Prudential Financial Inc. Cuts Stock Position in Colgate-Palmolive (NYSE:CL)

Prudential Financial Inc. lessened its holdings in shares of Colgate-Palmolive (NYSE:CL) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,793,661 shares of the company’s stock after selling 69,179 shares during the period. Prudential Financial Inc.’s holdings in Colgate-Palmolive were worth $163,062,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Swedbank AB raised its holdings in Colgate-Palmolive by 1.4% in the 3rd quarter. Swedbank AB now owns 2,950,059 shares of the company’s stock worth $306,246,000 after purchasing an additional 40,324 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Colgate-Palmolive by 36.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,689 shares of the company’s stock worth $1,525,000 after acquiring an additional 3,960 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Colgate-Palmolive by 18.8% in the 3rd quarter. Pacer Advisors Inc. now owns 111,272 shares of the company’s stock worth $11,551,000 after acquiring an additional 17,623 shares during the last quarter. Meridian Wealth Management LLC purchased a new position in Colgate-Palmolive during the 3rd quarter valued at about $1,133,000. Finally, Great Valley Advisor Group Inc. increased its position in shares of Colgate-Palmolive by 76.2% during the third quarter. Great Valley Advisor Group Inc. now owns 14,387 shares of the company’s stock worth $1,494,000 after acquiring an additional 6,224 shares during the period. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Up 0.0 %

Shares of NYSE CL opened at $90.30 on Monday. Colgate-Palmolive has a 12-month low of $85.32 and a 12-month 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. The firm’s 50-day moving average is $89.33 and its two-hundred day moving average is $94.07. The company has a market capitalization of $73.28 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, January 31st. The company reported $0.91 EPS 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 prior year, the company earned $0.87 earnings per share. Equities analysts anticipate that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

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

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th will be paid a dividend of $0.52 per share. The ex-dividend date is Thursday, April 17th. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 2.30%. Colgate-Palmolive’s payout ratio is currently 56.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Raymond James reissued 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. 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 research note on Monday, February 3rd. UBS Group dropped their target price on Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. StockNews.com cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Friday, March 14th. Finally, JPMorgan Chase & Co. lifted their price target on Colgate-Palmolive from $97.00 to $99.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.