Pitcairn Co. Buys 364 Shares of Colgate-Palmolive (NYSE:CL)

Pitcairn Co. boosted its stake in Colgate-Palmolive (NYSE:CL) by 3.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,752 shares of the company’s stock after acquiring an additional 364 shares during the quarter. Pitcairn Co.’s holdings in Colgate-Palmolive were worth $977,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC acquired a new position in Colgate-Palmolive during the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive in the 4th quarter valued at approximately $27,000. Union Bancaire Privee UBP SA bought 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 shares of Colgate-Palmolive in the fourth quarter valued at $32,000. Finally, Wintrust Investments LLC acquired a new position in Colgate-Palmolive during the fourth quarter worth $33,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $91.75 on Friday. 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 stock has a market cap of $74.41 billion, a PE ratio of 26.06, a P/E/G ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a 12-month low of $85.32 and a 12-month high of $109.30. The business’s 50-day moving average price is $90.27 and its two-hundred day moving average price is $93.28.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data 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 in the previous year, the business posted $0.87 earnings per share. As a group, analysts expect that Colgate-Palmolive will post 3.75 earnings per share 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 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 is Thursday, April 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.27%. Colgate-Palmolive’s dividend payout ratio (DPR) is 59.09%.

Colgate-Palmolive declared that its Board of Directors has initiated a share repurchase program on Thursday, March 20th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CL. TD Cowen dropped their target price on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Stifel Nicolaus cut their price objective on Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating for the company in a research report on Monday, February 3rd. Piper Sandler decreased 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. Morgan Stanley cut their price target on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Colgate-Palmolive from $97.00 to $99.00 and gave the company an “overweight” rating in a report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Colgate-Palmolive has an average rating of “Moderate Buy” 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.