Meiji Yasuda Asset Management Co Ltd. Acquires 10,500 Shares of Colgate-Palmolive (NYSE:CL)

Meiji Yasuda Asset Management Co Ltd. grew its holdings in Colgate-Palmolive (NYSE:CL) by 8.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 132,701 shares of the company’s stock after acquiring an additional 10,500 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Colgate-Palmolive were worth $12,064,000 as of its most recent filing with the Securities and Exchange Commission.

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

Colgate-Palmolive Stock Up 0.7 %

NYSE CL opened at $90.91 on Tuesday. 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 52 week low of $85.32 and a 52 week high of $109.30. The stock has a market capitalization of $73.78 billion, a P/E ratio of 25.83, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. The stock has a fifty day moving average of $89.40 and a 200-day moving average of $93.95.

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

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

Colgate-Palmolive Increases Dividend

The firm 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 $0.52 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 2.29%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 56.82%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Piper Sandler reduced their price objective on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a report on Monday, January 6th. TD Cowen decreased their price objective on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. UBS Group dropped their target price on Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating for the company in a report on Monday, February 3rd. StockNews.com downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Tuesday. 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 research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $101.72.

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.