TrueMark Investments LLC Grows Stock Position in Colgate-Palmolive Company (NYSE:CL)

TrueMark Investments LLC increased its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 264.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,737 shares of the company's stock after purchasing an additional 12,148 shares during the quarter. TrueMark Investments LLC's holdings in Colgate-Palmolive were worth $1,568,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Aviva PLC lifted its stake in shares of Colgate-Palmolive by 13.4% in the 4th quarter. Aviva PLC now owns 973,421 shares of the company's stock worth $88,494,000 after acquiring an additional 114,855 shares during the period. SBI Securities Co. Ltd. purchased a new position in Colgate-Palmolive during the fourth quarter worth about $304,000. Jupiter Asset Management Ltd. lifted its position in Colgate-Palmolive by 2.3% in the fourth quarter. Jupiter Asset Management Ltd. now owns 685,718 shares of the company's stock valued at $62,339,000 after purchasing an additional 15,142 shares during the period. Summit Investment Advisors Inc. boosted its holdings in 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 purchasing an additional 3,187 shares in the last quarter. Finally, Capula Management Ltd acquired a new position in Colgate-Palmolive during the 4th quarter worth approximately $374,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Barclays decreased 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. UBS Group boosted their target price on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Wells Fargo & Company upped their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. raised their price objective on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. Finally, Citigroup boosted 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. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Colgate-Palmolive currently has an average rating of "Hold" and an average price target of $102.12.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $87.85 on Monday. Colgate-Palmolive Company has a fifty-two week low of $85.32 and a fifty-two week high of $109.30. The company has a market capitalization of $71.19 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 4.66 and a beta of 0.38. The stock has a fifty day moving average of $91.50 and a two-hundred day moving average 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 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 business had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. During the same quarter last year, the company earned $0.86 earnings per share. The business's revenue for the quarter was down 3.0% compared to the same quarter last year. On average, analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company 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 $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive's dividend payout ratio is presently 58.76%.

Colgate-Palmolive announced that its Board of Directors has initiated a share buyback program on Thursday, March 20th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Colgate-Palmolive Company 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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