Wealth Enhancement Advisory Services LLC Boosts Holdings in Colgate-Palmolive (NYSE:CL)

Wealth Enhancement Advisory Services LLC lifted its stake in Colgate-Palmolive (NYSE:CL) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 266,407 shares of the company’s stock after purchasing an additional 11,484 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Colgate-Palmolive were worth $24,219,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Axxcess Wealth Management LLC grew its holdings in shares of Colgate-Palmolive by 0.3% during the 4th quarter. Axxcess Wealth Management LLC now owns 38,786 shares of the company’s stock worth $3,526,000 after purchasing an additional 117 shares during the period. Commonwealth Financial Services LLC raised its position in Colgate-Palmolive by 4.5% in the 4th quarter. Commonwealth Financial Services LLC now owns 2,716 shares of the company’s stock valued at $247,000 after purchasing an additional 118 shares in the last quarter. Wescott Financial Advisory Group LLC raised its position in Colgate-Palmolive by 3.5% in the 4th quarter. Wescott Financial Advisory Group LLC now owns 3,517 shares of the company’s stock valued at $320,000 after purchasing an additional 119 shares in the last quarter. D Orazio & Associates Inc. raised its position in Colgate-Palmolive by 4.2% in the 4th quarter. D Orazio & Associates Inc. now owns 2,982 shares of the company’s stock valued at $271,000 after purchasing an additional 120 shares in the last quarter. Finally, Aberdeen Wealth Management LLC raised its position in shares of Colgate-Palmolive by 0.6% during the 4th quarter. Aberdeen Wealth Management LLC now owns 20,651 shares of the company’s stock worth $1,877,000 after acquiring an additional 125 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Price Performance

CL opened at $92.25 on Friday. The stock has a market cap of $74.76 billion, a price-to-earnings ratio of 26.21, a PEG ratio of 4.20 and a beta of 0.39. Colgate-Palmolive has a 1 year low of $85.32 and a 1 year high of $109.30. 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 stock has a fifty day moving average price of $91.95 and a 200 day moving average price of $91.26.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, April 25th. The company reported $0.91 earnings per share 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 company had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.92 billion. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. Analysts forecast that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive declared that its Board of Directors has initiated a stock repurchase plan 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 stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 17th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Thursday, April 17th. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s payout ratio is currently 58.76%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CL shares. Wells Fargo & Company raised their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 2nd. Barclays lowered their target price on Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. lifted their price target on Colgate-Palmolive from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, April 28th. UBS Group lifted their price target on Colgate-Palmolive from $105.00 to $109.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Finally, Piper Sandler reduced their price objective on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating for the company in a report on Monday, March 31st. One analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Hold” and an average price target of $102.12.

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.