Colgate-Palmolive (NYSE:CL) Shares Sold by Aster Capital Management DIFC Ltd

Aster Capital Management DIFC Ltd cut its position in Colgate-Palmolive (NYSE:CL) by 87.9% during the fourth quarter, Holdings Channel reports. The firm owned 2,096 shares of the company’s stock after selling 15,283 shares during the period. Aster Capital Management DIFC Ltd’s holdings in Colgate-Palmolive were worth $191,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new position in Colgate-Palmolive in the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive in the 4th quarter valued at $27,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Colgate-Palmolive in the fourth quarter worth $32,000. Briaud Financial Planning Inc purchased a new position in shares of Colgate-Palmolive during the fourth quarter worth $32,000. Finally, Wintrust Investments LLC acquired a new position in Colgate-Palmolive during the fourth quarter valued at $33,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CL has been the subject of a number of recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $101.00 price objective on shares of Colgate-Palmolive in a research note on Wednesday, January 29th. UBS Group reduced their price target on Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Raymond James restated an “outperform” rating and issued a $105.00 price objective (down previously from $110.00) on shares of Colgate-Palmolive in a research report on Monday, February 3rd. TD Cowen cut their target price on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Finally, Barclays increased their price target on shares of Colgate-Palmolive from $83.00 to $89.00 and gave the stock an “equal weight” rating in a report on Thursday, March 27th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $102.06.

Colgate-Palmolive Stock Down 2.7 %

Shares of CL opened at $89.21 on Tuesday. The stock has a 50 day moving average price of $90.23 and a 200 day moving average price of $93.04. Colgate-Palmolive has a one year low of $85.32 and a one year high of $109.30. 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 $72.36 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 4.20 and a beta of 0.40.

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 net margin of 14.38% and a return on equity of 477.77%. During the same quarter last year, the business earned $0.87 earnings per share. Equities research analysts forecast that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th will be issued a dividend of $0.52 per share. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Thursday, April 17th. Colgate-Palmolive’s payout ratio is currently 59.09%.

Colgate-Palmolive declared that its Board of Directors has approved a share buyback program on Thursday, March 20th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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.