MetLife Investment Management LLC Buys 3,134 Shares of Colgate-Palmolive (NYSE:CL)

MetLife Investment Management LLC boosted its stake in Colgate-Palmolive (NYSE:CL) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 235,876 shares of the company’s stock after purchasing an additional 3,134 shares during the period. MetLife Investment Management LLC’s holdings in Colgate-Palmolive were worth $21,443,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several analysts have issued reports on CL shares. Barclays cut their price target on Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. Piper Sandler reduced their target price on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating for the company in a report on Monday, March 31st. StockNews.com lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. decreased their price objective on shares of Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Finally, Wells Fargo & Company upped their target price on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “underweight” rating in a report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Colgate-Palmolive currently has a consensus rating of “Hold” and a consensus target price of $102.17.

Colgate-Palmolive Stock Performance

NYSE CL opened at $95.49 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. Colgate-Palmolive has a fifty-two week low of $85.32 and a fifty-two week high of $109.30. The company has a market cap of $77.45 billion, a P/E ratio of 27.13, a P/E/G ratio of 4.20 and a beta of 0.40. The business’s 50 day moving average price is $91.31 and its 200-day moving average price is $92.36.

Colgate-Palmolive (NYSE:CL) last posted 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 net margin of 14.38% and a return on equity of 477.77%. During the same period in the prior year, the firm posted $0.87 EPS. Sell-side analysts predict that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors 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 yield of 2.18%. Colgate-Palmolive’s dividend payout ratio is 59.09%.

Colgate-Palmolive declared that its board has initiated a share buyback plan on Thursday, March 20th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are 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.