Federated Hermes Inc. Buys 56,776 Shares of Colgate-Palmolive (NYSE:CL)

Federated Hermes Inc. lifted its stake in shares of Colgate-Palmolive (NYSE:CL) by 9.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 682,369 shares of the company’s stock after acquiring an additional 56,776 shares during the quarter. Federated Hermes Inc. owned approximately 0.08% of Colgate-Palmolive worth $62,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at about $26,000. Centricity Wealth Management LLC acquired a new position in Colgate-Palmolive in the fourth quarter valued at approximately $27,000. Union Bancaire Privee UBP SA bought a new position in shares of Colgate-Palmolive during the 4th quarter worth approximately $32,000. Briaud Financial Planning Inc bought a new stake in shares of Colgate-Palmolive in the 4th quarter valued at $32,000. Finally, Wintrust Investments LLC acquired a new position in shares of Colgate-Palmolive during the 4th quarter valued at $33,000. 80.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CL has been the subject of several research analyst reports. Wells Fargo & Company lifted their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an “underweight” rating in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. increased 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. Barclays upped their target price on Colgate-Palmolive from $83.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 27th. TD Cowen decreased their price target on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Finally, Morgan Stanley dropped their price objective on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $102.06.

Colgate-Palmolive Stock Down 4.4 %

Colgate-Palmolive stock opened at $91.75 on Monday. The firm has a 50 day moving average price of $90.27 and a 200-day moving average price of $93.13. 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 has a twelve month low of $85.32 and a twelve month high of $109.30. The company has a market capitalization of $74.41 billion, a P/E ratio of 26.06, a P/E/G ratio of 4.20 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.01. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. During the same quarter last year, the business earned $0.87 earnings per share. As a group, equities analysts predict that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive announced that its Board of Directors has approved a share buyback plan on Thursday, March 20th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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 given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Thursday, April 17th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 59.09%.

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.