Mackenzie Financial Corp Purchases 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 disclosure with the SEC. The institutional investor owned 3,836,582 shares of the company's stock after purchasing 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 have also bought and sold shares of CL. Kohmann Bosshard Financial Services LLC bought a new stake in Colgate-Palmolive during the fourth quarter valued at $26,000. Centricity Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive in the fourth quarter valued at $27,000. Union Bancaire Privee UBP SA acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at about $32,000. Briaud Financial Planning Inc acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at about $32,000. Finally, Wintrust Investments LLC bought a new stake in Colgate-Palmolive in the fourth quarter worth $33,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $101.00 target price on shares of Colgate-Palmolive in a research report on Wednesday, January 29th. Barclays reduced their price objective on Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. Morgan Stanley reduced their price objective on Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. 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 report on Wednesday, April 2nd. Finally, Wall Street Zen cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $102.12.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock traded down $0.16 during mid-day trading on Tuesday, hitting $92.43. 6,055,170 shares of the company were exchanged, compared to its average volume of 4,683,281. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40. The business has a fifty day moving average of $91.85 and a 200 day moving average of $91.25. Colgate-Palmolive has a 1-year low of $85.32 and a 1-year high of $109.30. The company has a market capitalization of $74.91 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 4.20 and a beta of 0.39.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.05. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. The company had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.92 billion. During the same period last year, the company posted $0.86 earnings per share. The firm's quarterly revenue was down 3.0% compared to the same quarter last year. As a group, sell-side analysts expect that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive announced that its Board of Directors has authorized a share buyback plan on Thursday, March 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to purchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board 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. The ex-dividend date of this dividend was Thursday, April 17th. This is a positive change from Colgate-Palmolive's previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.25%. Colgate-Palmolive's dividend payout ratio (DPR) is 58.76%.

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.