Ilmarinen Mutual Pension Insurance Co Has $18.55 Million Stock Holdings in Colgate-Palmolive (NYSE:CL)

Ilmarinen Mutual Pension Insurance Co raised its stake in Colgate-Palmolive (NYSE:CL) by 10.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 204,000 shares of the company’s stock after purchasing an additional 19,000 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Colgate-Palmolive were worth $18,546,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Wedbush Securities Inc. raised its holdings in Colgate-Palmolive by 1.9% in the 4th quarter. Wedbush Securities Inc. now owns 18,182 shares of the company’s stock valued at $1,653,000 after acquiring an additional 335 shares during the period. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings 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 worth $1,152,000 after buying an additional 495 shares in the last quarter. Aviva PLC increased its position in Colgate-Palmolive by 13.4% during the fourth quarter. Aviva PLC now owns 973,421 shares of the company’s stock worth $88,494,000 after acquiring an additional 114,855 shares during the period. Resona Asset Management Co. Ltd. acquired a new stake in Colgate-Palmolive in the 4th quarter worth about $27,760,000. Finally, Savoir Faire Capital Management L.P. boosted its holdings in Colgate-Palmolive by 44.3% in the 4th quarter. Savoir Faire Capital Management L.P. now owns 23,290 shares of the company’s stock valued at $2,117,000 after purchasing an additional 7,147 shares during the period. 80.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CL. Piper Sandler dropped their price target on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating for the company in a research report on Monday, March 31st. Stifel Nicolaus dropped their price objective on Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $101.00 target price on shares of Colgate-Palmolive in a research report on Wednesday, January 29th. TD Cowen decreased their price target on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Finally, UBS Group cut their price objective on shares of Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and an average price target of $102.06.

Colgate-Palmolive Trading Down 4.4 %

Shares of CL stock opened at $91.75 on Friday. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30. The stock’s fifty day simple moving average is $90.27 and its 200 day simple moving average is $93.28. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40. The firm has a market capitalization of $74.41 billion, a P/E ratio of 26.06, a P/E/G ratio of 4.20 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate 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 in the previous year, the company earned $0.87 EPS. As a group, sell-side analysts predict that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive declared that its Board of Directors has approved a stock 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 repurchase up to 6.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.27%. Colgate-Palmolive’s payout ratio is currently 59.09%.

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.