Saratoga Research & Investment Management Sells 8,477 Shares of Colgate-Palmolive (NYSE:CL)

Saratoga Research & Investment Management lowered its stake in shares of Colgate-Palmolive (NYSE:CL) by 6.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 126,467 shares of the company’s stock after selling 8,477 shares during the quarter. Colgate-Palmolive makes up approximately 0.6% of Saratoga Research & Investment Management’s portfolio, making the stock its 29th largest holding. Saratoga Research & Investment Management’s holdings in Colgate-Palmolive were worth $11,497,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Axxcess Wealth Management LLC boosted its holdings in shares of Colgate-Palmolive by 0.3% in the fourth quarter. Axxcess Wealth Management LLC now owns 38,786 shares of the company’s stock valued at $3,526,000 after purchasing an additional 117 shares during the period. Commonwealth Financial Services LLC lifted its holdings in shares of Colgate-Palmolive by 4.5% in the 4th quarter. Commonwealth Financial Services LLC now owns 2,716 shares of the company’s stock worth $247,000 after buying an additional 118 shares during the period. D Orazio & Associates Inc. grew its position in shares of Colgate-Palmolive by 4.2% during the 4th quarter. D Orazio & Associates Inc. now owns 2,982 shares of the company’s stock worth $271,000 after buying an additional 120 shares in the last quarter. Lantz Financial LLC increased its stake in shares of Colgate-Palmolive by 0.6% during the fourth quarter. Lantz Financial LLC now owns 20,140 shares of the company’s stock valued at $1,831,000 after buying an additional 122 shares during the period. Finally, Pine Haven Investment Counsel Inc raised its holdings in shares of Colgate-Palmolive by 1.0% in the fourth quarter. Pine Haven Investment Counsel Inc now owns 13,006 shares of the company’s stock valued at $1,182,000 after acquiring an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CL. Morgan Stanley cut their target price on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Barclays lifted their price target on Colgate-Palmolive from $83.00 to $89.00 and gave the company an “equal weight” rating in a report on Thursday. Raymond James restated an “outperform” rating and set a $105.00 price objective (down from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. Stifel Nicolaus cut their target price on Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating on the stock in a research note on Monday, February 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $101.00 price target on shares of Colgate-Palmolive in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $102.06.

Colgate-Palmolive Trading Down 0.5 %

Shares of NYSE:CL opened at $92.73 on Monday. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40. Colgate-Palmolive has a 52-week low of $85.32 and a 52-week high of $109.30. The stock has a market cap of $75.25 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 4.20 and a beta of 0.40. The business has a 50-day moving average price of $89.69 and a 200-day moving average price of $93.52.

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

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th will be given a dividend of $0.52 per share. 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 2.24%. The ex-dividend date is Thursday, April 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 59.09%.

Colgate-Palmolive announced that its Board of Directors has approved a share repurchase program on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

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.