Mizuho Securities USA LLC Boosts Stock Position in Colgate-Palmolive (NYSE:CL)

Mizuho Securities USA LLC boosted its position in shares of Colgate-Palmolive (NYSE:CL) by 46.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 77,434 shares of the company’s stock after acquiring an additional 24,450 shares during the quarter. Mizuho Securities USA LLC’s holdings in Colgate-Palmolive were worth $7,040,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CL. Swedbank AB increased its stake in Colgate-Palmolive by 1.4% during the 3rd quarter. Swedbank AB now owns 2,950,059 shares of the company’s stock worth $306,246,000 after buying an additional 40,324 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Colgate-Palmolive by 36.9% in 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 in the last quarter. Pacer Advisors Inc. increased its position in shares of Colgate-Palmolive by 18.8% during the third 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 period. Meridian Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive during the third quarter worth $1,133,000. Finally, Great Valley Advisor Group Inc. raised its stake in shares of Colgate-Palmolive by 76.2% in the third quarter. Great Valley Advisor Group Inc. now owns 14,387 shares of the company’s stock valued at $1,494,000 after acquiring an additional 6,224 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

Shares of CL opened at $90.30 on Friday. The company’s 50 day simple moving average is $89.33 and its 200-day simple moving average is $94.18. The firm has a market cap 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 has a 12-month low of $85.32 and a 12-month high of $109.30. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40.

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

Colgate-Palmolive declared that its Board of Directors has approved a share buyback program on Thursday, March 20th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to buy up to 6.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board 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. Shareholders of record on Thursday, April 17th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, April 17th. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 2.30%. Colgate-Palmolive’s dividend payout ratio is currently 56.82%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CL. Barclays cut their price target on Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. UBS Group cut their target price on shares of Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. StockNews.com downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Friday, March 14th. TD Cowen dropped 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. Finally, Wells Fargo & Company decreased their price objective on shares of Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. 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 company’s stock. According to MarketBeat.com, the company 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.