Colgate-Palmolive (NYSE:CL) Shares Purchased by Prospector Partners LLC

Prospector Partners LLC grew its stake in shares of Colgate-Palmolive (NYSE:CL) by 0.2% during the fourth quarter, HoldingsChannel reports. The firm owned 167,503 shares of the company’s stock after buying an additional 387 shares during the period. Colgate-Palmolive accounts for 1.7% of Prospector Partners LLC’s portfolio, making the stock its 22nd largest position. Prospector Partners LLC’s holdings in Colgate-Palmolive were worth $15,228,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CL shares. TD Cowen cut their price target on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Piper Sandler reduced their target price on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating for the company in a research note on Monday, March 31st. Wells Fargo & Company lifted their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “underweight” rating in a research note on Wednesday. Raymond James reiterated an “outperform” rating and set a $105.00 price objective (down from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $101.00 target price on shares of Colgate-Palmolive in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $102.06.

Colgate-Palmolive Stock Performance

CL opened at $91.75 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. The business’s 50 day moving average is $90.27 and its 200-day moving average is $93.20. The stock has a market cap of $74.41 billion, a PE ratio of 26.06, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30.

Colgate-Palmolive (NYSE:CL) last announced its quarterly 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 return on equity of 477.77% and a net margin of 14.38%. During the same quarter last year, the firm posted $0.87 earnings per share. On average, analysts predict that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive declared that its board has approved a share buyback plan on Thursday, March 20th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 6.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors 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 dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.27%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, April 17th. Colgate-Palmolive’s payout ratio is 59.09%.

About Colgate-Palmolive

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.