Colgate-Palmolive (NYSE:CL) Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. trimmed its position in Colgate-Palmolive (NYSE:CL) by 0.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 166,689 shares of the company’s stock after selling 1,165 shares during the period. Baird Financial Group Inc.’s holdings in Colgate-Palmolive were worth $15,154,000 as of its most recent SEC filing.

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

Colgate-Palmolive Price Performance

CL opened at $91.04 on Wednesday. The stock has a fifty day moving average price of $92.28 and a 200 day moving average price of $91.71. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. Colgate-Palmolive has a 1 year low of $85.32 and a 1 year high of $109.30. The stock has a market cap of $73.78 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 4.20 and a beta of 0.39.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.05. The business had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.92 billion. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. The firm’s revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.86 EPS. 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 repurchase plan on Thursday, March 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are 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 $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.28%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, April 17th. Colgate-Palmolive’s payout ratio is currently 58.76%.

Wall Street Analysts Forecast Growth

CL has been the subject of several analyst reports. Citigroup upped their target price on Colgate-Palmolive from $103.00 to $108.00 and gave the company a “buy” rating in a report on Monday, April 28th. StockNews.com lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Wednesday. Wells Fargo & Company raised their target price on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “underweight” rating in a report on Wednesday, April 2nd. Royal Bank of Canada restated a “sector perform” rating and set a $101.00 price target on shares of Colgate-Palmolive in a report on Wednesday, January 29th. Finally, Piper Sandler decreased their price objective on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating for the company in a research note on Monday, March 31st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $102.39.

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.