Logan Capital Management Inc. Grows Position in Colgate-Palmolive (NYSE:CL)

Logan Capital Management Inc. grew its stake in Colgate-Palmolive (NYSE:CL - Free Report) by 49.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,335 shares of the company's stock after purchasing an additional 16,226 shares during the quarter. Logan Capital Management Inc.'s holdings in Colgate-Palmolive were worth $4,485,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Chicago Partners Investment Group LLC boosted its holdings in shares of Colgate-Palmolive by 16.2% during the 4th quarter. Chicago Partners Investment Group LLC now owns 6,752 shares of the company's stock valued at $591,000 after buying an additional 943 shares in the last quarter. Aviva PLC grew its holdings in Colgate-Palmolive by 13.4% in the fourth quarter. Aviva PLC now owns 973,421 shares of the company's stock worth $88,494,000 after purchasing an additional 114,855 shares during the period. Peak Financial Advisors LLC bought a new position in shares of Colgate-Palmolive during the fourth quarter valued at approximately $1,315,000. Fiduciary Alliance LLC purchased a new position in shares of Colgate-Palmolive during the fourth quarter valued at approximately $4,066,000. Finally, Impact Partnership Wealth LLC bought a new stake in shares of Colgate-Palmolive in the 4th quarter worth approximately $803,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Up 1.8%

CL stock traded up $1.63 during mid-day trading on Friday, reaching $91.26. The company had a trading volume of 4,650,320 shares, compared to its average volume of 4,650,557. The firm has a 50 day moving average of $91.71 and a 200 day moving average of $91.33. 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 12 month low of $85.32 and a 12 month high of $109.30. The company has a market capitalization of $73.96 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 4.20 and a beta of 0.39.

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

Colgate-Palmolive declared that its Board of Directors has authorized 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 repurchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

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 given a $0.52 dividend. This is a boost from Colgate-Palmolive's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.28%. Colgate-Palmolive's dividend payout ratio (DPR) is presently 58.76%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CL. Wells Fargo & Company increased their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 2nd. Barclays dropped their target price on shares of 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. Stifel Nicolaus cut their target price on Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating on the stock in a research note on Monday, February 3rd. Morgan Stanley reduced their price objective on Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Finally, Piper Sandler reduced their price target 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 investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $102.12.

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.