AXQ Capital LP Takes Position in Colgate-Palmolive (NYSE:CL)

AXQ Capital LP purchased a new stake in Colgate-Palmolive (NYSE:CL) during the fourth quarter, Holdings Channel reports. The firm purchased 21,087 shares of the company’s stock, valued at approximately $1,917,000. Colgate-Palmolive makes up approximately 0.9% of AXQ Capital LP’s portfolio, making the stock its 5th biggest position.

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

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $90.30 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30. The stock has a 50 day moving average of $89.33 and a two-hundred day moving average of $94.27. The stock has a market cap of $73.28 billion, a P/E ratio of 25.65, a P/E/G ratio of 4.20 and a beta of 0.40.

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, beating 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 in the previous year, the company earned $0.87 earnings per share. On average, research analysts forecast that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive announced that its board has approved a stock buyback program on Thursday, March 20th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 6.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Colgate-Palmolive Increases Dividend

The company 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 represents a $2.08 dividend on an annualized basis and a yield of 2.30%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s payout ratio is currently 56.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Colgate-Palmolive from $97.00 to $99.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. TD Cowen lowered their target price on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. StockNews.com lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Friday, March 14th. UBS Group reduced their price objective on shares of Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Finally, Piper Sandler reduced their price objective on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Colgate-Palmolive currently 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.