Manning & Napier Advisors LLC Acquires 31,979 Shares of Colgate-Palmolive Company (NYSE:CL)

Manning & Napier Advisors LLC lifted its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 88.3% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 68,205 shares of the company's stock after acquiring an additional 31,979 shares during the quarter. Manning & Napier Advisors LLC's holdings in Colgate-Palmolive were worth $6,391,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Aviva PLC lifted its stake in Colgate-Palmolive by 13.4% in the fourth quarter. Aviva PLC now owns 973,421 shares of the company's stock worth $88,494,000 after purchasing an additional 114,855 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Colgate-Palmolive in the 4th quarter valued at about $304,000. Jupiter Asset Management Ltd. lifted its stake in shares of Colgate-Palmolive by 2.3% in the 4th quarter. Jupiter Asset Management Ltd. now owns 685,718 shares of the company's stock valued at $62,339,000 after acquiring an additional 15,142 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of Colgate-Palmolive by 10.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 32,710 shares of the company's stock valued at $2,974,000 after acquiring an additional 3,187 shares during the last quarter. Finally, Capula Management Ltd bought a new stake in Colgate-Palmolive in the fourth quarter valued at approximately $374,000. 80.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Barclays lowered 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. Wells Fargo & Company upped their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a report on Wednesday, April 2nd. JPMorgan Chase & Co. upped their price target on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Wall Street Zen downgraded shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Finally, Piper Sandler lowered their price objective on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $102.12.

Colgate-Palmolive Stock Down 0.4%

Shares of NYSE:CL opened at $87.85 on Monday. Colgate-Palmolive Company has a 52-week low of $85.32 and a 52-week high of $109.30. The firm has a market capitalization 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. The stock has a 50 day moving average price of $91.50 and a 200-day moving average price of $90.75. The company has a debt-to-equity ratio of 8.96, a quick ratio of 0.54 and a current ratio of 0.85.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $4.92 billion. Colgate-Palmolive had a return on equity of 461.04% and a net margin of 14.52%. The firm's quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.86 earnings per share. As a group, equities research analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive declared that its Board of Directors has authorized a share buyback plan on Thursday, March 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to buy up to 6.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Colgate-Palmolive Announces Dividend

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 $0.52 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.08 annualized dividend and a dividend yield of 2.37%. Colgate-Palmolive's payout ratio 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.

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