Mackenzie Financial Corp Acquires 151,053 Shares of Colgate-Palmolive (NYSE:CL)

Mackenzie Financial Corp increased its position in Colgate-Palmolive (NYSE:CL - Free Report) by 4.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,836,582 shares of the company's stock after buying an additional 151,053 shares during the quarter. Mackenzie Financial Corp owned 0.47% of Colgate-Palmolive worth $348,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CL. Barclays PLC lifted its position in Colgate-Palmolive by 38.7% in the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company's stock worth $793,542,000 after buying an additional 2,132,747 shares during the last quarter. Ameritas Advisory Services LLC lifted its position in Colgate-Palmolive by 18.0% in the 4th quarter. Ameritas Advisory Services LLC now owns 2,604 shares of the company's stock worth $237,000 after buying an additional 398 shares during the last quarter. Atomi Financial Group Inc. lifted its position in Colgate-Palmolive by 6.5% in the 4th quarter. Atomi Financial Group Inc. now owns 6,489 shares of the company's stock worth $590,000 after buying an additional 394 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in Colgate-Palmolive by 2.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 387,487 shares of the company's stock worth $35,227,000 after purchasing an additional 8,293 shares during the period. Finally, Wesbanco Bank Inc. increased its stake in Colgate-Palmolive by 1.7% in the 4th quarter. Wesbanco Bank Inc. now owns 15,066 shares of the company's stock worth $1,370,000 after purchasing an additional 250 shares during the period. Institutional investors own 80.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Royal Bank of Canada reissued a "sector perform" rating and set a $101.00 price objective on shares of Colgate-Palmolive in a research note on Wednesday, January 29th. Citigroup increased their price objective on Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a research note on Monday, April 28th. Piper Sandler dropped their price objective on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. Wells Fargo & Company increased their price objective on Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a research note on Wednesday, April 2nd. Finally, Raymond James reissued an "outperform" rating and set a $105.00 price objective (down previously from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, Colgate-Palmolive has a consensus rating of "Hold" and an average price target of $102.12.

Colgate-Palmolive Trading Down 0.8%

Shares of NYSE CL traded down $0.71 during trading hours on Wednesday, hitting $91.72. 5,267,044 shares of the company traded hands, compared to its average volume of 4,685,688. The stock has a market capitalization of $74.33 billion, a price-to-earnings ratio of 26.06, a price-to-earnings-growth ratio of 4.20 and a beta of 0.39. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. The company's 50 day moving average price is $91.90 and its 200 day moving average price is $91.25. Colgate-Palmolive has a 12 month low of $85.32 and a 12 month 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. The company had revenue of $4.91 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.86 EPS. On average, equities research analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Thursday, April 17th. This is an increase from Colgate-Palmolive's previous quarterly dividend of $0.50. Colgate-Palmolive's dividend payout ratio is 58.76%.

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 buy up to 6.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Colgate-Palmolive Company 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.