D L Carlson Investment Group Inc. Lowers Holdings in Colgate-Palmolive (NYSE:CL)

D L Carlson Investment Group Inc. cut its position in shares of Colgate-Palmolive (NYSE:CL) by 2.0% in the fourth quarter, HoldingsChannel reports. The firm owned 37,294 shares of the company’s stock after selling 742 shares during the period. D L Carlson Investment Group Inc.’s holdings in Colgate-Palmolive were worth $3,390,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. O Shaughnessy Asset Management LLC boosted its stake in Colgate-Palmolive by 2.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 220,030 shares of the company’s stock worth $20,003,000 after purchasing an additional 4,576 shares in the last quarter. Joseph Group Capital Management purchased a new position in shares of Colgate-Palmolive in the fourth quarter worth $64,000. Allianz SE acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth $8,645,000. Transamerica Financial Advisors Inc. grew its holdings in shares of Colgate-Palmolive by 30.1% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 8,240 shares of the company’s stock valued at $750,000 after buying an additional 1,905 shares during the last quarter. Finally, OneAscent Wealth Management LLC raised its stake in Colgate-Palmolive by 4.2% in the 4th quarter. OneAscent Wealth Management LLC now owns 3,725 shares of the company’s stock worth $339,000 after acquiring an additional 149 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Price Performance

NYSE:CL opened at $92.73 on Monday. The stock has a 50 day moving average of $89.69 and a two-hundred day moving average of $93.52. Colgate-Palmolive has a 12 month low of $85.32 and a 12 month high of $109.30. The firm has a market cap of $75.25 billion, a P/E ratio of 26.34, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. 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 (NYSE:CL) last issued its quarterly earnings results on Friday, January 31st. The company reported $0.91 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 in the previous year, the business earned $0.87 earnings per share. On average, analysts expect that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive announced that its board has approved a share buyback plan on Thursday, March 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to buy up to 6.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Colgate-Palmolive Increases Dividend

The firm 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. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Thursday, April 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 59.09%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wells Fargo & Company dropped their price target on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. TD Cowen reduced their price target on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Morgan Stanley dropped their price objective 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. Barclays raised their target price on shares of Colgate-Palmolive from $83.00 to $89.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Raymond James reaffirmed an “outperform” rating and issued a $105.00 price target (down from $110.00) on shares of Colgate-Palmolive in a 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $102.06.

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.