Massachusetts Financial Services Co. MA Has $681.49 Million Stock Position in Colgate-Palmolive (NYSE:CL)

Massachusetts Financial Services Co. MA cut its position in shares of Colgate-Palmolive (NYSE:CL) by 21.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,496,272 shares of the company’s stock after selling 2,030,718 shares during the period. Massachusetts Financial Services Co. MA owned about 0.92% of Colgate-Palmolive worth $681,486,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in Colgate-Palmolive during the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC bought a new position in shares of Colgate-Palmolive during the 4th quarter worth approximately $27,000. Union Bancaire Privee UBP SA acquired a new stake in Colgate-Palmolive in the 4th quarter valued at $32,000. Briaud Financial Planning Inc bought a new stake in 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 currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Down 0.3 %

Shares of Colgate-Palmolive stock opened at $93.65 on Thursday. 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 has a 1 year low of $85.32 and a 1 year high of $109.30. The business has a 50-day moving average of $90.03 and a two-hundred day moving average of $93.36. The company has a market capitalization of $75.96 billion, a P/E ratio of 26.61, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last posted 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 return on equity of 477.77% and a net margin of 14.38%. During the same quarter in the prior year, the firm earned $0.87 earnings per share. As a group, equities analysts predict that Colgate-Palmolive will post 3.75 EPS for the current year.

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

Colgate-Palmolive Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Thursday, April 17th. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s dividend payout ratio (DPR) is 59.09%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. StockNews.com lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th. 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. Morgan Stanley cut their target price on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. TD Cowen decreased their price target on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Finally, Raymond James reiterated an “outperform” rating and issued a $105.00 price objective (down previously from $110.00) on shares of Colgate-Palmolive in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Colgate-Palmolive has a consensus rating of “Hold” and an average price target of $102.06.

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.