Colgate-Palmolive (NYSE:CL) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC lessened its holdings in Colgate-Palmolive (NYSE:CL - Free Report) by 9.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,549 shares of the company's stock after selling 11,352 shares during the period. Gotham Asset Management LLC's holdings in Colgate-Palmolive were worth $9,595,000 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 business. Chicago Partners Investment Group LLC increased its stake in Colgate-Palmolive by 16.2% during the 4th quarter. Chicago Partners Investment Group LLC now owns 6,752 shares of the company's stock worth $591,000 after buying an additional 943 shares in the last quarter. Aviva PLC increased its stake in Colgate-Palmolive by 13.4% during the 4th quarter. Aviva PLC now owns 973,421 shares of the company's stock worth $88,494,000 after buying an additional 114,855 shares in the last quarter. Peak Financial Advisors LLC purchased a new stake in Colgate-Palmolive during the 4th quarter worth approximately $1,315,000. Fiduciary Alliance LLC purchased a new stake in Colgate-Palmolive during the 4th quarter worth approximately $4,066,000. Finally, Impact Partnership Wealth LLC purchased a new stake in Colgate-Palmolive during the 4th quarter worth approximately $803,000. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Stock Performance

Shares of NYSE CL traded up $1.63 during midday trading on Friday, reaching $91.26. 4,650,320 shares of the company were exchanged, compared to its average volume of 4,658,290. 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 1 year low of $85.32 and a 1 year high of $109.30. The stock has a fifty day simple moving average of $91.65 and a 200 day simple moving average of $91.27. The stock has a market cap of $73.96 billion, a P/E ratio of 25.93, a PEG ratio of 4.20 and a beta of 0.39.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.86 by $0.05. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. The firm 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 posted $0.86 earnings per share. The business's revenue was down 3.0% on a year-over-year basis. On average, research analysts forecast that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 17th were given a $0.52 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.28%. This is an increase from Colgate-Palmolive's previous quarterly dividend of $0.50. Colgate-Palmolive's dividend payout ratio (DPR) is presently 58.76%.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CL. Citigroup boosted 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. Raymond James reaffirmed an "outperform" rating and set a $105.00 price objective (down previously from $110.00) on shares of Colgate-Palmolive in a research report on Monday, February 3rd. Wells Fargo & Company upped their price objective on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 2nd. Stifel Nicolaus cut their price objective on Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating on the stock in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. increased their target price on Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Colgate-Palmolive presently has a consensus rating of "Hold" and a consensus target price 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.