Towercrest Capital Management Grows Position in Colgate-Palmolive (NYSE:CL)

Towercrest Capital Management boosted its stake in Colgate-Palmolive (NYSE:CL) by 72.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,987 shares of the company’s stock after purchasing an additional 2,101 shares during the quarter. Towercrest Capital Management’s holdings in Colgate-Palmolive were worth $453,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Swedbank AB grew its stake in Colgate-Palmolive by 1.4% during the third 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 Colgate-Palmolive by 36.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,689 shares of the company’s stock worth $1,525,000 after buying an additional 3,960 shares during the period. Pacer Advisors Inc. grew its stake in 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 buying an additional 17,623 shares during the period. Meridian Wealth Management LLC purchased a new stake in Colgate-Palmolive during the third quarter worth approximately $1,133,000. Finally, Great Valley Advisor Group Inc. grew its stake in Colgate-Palmolive by 76.2% during the third quarter. Great Valley Advisor Group Inc. now owns 14,387 shares of the company’s stock worth $1,494,000 after buying an additional 6,224 shares during the period. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Morgan Stanley decreased their price objective on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. UBS Group reduced 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 report on Monday, February 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $101.00 target price on shares of Colgate-Palmolive in a research report on Wednesday, January 29th. Piper Sandler reduced their target price on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Finally, Wells Fargo & Company reduced their target price on shares of Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $101.72.

Colgate-Palmolive Stock Up 0.0 %

Shares of NYSE:CL opened at $90.30 on Monday. The stock has a market capitalization of $73.28 billion, a price-to-earnings ratio of 25.65, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a 1-year low of $85.32 and a 1-year high of $109.30. The company’s fifty day moving average is $89.33 and its two-hundred day moving average is $94.07. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, January 31st. The company reported $0.91 earnings per share 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 quarter in the previous year, the business earned $0.87 EPS. Equities analysts anticipate that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive Increases Dividend

The company also recently declared 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. The ex-dividend date is Thursday, April 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.30%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s dividend payout ratio is currently 56.82%.

Colgate-Palmolive declared that its board has approved a stock repurchase 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 typically a sign that the company’s board 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.