TIAA Trust National Association Increases Holdings in Colgate-Palmolive (NYSE:CL)

TIAA Trust National Association boosted its position in Colgate-Palmolive (NYSE:CL) by 211.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 209,768 shares of the company’s stock after buying an additional 142,510 shares during the quarter. TIAA Trust National Association’s holdings in Colgate-Palmolive were worth $19,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. FineMark National Bank & Trust increased its holdings in shares of Colgate-Palmolive by 2.2% in the fourth quarter. FineMark National Bank & Trust now owns 18,413 shares of the company’s stock worth $1,674,000 after buying an additional 392 shares during the period. TD Asset Management Inc. grew its position in Colgate-Palmolive by 4.9% during the 4th quarter. TD Asset Management Inc. now owns 3,435,113 shares of the company’s stock worth $312,286,000 after acquiring an additional 161,802 shares during the last quarter. Prospect Financial Group LLC bought a new position in Colgate-Palmolive during the 4th quarter worth approximately $232,000. CoreFirst Bank & Trust purchased a new position in Colgate-Palmolive in the 4th quarter worth approximately $11,477,000. Finally, Towercrest Capital Management lifted its position in Colgate-Palmolive by 72.8% in the fourth quarter. Towercrest Capital Management now owns 4,987 shares of the company’s stock valued at $453,000 after purchasing an additional 2,101 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Price Performance

Shares of CL opened at $89.52 on Wednesday. Colgate-Palmolive has a fifty-two week low of $85.32 and a fifty-two week high of $109.30. The firm’s 50-day simple moving average is $89.44 and its two-hundred day simple moving average is $93.82. The stock has a market cap of $72.65 billion, a PE ratio of 25.43, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. 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 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 period in the prior year, the company posted $0.87 EPS. Analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 2.32%. 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 payout ratio is currently 56.82%.

Colgate-Palmolive announced that its board has authorized a share 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 stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Stifel Nicolaus decreased their target price on shares of Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating on the stock in a research note on Monday, February 3rd. TD Cowen decreased their price objective on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. increased their target price on shares of Colgate-Palmolive from $97.00 to $99.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Raymond James restated an “outperform” rating and set a $105.00 price target (down previously from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. Finally, UBS Group dropped their price objective on Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating for the company 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 given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $101.72.

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.