Colgate-Palmolive (NYSE:CL) Stock Position Decreased by National Bank of Canada FI

National Bank of Canada FI decreased its position in Colgate-Palmolive (NYSE:CL) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 736,563 shares of the company’s stock after selling 28,575 shares during the quarter. National Bank of Canada FI owned about 0.09% of Colgate-Palmolive worth $66,967,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC lifted its position in shares of Colgate-Palmolive by 16.2% in the fourth 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 last quarter. Peak Financial Advisors LLC acquired a new stake in Colgate-Palmolive in the 4th quarter worth approximately $1,315,000. Fiduciary Alliance LLC bought a new stake in Colgate-Palmolive during the fourth quarter worth approximately $4,066,000. Impact Partnership Wealth LLC acquired a new position in Colgate-Palmolive during the fourth quarter valued at approximately $803,000. Finally, Barclays PLC lifted its stake 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 last quarter. Institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CL. Piper Sandler dropped their target price on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a report on Monday. Stifel Nicolaus dropped their price objective on Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating on the stock in a research note on Monday, February 3rd. JPMorgan Chase & Co. increased 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. Raymond James reaffirmed an “outperform” rating and issued a $105.00 price target (down from $110.00) on shares of Colgate-Palmolive in a research report on Monday, February 3rd. Finally, TD Cowen reduced their price objective on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. One investment 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $101.78.

Colgate-Palmolive Stock Performance

CL opened at $93.95 on Wednesday. The firm has a market cap of $76.20 billion, a P/E ratio of 26.69, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. The business’s fifty day moving average is $89.91 and its 200-day moving average is $93.35. Colgate-Palmolive has a 52-week low of $85.32 and a 52-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.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results 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 net margin of 14.38% and a return on equity of 477.77%. During the same quarter last year, the business posted $0.87 EPS. Sell-side analysts expect that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th will be paid 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 of this dividend is Thursday, April 17th. This represents a $2.08 annualized dividend and a yield of 2.21%. Colgate-Palmolive’s payout ratio is presently 59.09%.

Colgate-Palmolive announced that its Board of Directors has initiated a stock repurchase plan on Thursday, March 20th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is 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.