Colgate-Palmolive (NYSE:CL) Stock Position Reduced by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co decreased its stake in Colgate-Palmolive (NYSE:CL) by 4.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,837 shares of the company’s stock after selling 3,239 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Colgate-Palmolive were worth $6,440,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Chicago Partners Investment Group LLC increased its holdings in Colgate-Palmolive by 16.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 6,752 shares of the company’s stock worth $591,000 after buying an additional 943 shares during the last quarter. Peak Financial Advisors LLC bought a new stake in Colgate-Palmolive in the fourth quarter worth approximately $1,315,000. Fiduciary Alliance LLC acquired a new position in shares of Colgate-Palmolive during the 4th quarter worth $4,066,000. Impact Partnership Wealth LLC bought a new position in shares of Colgate-Palmolive during the 4th quarter valued at $803,000. Finally, Barclays PLC lifted its stake in shares of Colgate-Palmolive by 38.7% in the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock valued at $793,542,000 after purchasing an additional 2,132,747 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $93.25 on Friday. The firm has a market capitalization of $75.68 billion, a PE ratio of 26.49, a PEG ratio of 4.20 and a beta of 0.40. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. Colgate-Palmolive has a 1-year low of $85.32 and a 1-year high of $109.30. The business’s 50 day moving average is $89.62 and its 200-day moving average is $93.80.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates 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 in the prior year, the company earned $0.87 EPS. Sell-side analysts predict that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive announced that its board has authorized a stock repurchase plan on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.23%. The ex-dividend date is Thursday, April 17th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s dividend payout ratio is 59.09%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Piper Sandler lowered their target price on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Raymond James reissued an “outperform” rating and issued a $105.00 price objective (down from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. 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. StockNews.com lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Barclays upped their price objective on shares of Colgate-Palmolive from $83.00 to $89.00 and gave the stock an “equal weight” rating in a report on Thursday. One 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 MarketBeat.com, the company has an average rating of “Hold” and an average 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.