Financial Counselors Inc. Buys 15,598 Shares of Colgate-Palmolive (NYSE:CL)

Financial Counselors Inc. raised its stake in Colgate-Palmolive (NYSE:CL) by 91.5% in the 4th quarter, HoldingsChannel reports. The firm owned 32,639 shares of the company’s stock after acquiring an additional 15,598 shares during the quarter. Financial Counselors Inc.’s holdings in Colgate-Palmolive were worth $2,967,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Chicago Partners Investment Group LLC increased its position in Colgate-Palmolive by 16.2% in the 4th quarter. Chicago Partners Investment Group LLC now owns 6,752 shares of the company’s stock valued at $591,000 after buying an additional 943 shares in the last quarter. Peak Financial Advisors LLC bought a new stake in shares of Colgate-Palmolive during the fourth quarter valued at approximately $1,315,000. Fiduciary Alliance LLC acquired a new position in shares of Colgate-Palmolive during the fourth quarter worth approximately $4,066,000. Impact Partnership Wealth LLC bought a new position in shares of Colgate-Palmolive in the 4th quarter worth $803,000. Finally, Barclays PLC grew its position in Colgate-Palmolive by 38.7% in the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock valued at $793,542,000 after purchasing an additional 2,132,747 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CL. JPMorgan Chase & Co. upped their price objective on shares of Colgate-Palmolive from $97.00 to $99.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. TD Cowen lowered their target price on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Piper Sandler cut their price target on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $101.00 price objective on shares of Colgate-Palmolive in a research note on Wednesday, January 29th. Finally, UBS Group cut their target price on Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Colgate-Palmolive presently has an average rating of “Hold” and an average price target of $102.06.

Colgate-Palmolive Trading Up 1.3 %

Shares of CL stock opened at $93.25 on Friday. 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 firm has a market cap of $75.68 billion, a P/E ratio of 26.49, a PEG ratio of 4.20 and a beta of 0.40. The company has a 50 day moving average of $89.62 and a 200-day moving average of $93.80. Colgate-Palmolive has a 12-month low of $85.32 and a 12-month high of $109.30.

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

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Thursday, April 17th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 59.09%.

Colgate-Palmolive announced that its board has initiated 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 buy up to 6.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is 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.