1620 Investment Advisors Inc. Increases Stake in Colgate-Palmolive (NYSE:CL)

1620 Investment Advisors Inc. increased its holdings in Colgate-Palmolive (NYSE:CL) by 40.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,091 shares of the company’s stock after purchasing an additional 312 shares during the period. 1620 Investment Advisors Inc.’s holdings in Colgate-Palmolive were worth $99,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Douglass Winthrop Advisors LLC boosted its stake in shares of Colgate-Palmolive by 5.7% in the 4th quarter. Douglass Winthrop Advisors LLC now owns 7,421 shares of the company’s stock valued at $675,000 after purchasing an additional 400 shares in the last quarter. Northwest & Ethical Investments L.P. grew its holdings in Colgate-Palmolive by 0.7% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 121,744 shares of the company’s stock worth $11,068,000 after acquiring an additional 834 shares during the last quarter. iA Global Asset Management Inc. grew its holdings in Colgate-Palmolive by 16.7% in the 4th quarter. iA Global Asset Management Inc. now owns 52,930 shares of the company’s stock worth $4,812,000 after acquiring an additional 7,592 shares during the last quarter. Fiduciary Group LLC grew its holdings in Colgate-Palmolive by 38.5% in the 4th quarter. Fiduciary Group LLC now owns 12,043 shares of the company’s stock worth $1,095,000 after acquiring an additional 3,345 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in Colgate-Palmolive by 23.9% in the 4th quarter. Teacher Retirement System of Texas now owns 1,041,938 shares of the company’s stock worth $94,723,000 after acquiring an additional 201,274 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Piper Sandler cut their price target on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Morgan Stanley cut their price target on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. StockNews.com lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Friday, March 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $101.00 target price on shares of Colgate-Palmolive in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of Colgate-Palmolive from $97.00 to $99.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. One investment 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, Colgate-Palmolive presently has an average rating of “Hold” and a consensus price target of $101.72.

Colgate-Palmolive Stock Up 0.0 %

Shares of Colgate-Palmolive stock opened at $90.30 on Friday. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92. The stock has a market capitalization of $73.28 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a 52-week low of $85.32 and a 52-week high of $109.30. The company has a 50-day simple moving average of $89.33 and a two-hundred day simple moving average of $94.27.

Colgate-Palmolive (NYSE:CL) last issued 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 net margin of 14.38% and a return on equity of 477.77%. During the same period in the previous year, the firm earned $0.87 earnings per share. On average, analysts anticipate that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive announced that its Board of Directors has approved a share repurchase program on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th will be paid a $0.52 dividend. The ex-dividend date is Thursday, April 17th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.30%. Colgate-Palmolive’s payout ratio is currently 56.82%.

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.