Mirae Asset Global Investments Co. Ltd. Purchases 14,172 Shares of Colgate-Palmolive Company (NYSE:CL)

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 9.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 171,983 shares of the company's stock after buying an additional 14,172 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Colgate-Palmolive were worth $15,963,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Money Concepts Capital Corp increased its holdings in shares of Colgate-Palmolive by 8.5% during the first quarter. Money Concepts Capital Corp now owns 41,568 shares of the company's stock valued at $3,895,000 after acquiring an additional 3,239 shares in the last quarter. Achmea Investment Management B.V. grew its position in Colgate-Palmolive by 8.8% during the 1st quarter. Achmea Investment Management B.V. now owns 366,951 shares of the company's stock valued at $34,384,000 after purchasing an additional 29,759 shares during the last quarter. Quilter Plc increased its stake in Colgate-Palmolive by 0.6% during the 1st quarter. Quilter Plc now owns 36,677 shares of the company's stock valued at $3,437,000 after purchasing an additional 218 shares in the last quarter. Transcend Capital Advisors LLC raised its holdings in Colgate-Palmolive by 2.6% in the first quarter. Transcend Capital Advisors LLC now owns 18,505 shares of the company's stock worth $1,734,000 after buying an additional 477 shares during the last quarter. Finally, Beacon Financial Advisory LLC lifted its stake in shares of Colgate-Palmolive by 1.8% in the first quarter. Beacon Financial Advisory LLC now owns 11,103 shares of the company's stock worth $1,040,000 after buying an additional 197 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CL. Wells Fargo & Company boosted their price objective on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a report on Wednesday, April 2nd. JPMorgan Chase & Co. upped their price target on 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 Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Citigroup boosted their target price on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Finally, Barclays dropped their price target on shares of Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $101.69.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $88.80 on Monday. The company has a debt-to-equity ratio of 8.96, a quick ratio of 0.54 and a current ratio of 0.85. The stock has a 50-day simple moving average of $90.86 and a two-hundred day simple moving average of $90.56. The firm has a market capitalization of $71.97 billion, a PE ratio of 25.09, a P/E/G ratio of 4.71 and a beta of 0.38. Colgate-Palmolive Company has a 52-week low of $85.32 and a 52-week high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.05. Colgate-Palmolive had a net margin of 14.52% and a return on equity of 461.04%. The company 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 firm posted $0.86 EPS. The firm's quarterly revenue was down 3.0% compared to the same quarter last year. Analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

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 purchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive's dividend payout ratio is currently 58.76%.

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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