Mirae Asset Global Investments Co. Ltd. Has $14.40 Million Position in Colgate-Palmolive (NYSE:CL)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Colgate-Palmolive (NYSE:CL) by 20.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 157,811 shares of the company’s stock after purchasing an additional 26,382 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Colgate-Palmolive were worth $14,402,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in CL. Dynamic Advisor Solutions LLC boosted its holdings in Colgate-Palmolive by 67.1% during the third quarter. Dynamic Advisor Solutions LLC now owns 15,790 shares of the company’s stock valued at $1,639,000 after purchasing an additional 6,342 shares in the last quarter. Atomi Financial Group Inc. raised its stake in Colgate-Palmolive by 12.8% during the third quarter. Atomi Financial Group Inc. now owns 6,095 shares of the company’s stock worth $633,000 after acquiring an additional 692 shares in the last quarter. Brookstone Capital Management lifted its holdings in shares of Colgate-Palmolive by 11.7% during the third quarter. Brookstone Capital Management now owns 17,366 shares of the company’s stock valued at $1,803,000 after acquiring an additional 1,814 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Colgate-Palmolive in the third quarter valued at about $339,000. Finally, CWM LLC boosted its holdings in shares of Colgate-Palmolive by 28.7% in the 3rd quarter. CWM LLC now owns 35,216 shares of the company’s stock worth $3,656,000 after acquiring an additional 7,861 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL opened at $85.60 on Friday. The firm’s 50 day simple moving average is $90.78 and its 200 day simple moving average is $96.92. Colgate-Palmolive has a fifty-two week low of $82.68 and a fifty-two week high of $109.30. The company has a market capitalization of $69.94 billion, a price-to-earnings ratio of 24.32, a P/E/G ratio of 3.61 and a beta of 0.44. The company has a debt-to-equity ratio of 9.46, a current ratio of 0.41 and a quick ratio of 0.26.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, January 31st. The company reported $0.91 earnings per share (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 period last year, the business posted $0.87 earnings per share. As a group, sell-side analysts forecast that Colgate-Palmolive will post 3.74 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Tuesday, January 21st. Colgate-Palmolive’s payout ratio is currently 56.82%.

Analyst Ratings Changes

CL has been the subject of several research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $101.00 price objective on shares of Colgate-Palmolive in a research report on Wednesday, January 29th. Stifel Nicolaus reduced their price target on shares of Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating on the stock in a research report on Monday. Barclays lowered their price objective on shares of Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. TD Cowen decreased their price target 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. Finally, Piper Sandler lowered their price target on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $101.16.

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.