Colgate-Palmolive (NYSE:CL) Shares Acquired by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Colgate-Palmolive (NYSE:CL) by 42.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,965 shares of the company’s stock after buying an additional 1,778 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Colgate-Palmolive were worth $559,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Chicago Partners Investment Group LLC raised its holdings in Colgate-Palmolive by 16.2% during the fourth quarter. Chicago Partners Investment Group LLC now owns 6,752 shares of the company’s stock worth $591,000 after purchasing an additional 943 shares in the last quarter. Aviva PLC raised its holdings in Colgate-Palmolive by 13.4% during the fourth quarter. Aviva PLC now owns 973,421 shares of the company’s stock worth $88,494,000 after purchasing an additional 114,855 shares in the last quarter. Atlas Legacy Advisors LLC bought a new stake in Colgate-Palmolive during the fourth quarter worth approximately $311,000. SBI Securities Co. Ltd. bought a new stake in Colgate-Palmolive during the fourth quarter worth approximately $304,000. Finally, Jupiter Asset Management Ltd. raised its holdings in Colgate-Palmolive by 2.3% during the fourth quarter. Jupiter Asset Management Ltd. now owns 685,718 shares of the company’s stock worth $62,339,000 after purchasing an additional 15,142 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Trading Up 0.8%

Shares of NYSE:CL opened at $93.02 on Friday. The firm has a fifty day moving average of $92.02 and a two-hundred day moving average of $91.27. The firm has a market capitalization of $75.39 billion, a P/E ratio of 26.43, a price-to-earnings-growth ratio of 4.20 and a beta of 0.39. Colgate-Palmolive has a 12-month low of $85.32 and a 12-month high of $109.30. 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 (NYSE:CL) last issued its earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. The company 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%. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter last year, the business posted $0.86 EPS. On average, equities analysts expect that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive announced that its board has initiated a stock repurchase plan on Thursday, March 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 17th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Thursday, April 17th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s payout ratio is presently 58.76%.

Analyst Ratings Changes

Several research analysts have issued reports on CL shares. Barclays decreased their price target on shares of Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. Morgan Stanley decreased their price target 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. Citigroup lifted their price target on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the stock a “buy” rating in a research report on Monday, April 28th. JPMorgan Chase & Co. lifted their price target on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the stock an “overweight” rating in a research report on Monday, April 28th. Finally, Wells Fargo & Company lifted their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Colgate-Palmolive has an average rating of “Hold” and a consensus target price of $102.12.

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.