Colgate-Palmolive (NYSE:CL) Shares Sold by Lowe Brockenbrough & Co. Inc.

Lowe Brockenbrough & Co. Inc. lessened its stake in Colgate-Palmolive (NYSE:CL) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,608 shares of the company’s stock after selling 1,300 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in Colgate-Palmolive were worth $2,601,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Swedbank AB lifted its position in Colgate-Palmolive by 1.4% in the 3rd quarter. Swedbank AB now owns 2,950,059 shares of the company’s stock valued at $306,246,000 after purchasing an additional 40,324 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Colgate-Palmolive by 39.8% during the third quarter. Thrivent Financial for Lutherans now owns 90,023 shares of the company’s stock worth $9,345,000 after buying an additional 25,645 shares during the period. Prospera Private Wealth LLC acquired a new stake in Colgate-Palmolive in the 3rd quarter valued at approximately $64,000. Commerce Bank raised its stake in Colgate-Palmolive by 0.3% during the 3rd quarter. Commerce Bank now owns 145,487 shares of the company’s stock valued at $15,103,000 after acquiring an additional 425 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Colgate-Palmolive by 36.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,689 shares of the company’s stock worth $1,525,000 after acquiring an additional 3,960 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of NYSE CL opened at $90.29 on Friday. Colgate-Palmolive has a one year low of $85.32 and a one year high of $109.30. The business’s 50-day moving average price is $89.25 and its two-hundred day moving average price is $94.38. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58. The company has a market capitalization of $73.28 billion, a P/E ratio of 25.65, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40.

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. Analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive announced that its board has initiated 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 repurchase up to 6.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Colgate-Palmolive Increases Dividend

The business also recently announced 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 yield of 2.30%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s dividend payout ratio is presently 56.82%.

Analysts Set New Price Targets

CL has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Friday, March 14th. Royal Bank of Canada reissued a “sector perform” rating and set a $101.00 target price on shares of Colgate-Palmolive in a report on Wednesday, January 29th. Wells Fargo & Company decreased their price target on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. UBS Group lowered their target price on Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Finally, Stifel Nicolaus cut their price target on shares of Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating for the company in a 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $101.72.

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.