USS Investment Management Ltd Purchases 92,477 Shares of Colgate-Palmolive (NYSE:CL)

USS Investment Management Ltd lifted its stake in Colgate-Palmolive (NYSE:CL - Free Report) by 7.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,372,002 shares of the company's stock after purchasing an additional 92,477 shares during the period. Colgate-Palmolive accounts for approximately 0.9% of USS Investment Management Ltd's holdings, making the stock its 25th largest holding. USS Investment Management Ltd owned about 0.17% of Colgate-Palmolive worth $124,763,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of Colgate-Palmolive in the 4th quarter worth $26,000. Centricity Wealth Management LLC bought a new position in Colgate-Palmolive during the fourth quarter worth about $27,000. Union Bancaire Privee UBP SA bought a new position in Colgate-Palmolive during the fourth quarter worth about $32,000. Briaud Financial Planning Inc bought a new position in Colgate-Palmolive during the fourth quarter worth about $32,000. Finally, Wintrust Investments LLC bought a new position in Colgate-Palmolive during the fourth quarter worth about $33,000. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Stock Performance

Shares of CL stock traded up $1.77 during trading hours on Friday, hitting $92.67. 6,723,726 shares of the company were exchanged, compared to its average volume of 4,677,772. The firm has a fifty day simple moving average of $91.81 and a 200 day simple moving average of $91.24. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. Colgate-Palmolive has a 52-week low of $85.32 and a 52-week high of $109.30. The stock has a market capitalization of $75.10 billion, a price-to-earnings ratio of 26.33, a P/E/G ratio of 4.20 and a beta of 0.39.

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

Colgate-Palmolive declared that its board has initiated a share repurchase plan on Thursday, March 20th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 6.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th were issued a dividend of $0.52 per share. This is an increase from Colgate-Palmolive's previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Thursday, April 17th. Colgate-Palmolive's payout ratio is currently 58.76%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CL shares. Citigroup lifted their target price on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a report on Monday, April 28th. Piper Sandler reduced their target price on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. Wells Fargo & Company lifted their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a report on Wednesday, April 2nd. Stifel Nicolaus cut their price target on Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating on the stock in a report on Monday, February 3rd. Finally, Morgan Stanley cut their price target on Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $102.12.

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.