Cerity Partners LLC Purchases 1,398 Shares of Colgate-Palmolive (NYSE:CL)

Cerity Partners LLC lifted its position in shares of Colgate-Palmolive (NYSE:CL) by 0.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 217,237 shares of the company’s stock after purchasing an additional 1,398 shares during the quarter. Cerity Partners LLC’s holdings in Colgate-Palmolive were worth $20,092,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Federated Hermes Inc. grew its position in shares of Colgate-Palmolive by 9.1% in the 4th quarter. Federated Hermes Inc. now owns 682,369 shares of the company’s stock worth $62,034,000 after buying an additional 56,776 shares during the period. Ilmarinen Mutual Pension Insurance Co boosted its stake in Colgate-Palmolive by 10.3% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 204,000 shares of the company’s stock worth $18,546,000 after acquiring an additional 19,000 shares in the last quarter. Wedbush Securities Inc. grew its holdings in Colgate-Palmolive by 1.9% in the fourth quarter. Wedbush Securities Inc. now owns 18,182 shares of the company’s stock worth $1,653,000 after purchasing an additional 335 shares during the period. Grantham Mayo Van Otterloo & Co. LLC increased its stake in shares of Colgate-Palmolive by 4.1% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 12,677 shares of the company’s stock valued at $1,152,000 after purchasing an additional 495 shares in the last quarter. Finally, Aviva PLC lifted its holdings in shares of Colgate-Palmolive by 13.4% during the fourth quarter. Aviva PLC now owns 973,421 shares of the company’s stock valued at $88,494,000 after purchasing an additional 114,855 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Down 0.7 %

Shares of NYSE:CL opened at $88.54 on Wednesday. The stock has a 50 day moving average of $90.18 and a 200 day moving average of $92.91. The company has a market cap of $71.82 billion, a PE ratio of 25.15, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a 12-month low of $85.32 and a 12-month high of $109.30. 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 earnings per share for the quarter, beating 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 quarter in the prior year, the company earned $0.87 EPS. As a group, equities research analysts expect that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive announced that its board has initiated a stock repurchase program on Thursday, March 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend 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 is presently 59.09%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CL. Stifel Nicolaus reduced their price target on Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating for the company in a report on Monday, February 3rd. TD Cowen decreased their price objective 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. Morgan Stanley lowered their price objective on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Barclays lifted their target price on Colgate-Palmolive from $83.00 to $89.00 and gave the stock an “equal weight” rating in a report on Thursday, March 27th. Finally, Raymond James reaffirmed an “outperform” rating and set a $105.00 price target (down from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.