Sumitomo Mitsui DS Asset Management Company Ltd Boosts Stake in Colgate-Palmolive Company (NYSE:CL)

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 6.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 125,494 shares of the company's stock after acquiring an additional 7,057 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Colgate-Palmolive were worth $11,759,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Cidel Asset Management Inc. raised its holdings in shares of Colgate-Palmolive by 22.8% during the first quarter. Cidel Asset Management Inc. now owns 289,647 shares of the company's stock valued at $27,140,000 after purchasing an additional 53,843 shares during the period. Vontobel Holding Ltd. raised its holdings in shares of Colgate-Palmolive by 13.1% during the first quarter. Vontobel Holding Ltd. now owns 517,079 shares of the company's stock valued at $48,450,000 after purchasing an additional 59,988 shares during the period. Astoria Portfolio Advisors LLC. raised its holdings in shares of Colgate-Palmolive by 256.5% during the first quarter. Astoria Portfolio Advisors LLC. now owns 10,372 shares of the company's stock valued at $974,000 after purchasing an additional 7,463 shares during the period. Alta Advisers Ltd raised its holdings in shares of Colgate-Palmolive by 39.7% during the first quarter. Alta Advisers Ltd now owns 3,870 shares of the company's stock valued at $363,000 after purchasing an additional 1,100 shares during the period. Finally, Cypress Capital LLC acquired a new position in shares of Colgate-Palmolive during the first quarter valued at about $1,783,000. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Price Performance

NYSE:CL traded down $0.65 during trading hours on Thursday, hitting $91.75. The stock had a trading volume of 3,300,939 shares, compared to its average volume of 4,804,615. The company has a 50 day simple moving average of $90.68 and a two-hundred day simple moving average of $90.57. The company has a debt-to-equity ratio of 8.96, a current ratio of 0.85 and a quick ratio of 0.54. Colgate-Palmolive Company has a one year low of $85.32 and a one year high of $109.30. The firm has a market capitalization of $74.36 billion, a price-to-earnings ratio of 25.92, a P/E/G ratio of 4.91 and a beta of 0.37.

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

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive's dividend payout ratio (DPR) is currently 58.76%.

Colgate-Palmolive announced that its board has authorized 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 buy up to 6.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

CL has been the topic of a number of analyst reports. Piper Sandler lowered their target price on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. Barclays decreased their price objective on shares of Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. Citigroup increased their target price on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a research report on Monday, April 28th. JPMorgan Chase & Co. increased their target price on shares of 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 downgraded shares of 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 issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Colgate-Palmolive presently has a consensus rating of "Hold" and an average price target of $101.69.

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.