Teachers Retirement System of The State of Kentucky Decreases Stock Holdings in Colgate-Palmolive (NYSE:CL)

Teachers Retirement System of The State of Kentucky lessened its stake in Colgate-Palmolive (NYSE:CL) by 1.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 60,502 shares of the company’s stock after selling 1,008 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Colgate-Palmolive were worth $5,500,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Kohmann Bosshard Financial Services LLC acquired a new position in Colgate-Palmolive during the fourth quarter worth about $26,000. Centricity Wealth Management LLC acquired a new position in shares of Colgate-Palmolive during the 4th quarter worth approximately $27,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Colgate-Palmolive in the fourth quarter valued at approximately $32,000. Briaud Financial Planning Inc purchased a new position in Colgate-Palmolive during the fourth quarter worth approximately $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 Up 1.1 %

Shares of NYSE CL opened at $95.76 on Wednesday. Colgate-Palmolive has a 12-month low of $85.32 and a 12-month high of $109.30. The stock has a market cap of $77.67 billion, a P/E ratio of 27.20, 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’s fifty day simple moving average is $91.63 and its 200-day simple moving average is $92.30.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the firm posted $0.87 earnings per share. As a group, equities analysts predict that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive declared that its board has approved a stock repurchase plan on Thursday, March 20th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 6.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors 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 issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.17%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, April 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 59.09%.

Wall Street Analysts Forecast Growth

CL has been the topic of several analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $101.00 price target on shares of Colgate-Palmolive in a report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their target price on shares of Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. UBS Group raised their price target on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Wells Fargo & Company upped their price objective on Colgate-Palmolive from $83.00 to $88.00 and gave the company an “underweight” rating in a report on Wednesday, April 2nd. Finally, Raymond James reissued an “outperform” rating and set a $105.00 target price (down previously from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. One research 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, the company presently has an average rating of “Hold” and a consensus target price of $102.17.

Colgate-Palmolive Company 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.