Colgate-Palmolive (NYSE:CL) Shares Sold by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV lessened its position in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 156,544 shares of the company's stock after selling 7,166 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in Colgate-Palmolive were worth $14,372,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Norges Bank acquired a new position in Colgate-Palmolive during the 4th quarter valued at approximately $912,375,000. Diamond Hill Capital Management Inc. acquired a new position in Colgate-Palmolive during the 4th quarter valued at approximately $348,718,000. AMF Tjanstepension AB boosted its holdings in shares of Colgate-Palmolive by 1,088.8% in the 4th quarter. AMF Tjanstepension AB now owns 2,569,394 shares of the company's stock valued at $233,584,000 after acquiring an additional 2,353,268 shares during the last quarter. Barclays PLC increased its stake in shares of Colgate-Palmolive by 38.7% in the third quarter. Barclays PLC now owns 7,644,189 shares of the company's stock worth $793,542,000 after acquiring an additional 2,132,747 shares during the period. Finally, Deutsche Bank AG raised its holdings in shares of Colgate-Palmolive by 35.6% during the fourth quarter. Deutsche Bank AG now owns 6,922,994 shares of the company's stock worth $629,369,000 after purchasing an additional 1,816,865 shares during the last quarter. Institutional investors own 80.41% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CL shares. Wells Fargo & Company upped 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. Stifel Nicolaus lowered 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. StockNews.com cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Piper Sandler lowered their price objective on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a research report on Monday, March 31st. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $101.00 price objective on shares of Colgate-Palmolive in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $102.12.

Colgate-Palmolive Price Performance

CL stock traded up $1.63 during trading on Friday, hitting $91.26. The stock had a trading volume of 4,650,320 shares, compared to its average volume of 4,658,290. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30. The company's 50-day moving average price is $91.65 and its two-hundred day moving average price is $91.29. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58. The stock has a market capitalization 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 issued 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 period in the previous year, the company posted $0.86 earnings per share. The business's revenue was down 3.0% on a year-over-year basis. As a group, research analysts predict that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently announced 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 a positive change 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 is presently 58.76%.

Colgate-Palmolive declared that its board has authorized a stock buyback program on Thursday, March 20th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management 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.