Royal Bank of Canada Purchases 488,404 Shares of Colgate-Palmolive (NYSE:CL)

Royal Bank of Canada boosted its position in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 10.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,070,517 shares of the company's stock after purchasing an additional 488,404 shares during the period. Royal Bank of Canada owned about 0.62% of Colgate-Palmolive worth $460,962,000 at the end of the most recent quarter.

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

Colgate-Palmolive Stock Performance

Shares of CL opened at $91.26 on Friday. 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 firm has a fifty day simple moving average of $91.65 and a 200 day simple moving average of $91.31. Colgate-Palmolive has a 12 month low of $85.32 and a 12 month high of $109.30. The stock has a market capitalization of $73.96 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 4.20 and a beta of 0.39.

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Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.05. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. The firm had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. During the same period in the prior year, the firm posted $0.86 earnings per share. The company's quarterly revenue was down 3.0% compared to the same quarter last year. Research analysts forecast that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive announced that its board has initiated a stock buyback program on Thursday, March 20th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

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The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th were given a dividend of $0.52 per share. This is a positive change from Colgate-Palmolive's previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 2.28%. The ex-dividend date was Thursday, April 17th. Colgate-Palmolive's dividend payout ratio is 58.76%.

Analyst Ratings Changes

CL has been the subject of a number of research analyst reports. Barclays dropped their target price on shares of Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. Citigroup boosted their price target on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. Royal Bank of Canada reissued a "sector perform" rating and set a $101.00 price target on shares of Colgate-Palmolive in a research note on Wednesday, January 29th. Morgan Stanley dropped their price target 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. Finally, UBS Group boosted their price target on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $102.12.

Get Our Latest Analysis on Colgate-Palmolive

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.

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