Public Employees Retirement Association of Colorado Sells 6,072 Shares of Colgate-Palmolive (NYSE:CL)

Public Employees Retirement Association of Colorado lessened its holdings in Colgate-Palmolive (NYSE:CL) by 5.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 101,319 shares of the company’s stock after selling 6,072 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Colgate-Palmolive were worth $9,211,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CL. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Colgate-Palmolive during the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC bought a new stake in shares of Colgate-Palmolive during the fourth quarter valued at approximately $27,000. Union Bancaire Privee UBP SA bought a new stake in shares of Colgate-Palmolive during the fourth quarter valued at approximately $32,000. Briaud Financial Planning Inc bought a new stake in shares of Colgate-Palmolive during the fourth quarter valued at approximately $32,000. Finally, Wintrust Investments LLC bought a new stake in shares of Colgate-Palmolive during the fourth quarter valued at approximately $33,000. Institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CL shares. Piper Sandler reduced their price objective on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a research note on Monday, March 31st. TD Cowen reduced their price target on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Raymond James reissued an “outperform” rating and set a $105.00 price target (down from $110.00) on shares of Colgate-Palmolive in a research report on Monday, February 3rd. StockNews.com cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Wednesday, April 16th. Finally, Stifel Nicolaus reduced their price target on shares of Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating on the stock in a research report on Monday, February 3rd. One 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 company. According to data from MarketBeat, Colgate-Palmolive has a consensus rating of “Hold” and an average price target of $102.39.

Colgate-Palmolive Stock Performance

Shares of CL opened at $90.99 on Tuesday. The firm has a 50-day moving average of $92.14 and a 200-day moving average of $92.05. Colgate-Palmolive has a one year low of $85.32 and a one year high of $109.30. The company has a market cap of $73.80 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, April 25th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. The company had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.92 billion. During the same quarter last year, the firm posted $0.86 EPS. The company’s quarterly revenue was down 3.0% on a year-over-year basis. As a group, equities analysts forecast that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th will be given a $0.52 dividend. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, April 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.29%. Colgate-Palmolive’s dividend payout ratio is presently 59.09%.

Colgate-Palmolive announced that its board has authorized a stock buyback program on Thursday, March 20th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to purchase up to 6.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

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.