iA Global Asset Management Inc. Grows Stock Position in Colgate-Palmolive (NYSE:CL)

iA Global Asset Management Inc. raised its holdings in Colgate-Palmolive (NYSE:CL) by 16.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 52,930 shares of the company’s stock after buying an additional 7,592 shares during the quarter. iA Global Asset Management Inc.’s holdings in Colgate-Palmolive were worth $4,812,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Colgate-Palmolive in the fourth quarter worth about $26,000. Centricity Wealth Management LLC purchased a new position in shares of Colgate-Palmolive in the fourth quarter worth about $27,000. Union Bancaire Privee UBP SA purchased a new position in shares of Colgate-Palmolive in the fourth quarter worth about $32,000. Briaud Financial Planning Inc purchased a new position in shares of Colgate-Palmolive in the fourth quarter worth about $32,000. Finally, Wintrust Investments LLC purchased a new position in shares of Colgate-Palmolive in the fourth quarter worth about $33,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CL shares. StockNews.com cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Friday, March 14th. TD Cowen reduced their price target on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Wells Fargo & Company reduced their price target on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lifted their price target on Colgate-Palmolive from $97.00 to $99.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Finally, UBS Group reduced their price target on 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, ten have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Hold” and an average price target of $101.72.

Colgate-Palmolive Trading Down 0.2 %

CL opened at $90.29 on Friday. Colgate-Palmolive has a 12 month low of $85.32 and a 12 month high of $109.30. The stock has a market capitalization of $73.28 billion, a price-to-earnings ratio of 25.65, a PEG 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. The business has a fifty day moving average price of $89.25 and a 200 day moving average price of $94.38.

Colgate-Palmolive (NYSE:CL) last released its 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 return on equity of 477.77% and a net margin of 14.38%. During the same quarter in the previous year, the business posted $0.87 earnings per share. Sell-side analysts expect that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive declared that its board has approved a stock buyback program on Thursday, March 20th that authorizes the company to buyback $5.00 billion in 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 board of directors believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.30%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s payout ratio is presently 56.82%.

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.