Colgate-Palmolive (NYSE:CL) Shares Sold by Korea Investment CORP

Korea Investment CORP cut its holdings in Colgate-Palmolive (NYSE:CL) by 14.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 675,739 shares of the company’s stock after selling 113,081 shares during the period. Korea Investment CORP owned about 0.08% of Colgate-Palmolive worth $61,431,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Kohmann Bosshard Financial Services LLC bought a new stake in Colgate-Palmolive in the fourth quarter valued at $26,000. Centricity Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive in the 4th quarter worth about $27,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Colgate-Palmolive in the 4th quarter worth about $32,000. Briaud Financial Planning Inc bought a new stake in Colgate-Palmolive in the 4th quarter valued at about $32,000. Finally, Wintrust Investments LLC acquired a new position in Colgate-Palmolive during the 4th quarter valued at about $33,000. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

NYSE CL opened at $93.25 on Friday. Colgate-Palmolive has a 1 year low of $85.32 and a 1 year high of $109.30. The business’s fifty day moving average is $89.62 and its two-hundred day moving average is $93.80. The stock has a market capitalization of $75.68 billion, a P/E ratio of 26.49, a P/E/G ratio of 4.20 and a beta of 0.40. 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 announced its earnings results on Friday, January 31st. The company reported $0.91 earnings per share (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 last year, the firm earned $0.87 EPS. On average, research analysts forecast that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Thursday, April 17th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 2.23%. Colgate-Palmolive’s dividend payout ratio is currently 59.09%.

Colgate-Palmolive announced that its board has initiated a share buyback plan 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 plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CL shares. JPMorgan Chase & Co. raised their price target on shares of Colgate-Palmolive from $97.00 to $99.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. 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 research report on Monday, February 3rd. Morgan Stanley reduced their price target on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Barclays increased their price target on Colgate-Palmolive from $83.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Piper Sandler cut their price objective on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $102.06.

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.