Nomura Asset Management Co. Ltd. Has $80.01 Million Stock Holdings in Colgate-Palmolive (NYSE:CL)

Nomura Asset Management Co. Ltd. boosted its position in Colgate-Palmolive (NYSE:CL) by 3.3% in the 4th quarter, HoldingsChannel reports. The firm owned 880,132 shares of the company’s stock after acquiring an additional 28,322 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Colgate-Palmolive were worth $80,013,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Kohmann Bosshard Financial Services LLC bought a new position in shares of Colgate-Palmolive during the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC bought a new position in Colgate-Palmolive during the fourth quarter worth $27,000. Union Bancaire Privee UBP SA acquired a new position in shares of Colgate-Palmolive in the fourth quarter valued at $32,000. Briaud Financial Planning Inc bought a new position in shares of Colgate-Palmolive in the fourth quarter valued at about $32,000. Finally, Wintrust Investments LLC acquired a new stake in shares of Colgate-Palmolive during the 4th quarter worth about $33,000. Institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Piper Sandler cut their price objective on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. UBS Group dropped their price target on Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating for the company in a report on Monday, February 3rd. StockNews.com lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Tuesday. Royal Bank of Canada reissued a “sector perform” rating and set a $101.00 target price on shares of Colgate-Palmolive in a report on Wednesday, January 29th. Finally, Raymond James restated an “outperform” rating and issued a $105.00 price target (down from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Hold” and an average price target of $102.06.

Colgate-Palmolive Stock Up 1.3 %

Shares of NYSE CL opened at $93.25 on Friday. The company has a 50 day simple moving average of $89.62 and a 200 day simple moving average of $93.80. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58. Colgate-Palmolive has a 1 year low of $85.32 and a 1 year high of $109.30. The firm has a market cap of $75.68 billion, a PE ratio of 26.49, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last released 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 quarter in the prior year, the company earned $0.87 earnings per share. On average, research analysts forecast that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th will be paid a $0.52 dividend. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, April 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.23%. Colgate-Palmolive’s dividend payout ratio is presently 59.09%.

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

Colgate-Palmolive Company 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.