Bessemer Group Inc. Lowers Stock Holdings in Colgate-Palmolive (NYSE:CL)

Bessemer Group Inc. cut its holdings in Colgate-Palmolive (NYSE:CL) by 8.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,354 shares of the company’s stock after selling 3,977 shares during the quarter. Bessemer Group Inc.’s holdings in Colgate-Palmolive were worth $4,033,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Chicago Partners Investment Group LLC boosted its holdings in Colgate-Palmolive by 16.2% in the 4th 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 purchased a new position in shares of Colgate-Palmolive in the fourth quarter valued at approximately $1,315,000. Aviva PLC boosted its stake in shares of Colgate-Palmolive by 13.4% in the fourth quarter. Aviva PLC now owns 973,421 shares of the company’s stock worth $88,494,000 after acquiring an additional 114,855 shares during the last quarter. Fiduciary Alliance LLC purchased a new stake in shares of Colgate-Palmolive during the fourth quarter worth approximately $4,066,000. Finally, Impact Partnership Wealth LLC acquired a new position in Colgate-Palmolive in the 4th quarter valued at $803,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on CL shares. TD Cowen lowered their target price 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. Royal Bank of Canada restated a “sector perform” rating and set a $101.00 price target on shares of Colgate-Palmolive in a research report on Wednesday, January 29th. StockNews.com upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a report on Friday, April 4th. Piper Sandler lowered their target price on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. Finally, JPMorgan Chase & Co. cut their price target on Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating for the company in a report on Friday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $101.67.

Colgate-Palmolive Stock Up 2.4 %

Shares of CL opened at $93.99 on Friday. The company’s 50-day simple moving average is $90.48 and its 200-day simple moving average is $92.65. 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 has a 1 year low of $85.32 and a 1 year high of $109.30. The stock has a market capitalization of $76.24 billion, a PE ratio of 26.70, a P/E/G ratio of 4.20 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last released 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 net margin of 14.38% and a return on equity of 477.77%. During the same quarter last year, the firm posted $0.87 EPS. 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. Shareholders of record on Thursday, April 17th will be issued a dividend of $0.52 per share. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $2.08 annualized dividend and a yield of 2.21%. Colgate-Palmolive’s dividend payout ratio is 59.09%.

Colgate-Palmolive announced that its board has authorized 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 purchase 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 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.