BLI Banque de Luxembourg Investments Purchases New Holdings in Colgate-Palmolive (NYSE:CL)

BLI Banque de Luxembourg Investments acquired a new position in Colgate-Palmolive (NYSE:CL) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 539,500 shares of the company’s stock, valued at approximately $48,987,000. Colgate-Palmolive accounts for 1.3% of BLI Banque de Luxembourg Investments’ portfolio, making the stock its 26th biggest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank purchased a new position in Colgate-Palmolive in the 4th quarter worth approximately $912,375,000. Diamond Hill Capital Management Inc. purchased a new position in shares of Colgate-Palmolive in the fourth quarter worth $348,718,000. AMF Tjanstepension AB lifted its holdings in shares of Colgate-Palmolive by 1,088.8% during the fourth quarter. AMF Tjanstepension AB now owns 2,569,394 shares of the company’s stock valued at $233,584,000 after purchasing an additional 2,353,268 shares in the last quarter. Barclays PLC boosted its position in shares of Colgate-Palmolive by 38.7% during the third quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock valued at $793,542,000 after buying an additional 2,132,747 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Colgate-Palmolive in the 4th quarter worth about $132,405,000. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 0.3 %

NYSE CL opened at $90.42 on Friday. 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. The stock has a market cap of $73.28 billion, a PE ratio of 25.69, a P/E/G ratio of 4.20 and a beta of 0.40. The stock’s 50 day moving average is $92.26 and its 200 day moving average is $91.85.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The firm had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.92 billion. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. Colgate-Palmolive’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 earnings per share. Research analysts predict that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive declared that its Board of Directors has approved 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 repurchase up to 6.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are 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 given a dividend of $0.52 per share. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.30%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 58.76%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CL shares. Morgan Stanley dropped their price target on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Royal Bank of Canada restated a “sector perform” rating and issued a $101.00 target price on shares of Colgate-Palmolive in a report on Wednesday, January 29th. UBS Group boosted their target price on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Barclays dropped their price target on Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating on the stock in a research note on Friday, April 11th. Finally, Piper Sandler reduced their price objective on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating for the company in a research report on Monday, March 31st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $102.39.

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.