Colgate-Palmolive (NYSE:CL) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. trimmed its position in Colgate-Palmolive (NYSE:CL) by 8.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,275 shares of the company’s stock after selling 3,946 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Colgate-Palmolive were worth $4,025,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. denkapparat Operations GmbH acquired a new position in Colgate-Palmolive in the fourth quarter valued at approximately $334,000. Premier Fund Managers Ltd raised its holdings in Colgate-Palmolive by 367.5% in the 4th quarter. Premier Fund Managers Ltd now owns 48,141 shares of the company’s stock valued at $4,371,000 after buying an additional 37,843 shares during the period. Orion Portfolio Solutions LLC raised its stake in shares of Colgate-Palmolive by 6.8% in the 4th quarter. Orion Portfolio Solutions LLC now owns 46,240 shares of the company’s stock valued at $4,204,000 after acquiring an additional 2,943 shares during the period. Pictet Asset Management Holding SA grew its stake in shares of Colgate-Palmolive by 13.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 456,501 shares of the company’s stock valued at $41,501,000 after buying an additional 53,942 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in Colgate-Palmolive by 3.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 880,132 shares of the company’s stock worth $80,013,000 after purchasing an additional 28,322 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 0.5 %

Shares of NYSE CL opened at $92.73 on Friday. The stock has a market capitalization of $75.25 billion, a price-to-earnings ratio of 26.34, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a 52 week low of $85.32 and a 52 week high of $109.30. The firm has a 50-day moving average price of $89.69 and a 200 day moving average price of $93.61. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating 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 business posted $0.87 earnings per share. Equities research analysts anticipate that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th will be given a $0.52 dividend. The ex-dividend date is Thursday, April 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.24%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 59.09%.

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

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Morgan Stanley cut their price objective on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Wells Fargo & Company dropped their target price on shares of Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Royal Bank of Canada restated a “sector perform” rating and issued a $101.00 price objective on shares of Colgate-Palmolive in a research note on Wednesday, January 29th. Piper Sandler decreased their target price on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Finally, Stifel Nicolaus lowered their price target on Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating on the stock in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target 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.