Teza Capital Management LLC Lowers Position in Colgate-Palmolive (NYSE:CL)

Teza Capital Management LLC cut its stake in Colgate-Palmolive (NYSE:CL - Free Report) by 86.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,657 shares of the company's stock after selling 53,970 shares during the quarter. Teza Capital Management LLC's holdings in Colgate-Palmolive were worth $787,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Kohmann Bosshard Financial Services LLC bought a new position in shares of Colgate-Palmolive during the fourth quarter valued at about $26,000. Centricity Wealth Management LLC bought a new position in shares of Colgate-Palmolive during the fourth quarter valued at about $27,000. Union Bancaire Privee UBP SA bought a new position in shares of Colgate-Palmolive during the fourth quarter valued at about $32,000. Briaud Financial Planning Inc purchased a new stake in Colgate-Palmolive during the fourth quarter worth about $32,000. Finally, Wintrust Investments LLC purchased a new stake in Colgate-Palmolive during the fourth quarter worth about $33,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on CL. Raymond James restated an "outperform" rating and set a $105.00 price objective (down previously from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. JPMorgan Chase & Co. raised their price objective on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Citigroup raised their price objective on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a report on Monday, April 28th. UBS Group raised their price objective on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Finally, Piper Sandler reduced their target price 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 analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $102.12.

Colgate-Palmolive Trading Up 0.5%

Shares of Colgate-Palmolive stock opened at $91.72 on Tuesday. The firm has a market cap of $74.33 billion, a PE ratio of 26.06, a PEG ratio of 4.20 and a beta of 0.39. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58. Colgate-Palmolive has a 1 year low of $85.32 and a 1 year high of $109.30. The company has a 50 day simple moving average of $91.67 and a two-hundred day simple moving average of $91.26.

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

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.27%. This is a positive change from Colgate-Palmolive's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Thursday, April 17th. Colgate-Palmolive's payout ratio is presently 58.76%.

Colgate-Palmolive announced that its Board of Directors has authorized a share buyback program 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 programs are often an indication that the company's board believes its stock is 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.

Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive (NYSE:CL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.