Hudson Bay Capital Management LP Acquires Shares of 36,589 Colgate-Palmolive (NYSE:CL)

Hudson Bay Capital Management LP bought a new stake in shares of Colgate-Palmolive (NYSE:CL - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 36,589 shares of the company's stock, valued at approximately $3,326,000.

Other hedge funds have also added to or reduced their stakes in the company. Barclays PLC increased its stake in shares of Colgate-Palmolive by 38.7% in the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company's stock worth $793,542,000 after purchasing an additional 2,132,747 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in Colgate-Palmolive by 5.3% in the 4th quarter. Harbor Capital Advisors Inc. now owns 13,874 shares of the company's stock worth $1,261,000 after buying an additional 702 shares in the last quarter. Czech National Bank increased its stake in Colgate-Palmolive by 6.4% in the 4th quarter. Czech National Bank now owns 177,145 shares of the company's stock worth $16,104,000 after buying an additional 10,696 shares in the last quarter. Fiduciary Alliance LLC purchased a new stake in Colgate-Palmolive in the 4th quarter worth $4,066,000. Finally, Trust Co. of Toledo NA OH increased its stake in Colgate-Palmolive by 3.8% in the 4th quarter. Trust Co. of Toledo NA OH now owns 18,096 shares of the company's stock worth $1,645,000 after buying an additional 663 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CL has been the subject of a number of analyst reports. Morgan Stanley cut their price target on Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Piper Sandler lowered their price target on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a report on Monday, March 31st. Wells Fargo & Company increased their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a report on Wednesday, April 2nd. JPMorgan Chase & Co. increased their price target on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Finally, Barclays lowered their price target on shares of Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $102.12.

Colgate-Palmolive Stock Up 1.8%

Shares of NYSE:CL traded up $1.63 during trading hours on Friday, hitting $91.26. The company's stock had a trading volume of 4,650,320 shares, compared to its average volume of 4,650,557. The firm's fifty day moving average price is $91.71 and its 200 day moving average price is $91.33. Colgate-Palmolive has a 52 week low of $85.32 and a 52 week high of $109.30. The company has a market capitalization of $73.96 billion, a price-to-earnings ratio of 25.93, a P/E/G 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 (NYSE:CL - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.05. The business had revenue of $4.91 billion for the quarter, compared to analysts' expectations of $4.92 billion. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. The business's revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 EPS. As a group, research analysts expect that Colgate-Palmolive will post 3.75 EPS for the current year.

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 paid 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 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend was Thursday, April 17th. Colgate-Palmolive's payout ratio is presently 58.76%.

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