United Services Automobile Association Boosts Stake in Colgate-Palmolive (NYSE:CL)

United Services Automobile Association raised its holdings in shares of Colgate-Palmolive (NYSE:CL) by 0.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 252,925 shares of the company’s stock after buying an additional 387 shares during the period. United Services Automobile Association’s holdings in Colgate-Palmolive were worth $22,993,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Chicago Partners Investment Group LLC increased its stake in Colgate-Palmolive by 16.2% in the 4th quarter. Chicago Partners Investment Group LLC now owns 6,752 shares of the company’s stock worth $591,000 after buying an additional 943 shares during the period. Peak Financial Advisors LLC bought a new position in Colgate-Palmolive in the 4th quarter worth about $1,315,000. Fiduciary Alliance LLC purchased a new position in shares of Colgate-Palmolive during the fourth quarter worth approximately $4,066,000. Impact Partnership Wealth LLC bought a new stake in shares of Colgate-Palmolive during the fourth quarter valued at approximately $803,000. Finally, Barclays PLC boosted 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 valued at $793,542,000 after purchasing an additional 2,132,747 shares during the period. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of CL stock opened at $90.30 on Monday. Colgate-Palmolive has a fifty-two week low of $85.32 and a fifty-two week high of $109.30. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92. The firm has a market capitalization of $73.28 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 4.20 and a beta of 0.40. The stock’s 50-day simple moving average is $89.33 and its 200-day simple moving average is $94.07.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate 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 prior year, the firm posted $0.87 EPS. As a group, equities analysts forecast that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently announced 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 a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, April 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.30%. Colgate-Palmolive’s dividend payout ratio (DPR) is 56.82%.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on CL shares. StockNews.com downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Friday, March 14th. Piper Sandler cut their price target on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. upped 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. Stifel Nicolaus cut their target price on shares of Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating on the stock in a research report on Monday, February 3rd. Finally, Raymond James restated an “outperform” rating and issued a $105.00 price target (down previously from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Colgate-Palmolive currently has a consensus rating of “Hold” and a consensus price target of $101.72.

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.