Raiffeisen Bank International AG Purchases New Shares in Colgate-Palmolive (NYSE:CL)

Raiffeisen Bank International AG bought a new stake in shares of Colgate-Palmolive (NYSE:CL) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 437,763 shares of the company’s stock, valued at approximately $39,745,000.

Other hedge funds have also bought and sold shares of the company. Barclays PLC raised its holdings in shares of Colgate-Palmolive by 38.7% in the third quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock worth $793,542,000 after buying an additional 2,132,747 shares during the period. Brookstone Capital Management boosted its position in Colgate-Palmolive by 12.0% in the 4th quarter. Brookstone Capital Management now owns 19,455 shares of the company’s stock valued at $1,769,000 after buying an additional 2,089 shares during the period. Capital Investment Advisors LLC grew its stake in Colgate-Palmolive by 2.5% in the 4th quarter. Capital Investment Advisors LLC now owns 9,634 shares of the company’s stock worth $876,000 after acquiring an additional 238 shares in the last quarter. Miracle Mile Advisors LLC raised its position in Colgate-Palmolive by 218.1% during the 4th quarter. Miracle Mile Advisors LLC now owns 12,222 shares of the company’s stock valued at $1,111,000 after purchasing an additional 8,380 shares in the last quarter. Finally, Marcum Wealth LLC increased its stake in shares of Colgate-Palmolive by 8.2% during the fourth quarter. Marcum Wealth LLC now owns 3,728 shares of the company’s stock valued at $339,000 after buying an additional 282 shares during the period. Institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CL shares. JPMorgan Chase & Co. raised their target price on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, April 28th. Piper Sandler cut their price target 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 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. StockNews.com downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus decreased their price objective on shares of Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating for the company in a research report on Monday, February 3rd. One 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $102.39.

Colgate-Palmolive Stock Performance

CL opened at $87.69 on Thursday. The stock’s 50 day simple moving average is $91.87 and its 200 day simple moving average is $91.38. The stock has a market cap of $71.07 billion, a P/E ratio of 24.91, a P/E/G ratio of 4.20 and a beta of 0.39. Colgate-Palmolive has a 1-year low of $85.32 and a 1-year high of $109.30. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, April 25th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. The firm had revenue of $4.91 billion for the quarter, compared to analysts’ expectations of $4.92 billion. During the same period in the prior year, the company earned $0.86 EPS. The firm’s revenue was down 3.0% on a year-over-year basis. As a group, equities analysts anticipate that Colgate-Palmolive will post 3.75 EPS 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. Stockholders of record on Thursday, April 17th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.37%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, April 17th. Colgate-Palmolive’s payout ratio is 58.76%.

Colgate-Palmolive declared that its Board of Directors has authorized a stock repurchase plan on Thursday, March 20th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to buy up to 6.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

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.