Bridgewater Associates LP Sells 456,387 Shares of Colgate-Palmolive (NYSE:CL)

Bridgewater Associates LP cut its holdings in shares of Colgate-Palmolive (NYSE:CL) by 75.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 150,234 shares of the company’s stock after selling 456,387 shares during the period. Bridgewater Associates LP’s holdings in Colgate-Palmolive were worth $13,658,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Chicago Partners Investment Group LLC increased its holdings 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 purchasing an additional 943 shares in the last quarter. Aviva PLC increased its holdings in Colgate-Palmolive by 13.4% in the fourth quarter. Aviva PLC now owns 973,421 shares of the company’s stock worth $88,494,000 after purchasing an additional 114,855 shares in the last quarter. Peak Financial Advisors LLC bought a new stake in shares of Colgate-Palmolive in the 4th quarter valued at $1,315,000. Fiduciary Alliance LLC acquired a new position in shares of Colgate-Palmolive during the fourth quarter valued at about $4,066,000. Finally, Impact Partnership Wealth LLC bought a new position in Colgate-Palmolive in the fourth quarter worth approximately $803,000. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 0.8 %

Shares of NYSE CL opened at $93.48 on Thursday. Colgate-Palmolive has a 12 month low of $85.32 and a 12 month high of $109.30. The firm has a market capitalization of $75.82 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 4.20 and a beta of 0.40. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. The business has a 50-day moving average of $90.96 and a 200-day moving average of $92.53.

Colgate-Palmolive (NYSE:CL) last issued 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 return on equity of 477.77% and a net margin of 14.38%. During the same quarter last year, the company earned $0.87 earnings per share. Sell-side analysts expect that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

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. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Thursday, April 17th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s dividend payout ratio is 59.09%.

Colgate-Palmolive declared that its Board of Directors has approved a stock repurchase plan on Thursday, March 20th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to purchase up to 6.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CL shares. Piper Sandler dropped their price objective on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a research note on Monday, March 31st. UBS Group cut 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. JPMorgan Chase & Co. decreased their price objective on shares of Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Morgan Stanley decreased their target price on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, Stifel Nicolaus lowered their price target on shares of Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating on the stock in a report on Monday, February 3rd. 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 company. According to MarketBeat, Colgate-Palmolive presently has an average rating of “Hold” and an average price target of $101.67.

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.