Colgate-Palmolive (NYSE:CL) Shares Sold by GUARDCAP ASSET MANAGEMENT Ltd

GUARDCAP ASSET MANAGEMENT Ltd lowered its position in shares of Colgate-Palmolive (NYSE:CL) by 15.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,741,723 shares of the company’s stock after selling 833,835 shares during the quarter. Colgate-Palmolive makes up approximately 7.0% of GUARDCAP ASSET MANAGEMENT Ltd’s holdings, making the stock its 6th biggest holding. GUARDCAP ASSET MANAGEMENT Ltd owned approximately 0.58% of Colgate-Palmolive worth $431,070,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swedbank AB lifted its holdings in shares of Colgate-Palmolive by 1.4% during the 3rd quarter. Swedbank AB now owns 2,950,059 shares of the company’s stock worth $306,246,000 after acquiring an additional 40,324 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in Colgate-Palmolive by 36.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,689 shares of the company’s stock worth $1,525,000 after purchasing an additional 3,960 shares during the last quarter. Pacer Advisors Inc. raised its stake in Colgate-Palmolive by 18.8% during the third quarter. Pacer Advisors Inc. now owns 111,272 shares of the company’s stock worth $11,551,000 after purchasing an additional 17,623 shares during the period. Meridian Wealth Management LLC acquired a new position in shares of Colgate-Palmolive in the 3rd quarter valued at $1,133,000. Finally, Great Valley Advisor Group Inc. grew its stake in shares of Colgate-Palmolive by 76.2% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 14,387 shares of the company’s stock valued at $1,494,000 after buying an additional 6,224 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $90.30 on Friday. The firm has a market cap of $73.28 billion, a PE ratio of 25.65, 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 firm’s 50-day simple moving average is $89.33 and its 200-day simple moving average is $94.18. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, January 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates 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 prior year, the firm posted $0.87 EPS. Equities analysts forecast 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 plan on Thursday, March 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to repurchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders 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. The ex-dividend date is Thursday, April 17th. This represents a $2.08 annualized dividend and a yield of 2.30%. Colgate-Palmolive’s payout ratio is presently 56.82%.

Analyst Ratings Changes

CL has been the topic of a number of research analyst reports. StockNews.com cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Friday, March 14th. Stifel Nicolaus decreased their target price 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 price objective on shares of Colgate-Palmolive in a research note on Wednesday, January 29th. Morgan Stanley decreased their price target on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. upped their target price on Colgate-Palmolive from $97.00 to $99.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $101.72.

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.