Colgate-Palmolive (NYSE:CL) Shares Acquired by iA Global Asset Management Inc.

iA Global Asset Management Inc. raised its holdings in shares of Colgate-Palmolive (NYSE:CL) by 16.7% in the 4th quarter, HoldingsChannel reports. The fund owned 52,930 shares of the company’s stock after buying an additional 7,592 shares during the quarter. iA Global Asset Management Inc.’s holdings in Colgate-Palmolive were worth $4,812,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of analysts recently issued reports on CL shares. JPMorgan Chase & Co. upped their target price on Colgate-Palmolive from $97.00 to $99.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Morgan Stanley decreased their target price on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. TD Cowen decreased their target price on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Stifel Nicolaus decreased their target price on Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating for the company in a research report on Monday, February 3rd. Finally, Piper Sandler reduced their price target on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $101.72.

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $90.29 on Friday. The company has a market cap of $73.28 billion, a P/E ratio of 25.65, a P/E/G ratio of 4.20 and a beta of 0.40. The company has a quick ratio of 0.58, a current ratio of 0.92 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 business has a fifty day simple moving average of $89.25 and a 200-day simple moving average of $94.38.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, January 31st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.01. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. During the same period in the prior year, the company earned $0.87 earnings per share. Equities research analysts forecast that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive declared that its Board of Directors has authorized a share buyback plan on Thursday, March 20th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire 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 company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.30%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 56.82%.

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.