Colgate-Palmolive (NYSE:CL) Holdings Lowered by Bragg Financial Advisors Inc

Bragg Financial Advisors Inc lessened its stake in shares of Colgate-Palmolive (NYSE:CL) by 2.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,571 shares of the company’s stock after selling 458 shares during the quarter. Bragg Financial Advisors Inc’s holdings in Colgate-Palmolive were worth $1,507,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Colgate-Palmolive during the fourth quarter valued at about $912,375,000. Diamond Hill Capital Management Inc. acquired a new stake in Colgate-Palmolive in the 4th quarter valued at about $348,718,000. AMF Tjanstepension AB grew its stake in shares of Colgate-Palmolive by 1,088.8% in the 4th quarter. AMF Tjanstepension AB now owns 2,569,394 shares of the company’s stock worth $233,584,000 after purchasing an additional 2,353,268 shares during the last quarter. Barclays PLC raised its holdings in shares of Colgate-Palmolive by 38.7% in the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock worth $793,542,000 after purchasing an additional 2,132,747 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Colgate-Palmolive during the fourth quarter valued at approximately $132,405,000. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Trading Up 2.4 %

NYSE:CL opened at $93.99 on Monday. The company has a market capitalization of $76.24 billion, a P/E ratio of 26.70, a P/E/G ratio of 4.20 and a beta of 0.40. The stock’s 50 day moving average price is $90.48 and its 200 day moving average price is $92.57. 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 52 week low of $85.32 and a 52 week high of $109.30.

Colgate-Palmolive (NYSE:CL) last announced 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 quarter last year, the business posted $0.87 EPS. On average, research analysts forecast that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive declared that its Board of Directors has authorized a share buyback plan on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th will be given a $0.52 dividend. The ex-dividend date is Thursday, April 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.21%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s payout ratio is currently 59.09%.

Analysts Set New Price Targets

Several research firms have issued reports on CL. Raymond James restated an “outperform” rating and issued a $105.00 price target (down previously from $110.00) on shares of Colgate-Palmolive in a research report on Monday, February 3rd. StockNews.com raised Colgate-Palmolive from a “hold” rating to a “buy” rating in a research report on Friday, April 4th. Stifel Nicolaus dropped their price target on Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating on the stock in a research note on Monday, February 3rd. Barclays decreased their target price on shares of Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $101.00 price target on shares of Colgate-Palmolive in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $101.67.

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.