Norges Bank Purchases Shares of 10,036,020 Colgate-Palmolive (NYSE:CL)

Norges Bank acquired a new position in Colgate-Palmolive (NYSE:CL) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,036,020 shares of the company’s stock, valued at approximately $912,375,000.

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

Colgate-Palmolive Trading Up 1.3 %

Shares of NYSE CL opened at $93.25 on Friday. Colgate-Palmolive has a 1-year low of $85.32 and a 1-year 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 company has a 50-day moving average of $89.62 and a two-hundred day moving average of $93.80. The company has a market cap of $75.68 billion, a PE ratio of 26.49, a P/E/G ratio of 4.20 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last released 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 return on equity of 477.77% and a net margin of 14.38%. During the same quarter in the prior year, the company earned $0.87 earnings per share. As a group, equities analysts expect that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive announced that its board has approved a share repurchase plan on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.8% of its stock through open market purchases. Stock repurchase plans are typically 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 issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Thursday, April 17th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s payout ratio is currently 59.09%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CL shares. JPMorgan Chase & Co. raised their price objective on shares of Colgate-Palmolive from $97.00 to $99.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. StockNews.com lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Tuesday. Barclays increased their target price on shares of Colgate-Palmolive from $83.00 to $89.00 and gave the company an “equal weight” rating in a research note on Thursday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $101.00 price target on shares of Colgate-Palmolive in a report on Wednesday, January 29th. Finally, Raymond James reissued an “outperform” rating and set a $105.00 price objective (down previously from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $102.06.

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.