World Investment Advisors Increases Holdings in Colgate-Palmolive (NYSE:CL)

World Investment Advisors boosted its holdings in shares of Colgate-Palmolive (NYSE:CL) by 30.9% in the fourth quarter, HoldingsChannel reports. The firm owned 9,487 shares of the company’s stock after buying an additional 2,239 shares during the period. World Investment Advisors’ holdings in Colgate-Palmolive were worth $862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of CL. OneAscent Financial Services LLC boosted its holdings in Colgate-Palmolive by 284.9% during the fourth quarter. OneAscent Financial Services LLC now owns 14,829 shares of the company’s stock worth $1,348,000 after buying an additional 10,976 shares in the last quarter. Huntington National Bank boosted its stake in shares of Colgate-Palmolive by 3.4% during the 4th quarter. Huntington National Bank now owns 178,640 shares of the company’s stock worth $16,240,000 after acquiring an additional 5,811 shares in the last quarter. Te Ahumairangi Investment Management Ltd grew its position in shares of Colgate-Palmolive by 11.4% during the 4th quarter. Te Ahumairangi Investment Management Ltd now owns 48,957 shares of the company’s stock valued at $4,451,000 after acquiring an additional 5,000 shares during the period. RFG Bristol Wealth Advisors LLC purchased a new position in shares of Colgate-Palmolive in the 4th quarter valued at about $289,000. Finally, Meeder Advisory Services Inc. raised its holdings in Colgate-Palmolive by 9.0% in the 4th quarter. Meeder Advisory Services Inc. now owns 20,483 shares of the company’s stock worth $1,862,000 after purchasing an additional 1,688 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 4.4 %

Shares of NYSE CL opened at $91.75 on Monday. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40. The business’s 50 day moving average is $90.27 and its two-hundred day moving average is $93.13. Colgate-Palmolive has a 52-week low of $85.32 and a 52-week high of $109.30. The firm has a market cap of $74.41 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 4.20 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping 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 last year, the business posted $0.87 EPS. Research analysts predict that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive declared that its board has approved a stock buyback program on Thursday, March 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to reacquire up to 6.8% of its stock through open market purchases. Stock repurchase programs are usually 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 issued a $0.52 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.27%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s payout ratio is 59.09%.

Analysts Set New Price Targets

CL has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective on Colgate-Palmolive from $83.00 to $88.00 and gave the company an “underweight” rating in a report on Wednesday, April 2nd. UBS Group cut their price target on shares of Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Stifel Nicolaus decreased their price objective on shares of Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating on the stock in a report on Monday, February 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $101.00 price target on shares of Colgate-Palmolive in a research note on Wednesday, January 29th. Finally, TD Cowen cut their price objective on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus 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.