Allstate Corp Acquires Shares of 22,959 Colgate-Palmolive (NYSE:CL)

Allstate Corp bought a new position in shares of Colgate-Palmolive (NYSE:CL) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 22,959 shares of the company’s stock, valued at approximately $2,087,000.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Raymond James reaffirmed an “outperform” rating and issued a $105.00 price target (down previously from $110.00) on shares of Colgate-Palmolive in a research report on Monday, February 3rd. Stifel Nicolaus dropped their target price 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. Wells Fargo & Company reduced their price target on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lifted their target price on Colgate-Palmolive from $97.00 to $99.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Finally, Morgan Stanley reduced their target price on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a 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 assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $102.06.

Colgate-Palmolive Stock Down 0.5 %

Shares of NYSE CL opened at $92.73 on Friday. The firm has a market cap 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. The company’s 50-day simple moving average is $89.69 and its 200-day simple moving average is $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 has a 52-week low of $85.32 and a 52-week high of $109.30.

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

Colgate-Palmolive Increases Dividend

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

Colgate-Palmolive announced that its board has initiated a share buyback program 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 shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

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.