Allianz SE Purchases New Holdings in Colgate-Palmolive (NYSE:CL)

Allianz SE acquired a new stake in shares of Colgate-Palmolive (NYSE:CL) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 95,215 shares of the company’s stock, valued at approximately $8,645,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Chicago Partners Investment Group LLC lifted its holdings 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 valued at $591,000 after purchasing an additional 943 shares during the last quarter. Peak Financial Advisors LLC acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at approximately $1,315,000. Fiduciary Alliance LLC bought a new stake in shares of Colgate-Palmolive during the fourth quarter worth $4,066,000. Impact Partnership Wealth LLC bought a new stake in Colgate-Palmolive during the 4th quarter worth about $803,000. Finally, Barclays PLC boosted its stake in Colgate-Palmolive by 38.7% in the third quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock valued at $793,542,000 after acquiring an additional 2,132,747 shares during the last quarter. 80.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CL shares. StockNews.com lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Tuesday. Morgan Stanley lowered their price target on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Piper Sandler reduced their target price on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Stifel Nicolaus cut their price target on Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating on the stock in a report on Monday, February 3rd. Finally, Royal Bank of Canada restated 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 investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Hold” and a consensus price target of $102.06.

Colgate-Palmolive Trading Down 0.5 %

NYSE:CL opened at $92.73 on Friday. 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 12 month low of $85.32 and a 12 month high of $109.30. The firm has a fifty day simple moving average of $89.69 and a two-hundred day simple moving average of $93.70. The stock has a market capitalization of $75.25 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 4.20 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, January 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.90 by $0.01. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. During the same quarter in the prior year, the firm earned $0.87 EPS. Analysts expect that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.24%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, April 17th. Colgate-Palmolive’s dividend payout ratio is 59.09%.

Colgate-Palmolive declared that its Board of Directors has approved a stock repurchase plan on Thursday, March 20th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 6.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.

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.