Colgate-Palmolive (NYSE:CL) Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp lifted its holdings in Colgate-Palmolive (NYSE:CL - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,836,582 shares of the company's stock after acquiring an additional 151,053 shares during the period. Mackenzie Financial Corp owned 0.47% of Colgate-Palmolive worth $348,784,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CL. Norges Bank purchased a new stake in Colgate-Palmolive during the fourth quarter valued at approximately $912,375,000. Diamond Hill Capital Management Inc. purchased a new stake in shares of Colgate-Palmolive in the fourth quarter worth approximately $348,718,000. AMF Tjanstepension AB raised its holdings in shares of Colgate-Palmolive by 1,088.8% in the fourth quarter. AMF Tjanstepension AB now owns 2,569,394 shares of the company's stock worth $233,584,000 after buying an additional 2,353,268 shares during the period. Barclays PLC raised its holdings in shares of Colgate-Palmolive by 38.7% in the third 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 period. Finally, Deutsche Bank AG raised its holdings in shares of Colgate-Palmolive by 35.6% in the fourth quarter. Deutsche Bank AG now owns 6,922,994 shares of the company's stock worth $629,369,000 after buying an additional 1,816,865 shares during the period. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Piper Sandler reduced their price target on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. Barclays dropped their target price 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. Raymond James reaffirmed an "outperform" rating and set a $105.00 target price (down previously from $110.00) on shares of Colgate-Palmolive in a research report on Monday, February 3rd. JPMorgan Chase & Co. increased their target price on Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Finally, Wall Street Zen cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $102.12.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL traded up $0.34 on Thursday, reaching $92.10. The company's stock had a trading volume of 2,201,535 shares, compared to its average volume of 5,325,752. The stock has a market capitalization of $74.64 billion, a P/E ratio of 26.16, a PEG ratio of 4.20 and a beta of 0.39. Colgate-Palmolive has a 52-week low of $85.32 and a 52-week high of $109.30. The stock's 50-day moving average is $91.93 and its two-hundred day moving average is $91.26. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its 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. 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 analyst estimates of $4.92 billion. During the same quarter last year, the business earned $0.86 earnings per share. Colgate-Palmolive's revenue was down 3.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Colgate-Palmolive will post 3.75 EPS for the current year.

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

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date was Thursday, April 17th. This is an increase from Colgate-Palmolive's previous quarterly dividend of $0.50. Colgate-Palmolive's dividend payout ratio (DPR) is currently 58.76%.

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.