Russell Investments Group Ltd. Sells 40,508 Shares of Colgate-Palmolive (NYSE:CL)

Russell Investments Group Ltd. cut its stake in shares of Colgate-Palmolive (NYSE:CL) by 2.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,611,425 shares of the company’s stock after selling 40,508 shares during the quarter. Russell Investments Group Ltd.’s holdings in Colgate-Palmolive were worth $146,457,000 as of its most recent filing with the Securities and Exchange Commission.

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

Colgate-Palmolive Stock Down 4.4 %

CL opened at $91.75 on Friday. The company has a 50 day moving average of $90.27 and a 200 day moving average of $93.28. 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 company has a market cap of $74.41 billion, a PE ratio of 26.06, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate 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 quarter in the previous year, the firm earned $0.87 EPS. On average, sell-side analysts expect that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive announced that its board has authorized a stock repurchase plan on Thursday, March 20th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Thursday, April 17th. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s dividend payout ratio (DPR) is 59.09%.

Wall Street Analyst Weigh In

CL has been the topic of several research reports. Raymond James restated an “outperform” rating and set a $105.00 price target (down from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. Stifel Nicolaus decreased their price target on shares of Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating for the company in a research report on Monday, February 3rd. Piper Sandler cut their price target on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. Barclays increased their price objective on Colgate-Palmolive from $83.00 to $89.00 and gave the company an “equal weight” rating in a report on Thursday, March 27th. Finally, TD Cowen reduced their price target on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and an average price target of $102.06.

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.