TIAA Trust National Association Raises Holdings in Colgate-Palmolive (NYSE:CL)

TIAA Trust National Association lifted its holdings in Colgate-Palmolive (NYSE:CL) by 211.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 209,768 shares of the company’s stock after purchasing an additional 142,510 shares during the quarter. TIAA Trust National Association’s holdings in Colgate-Palmolive were worth $19,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CL. FineMark National Bank & Trust raised its position in Colgate-Palmolive by 2.2% in the 4th quarter. FineMark National Bank & Trust now owns 18,413 shares of the company’s stock worth $1,674,000 after buying an additional 392 shares during the last quarter. TD Asset Management Inc. raised its holdings in shares of Colgate-Palmolive by 4.9% during the fourth quarter. TD Asset Management Inc. now owns 3,435,113 shares of the company’s stock valued at $312,286,000 after purchasing an additional 161,802 shares during the last quarter. Prospect Financial Group LLC bought a new position in Colgate-Palmolive during the fourth quarter valued at approximately $232,000. CoreFirst Bank & Trust purchased a new stake in Colgate-Palmolive in the fourth quarter worth approximately $11,477,000. Finally, Towercrest Capital Management grew its position in Colgate-Palmolive by 72.8% in the 4th quarter. Towercrest Capital Management now owns 4,987 shares of the company’s stock worth $453,000 after purchasing an additional 2,101 shares during the period. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $89.52 on Wednesday. The company’s 50-day moving average price is $89.44 and its 200-day moving average price is $93.82. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40. The company has a market cap of $72.65 billion, a PE ratio of 25.43, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate 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 previous year, the company earned $0.87 EPS. On average, equities research analysts forecast that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive declared that its board has approved a share repurchase program on Thursday, March 20th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to purchase up to 6.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Colgate-Palmolive Increases Dividend

The business 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. The ex-dividend date of this dividend is Thursday, April 17th. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 2.32%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 56.82%.

Analyst Ratings Changes

CL has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price target on Colgate-Palmolive from $97.00 to $99.00 and gave the company an “overweight” rating in a report on Friday, March 14th. StockNews.com downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Tuesday. Barclays decreased their price target on shares of Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. UBS Group lowered their price objective 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. Finally, TD Cowen dropped their price target on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. One equities research 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 MarketBeat, Colgate-Palmolive currently has a consensus rating of “Hold” and a consensus target price of $101.72.

Colgate-Palmolive 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.