Penserra Capital Management LLC Increases Stock Holdings in Colgate-Palmolive Company (NYSE:CL)

Penserra Capital Management LLC lifted its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 398.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,651 shares of the company's stock after purchasing an additional 8,515 shares during the quarter. Penserra Capital Management LLC's holdings in Colgate-Palmolive were worth $997,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CL. Vanguard Group Inc. boosted its stake in Colgate-Palmolive by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 81,303,059 shares of the company's stock valued at $7,391,261,000 after buying an additional 588,230 shares in the last quarter. Geode Capital Management LLC boosted its stake in Colgate-Palmolive by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 20,518,014 shares of the company's stock valued at $1,868,723,000 after buying an additional 324,683 shares in the last quarter. Norges Bank acquired a new stake in Colgate-Palmolive in the fourth quarter valued at about $912,375,000. Northern Trust Corp boosted its stake in Colgate-Palmolive by 11.7% in the fourth quarter. Northern Trust Corp now owns 9,497,819 shares of the company's stock valued at $863,447,000 after buying an additional 993,328 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in Colgate-Palmolive by 35.6% in the fourth quarter. Deutsche Bank AG now owns 6,922,994 shares of the company's stock valued at $629,369,000 after buying an additional 1,816,865 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Barclays cut their price target on Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. 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. Citigroup boosted their price target on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a report on Monday, April 28th. Finally, UBS Group boosted their price target on Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $101.13.

Colgate-Palmolive Trading Down 1.1%

NYSE CL traded down $1.02 during trading hours on Friday, hitting $89.60. 4,372,701 shares of the company's stock were exchanged, compared to its average volume of 4,849,733. The stock has a 50-day simple moving average of $90.63 and a 200 day simple moving average of $90.52. Colgate-Palmolive Company has a 1-year low of $85.32 and a 1-year high of $109.30. The firm has a market cap of $72.61 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 4.80 and a beta of 0.37. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 8.96.

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 analysts' consensus estimates of $0.86 by $0.05. Colgate-Palmolive had a return on equity of 461.04% and a net margin of 14.52%. The firm had revenue of $4.91 billion during the quarter, compared to analysts' expectations of $4.92 billion. During the same quarter last year, the firm posted $0.86 earnings per share. The company's revenue for the quarter was down 3.0% compared to the same quarter last year. On average, equities analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.08 annualized dividend and a dividend yield of 2.32%. Colgate-Palmolive's payout ratio is 58.76%.

Colgate-Palmolive declared that its Board of Directors has initiated a stock buyback plan on Thursday, March 20th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

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.