratio of 4.93 and a beta of 0.37. 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 twelve month low of $85.32 and a twelve month high of $109.30.

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 for the quarter, topping analysts' consensus estimates of $0.86 by $0.05. Colgate-Palmolive had a net margin of 14.52% and a return on equity of 461.04%. The business had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.92 billion. During the same period in the prior year, the business posted $0.86 earnings per share. The company's revenue was down 3.0% on a year-over-year basis. On average, equities research analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

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

Colgate-Palmolive announced that its board has authorized a share 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 repurchase up to 6.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts recently commented on CL shares. Wall Street Zen downgraded shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Piper Sandler decreased their price objective on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a report on Monday, March 31st. Barclays lowered their price objective on Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. JPMorgan Chase & Co. lifted their target price on Colgate-Palmolive from $95.00 to $103.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Finally, UBS Group increased their price objective on Colgate-Palmolive from $105.00 to $109.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price 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.

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