Colgate-Palmolive (NYSE:CL) Shares Bought by Tompkins Financial Corp

Tompkins Financial Corp lifted its stake in shares of Colgate-Palmolive (NYSE:CL) by 12.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,300 shares of the company’s stock after acquiring an additional 600 shares during the quarter. Tompkins Financial Corp’s holdings in Colgate-Palmolive were worth $497,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Colgate-Palmolive by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 81,303,059 shares of the company’s stock valued at $7,391,261,000 after purchasing an additional 588,230 shares during the period. Geode Capital Management LLC raised its holdings in Colgate-Palmolive by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 20,518,014 shares of the company’s stock worth $1,868,723,000 after buying an additional 324,683 shares during the period. Norges Bank purchased a new stake in Colgate-Palmolive during the fourth quarter valued at about $912,375,000. Northern Trust Corp boosted its holdings in shares of Colgate-Palmolive by 11.7% in the fourth quarter. Northern Trust Corp now owns 9,497,819 shares of the company’s stock worth $863,447,000 after buying an additional 993,328 shares during the period. Finally, Amundi increased its position in shares of Colgate-Palmolive by 12.8% in the fourth quarter. Amundi now owns 9,200,144 shares of the company’s stock worth $806,015,000 after acquiring an additional 1,040,604 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an “underweight” rating in a research report on Wednesday, April 2nd. Raymond James restated an “outperform” rating and issued a $105.00 target price (down previously from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. UBS Group lifted their price target on Colgate-Palmolive from $105.00 to $109.00 and gave the company a “buy” rating in a report on Thursday, April 17th. Citigroup increased their price objective on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a “buy” rating in a research note on Monday, April 28th. Finally, Piper Sandler lowered their target price on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a research note on Monday, March 31st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $102.12.

Colgate-Palmolive Stock Performance

CL opened at $92.25 on Friday. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92. The company has a market cap of $74.76 billion, a PE ratio of 26.21, a price-to-earnings-growth ratio of 4.20 and a beta of 0.39. The stock has a 50-day moving average of $91.95 and a 200-day moving average of $91.26. Colgate-Palmolive has a 52-week low of $85.32 and a 52-week high of $109.30.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. The firm had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.92 billion. During the same quarter in the prior year, the business earned $0.86 earnings per share. The company’s revenue was down 3.0% on a year-over-year basis. As a group, equities research analysts forecast that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 17th were paid a $0.52 dividend. The ex-dividend date was Thursday, April 17th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 2.25%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 58.76%.

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