Colgate-Palmolive (NYSE:CL) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC cut its position in shares of Colgate-Palmolive (NYSE:CL) by 5.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 627,425 shares of the company’s stock after selling 39,675 shares during the period. Clearbridge Investments LLC’s holdings in Colgate-Palmolive were worth $57,039,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in Colgate-Palmolive during the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC purchased a new stake in Colgate-Palmolive during the fourth quarter worth approximately $27,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Colgate-Palmolive in the fourth quarter worth $32,000. Briaud Financial Planning Inc purchased a new position in shares of Colgate-Palmolive in the 4th quarter valued at $32,000. Finally, Wintrust Investments LLC purchased a new position in shares of Colgate-Palmolive in the 4th quarter valued at $33,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Morgan Stanley lowered their price target on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $101.00 target price on shares of Colgate-Palmolive in a research note on Wednesday, January 29th. UBS Group reduced their price target on Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. JPMorgan Chase & Co. upped their price target on Colgate-Palmolive from $97.00 to $99.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Finally, 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 note on Wednesday, January 8th. One investment 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 data from MarketBeat, Colgate-Palmolive has an average rating of “Hold” and an average price target of $101.78.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $93.84 on Tuesday. 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 company has a market capitalization of $76.11 billion, a price-to-earnings ratio of 26.66, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30. The business has a 50 day simple moving average of $89.80 and a 200-day simple moving average of $93.44.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, January 31st. The company reported $0.91 EPS for the quarter, topping 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 in the prior year, the firm earned $0.87 earnings per share. As a group, equities research analysts expect that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.22%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 59.09%.

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