FineMark National Bank & Trust Boosts Stock Holdings in Colgate-Palmolive (NYSE:CL)

FineMark National Bank & Trust grew its position in Colgate-Palmolive (NYSE:CL) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,413 shares of the company’s stock after acquiring an additional 392 shares during the quarter. FineMark National Bank & Trust’s holdings in Colgate-Palmolive were worth $1,674,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new stake in Colgate-Palmolive during the 4th quarter worth $26,000. Centricity Wealth Management LLC purchased a new position in shares of Colgate-Palmolive in the fourth quarter worth about $27,000. Union Bancaire Privee UBP SA acquired a new position in Colgate-Palmolive during the fourth quarter worth about $32,000. Briaud Financial Planning Inc purchased a new stake in Colgate-Palmolive during the 4th quarter valued at about $32,000. Finally, Wintrust Investments LLC acquired a new stake in Colgate-Palmolive in the 4th quarter valued at about $33,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Piper Sandler lowered their target price on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Barclays dropped their target price on Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. UBS Group reduced their price target on Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Raymond James reissued an “outperform” rating and issued a $105.00 price objective (down previously from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. Finally, StockNews.com downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $101.72.

Colgate-Palmolive Trading Down 1.5 %

NYSE CL opened at $89.52 on Wednesday. Colgate-Palmolive has a one year low of $85.32 and a one year high of $109.30. The firm has a 50 day simple moving average of $89.44 and a 200-day simple moving average of $93.82. The firm has a market cap of $72.65 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 4.20 and a beta of 0.40. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, January 31st. The company reported $0.91 EPS for the quarter, topping 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 in the prior year, the business earned $0.87 earnings per share. Equities research analysts anticipate that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th will be given a $0.52 dividend. The ex-dividend date is Thursday, April 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.32%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 56.82%.

Colgate-Palmolive announced that its board has authorized a share 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 purchase up to 6.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

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.