Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Position in Colgate-Palmolive (NYSE:CL)

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Colgate-Palmolive (NYSE:CL) by 10.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,398,112 shares of the company’s stock after buying an additional 130,770 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.17% of Colgate-Palmolive worth $126,040,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in shares of Colgate-Palmolive during the 4th quarter worth approximately $882,000. TrueMark Investments LLC purchased a new position in Colgate-Palmolive in the fourth quarter worth approximately $417,000. Financial Engines Advisors L.L.C. acquired a new stake in Colgate-Palmolive during the fourth quarter worth $399,000. Financial Counselors Inc. raised its position in Colgate-Palmolive by 91.5% in the fourth quarter. Financial Counselors Inc. now owns 32,639 shares of the company’s stock valued at $2,967,000 after purchasing an additional 15,598 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Colgate-Palmolive by 8.6% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 132,701 shares of the company’s stock valued at $12,064,000 after purchasing an additional 10,500 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. 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 note on Wednesday, January 8th. Stifel Nicolaus decreased their price target on Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating on the stock in a research note on Monday, February 3rd. Morgan Stanley dropped their price objective on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Piper Sandler decreased their target price on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Finally, UBS Group dropped their target price 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 equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Colgate-Palmolive has an average rating of “Hold” and an average price target of $102.06.

Colgate-Palmolive Stock Up 1.3 %

Shares of NYSE CL opened at $93.25 on Friday. The business has a 50-day moving average of $89.62 and a two-hundred day moving average of $93.80. The company has a market capitalization of $75.68 billion, a price-to-earnings ratio of 26.49, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a 1 year low of $85.32 and a 1 year high of $109.30. 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 posted its 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 business earned $0.87 earnings per share. On average, analysts forecast that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently declared 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 is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 2.23%. The ex-dividend date is Thursday, April 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 59.09%.

Colgate-Palmolive announced that its board has approved a share buyback program on Thursday, March 20th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are 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.