Colgate-Palmolive (NYSE:CL) Position Lifted by Coerente Capital Management

Coerente Capital Management raised its stake in shares of Colgate-Palmolive (NYSE:CL) by 0.3% during the first quarter, HoldingsChannel reports. The fund owned 252,322 shares of the company’s stock after acquiring an additional 723 shares during the quarter. Colgate-Palmolive comprises approximately 4.6% of Coerente Capital Management’s holdings, making the stock its 11th largest position. Coerente Capital Management’s holdings in Colgate-Palmolive were worth $23,643,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Axxcess Wealth Management LLC lifted its position in Colgate-Palmolive by 0.3% in the 4th quarter. Axxcess Wealth Management LLC now owns 38,786 shares of the company’s stock valued at $3,526,000 after purchasing an additional 117 shares during the last quarter. Wescott Financial Advisory Group LLC increased its stake in Colgate-Palmolive by 3.5% during the 4th quarter. Wescott Financial Advisory Group LLC now owns 3,517 shares of the company’s stock valued at $320,000 after buying an additional 119 shares during the period. Aberdeen Wealth Management LLC increased its stake in Colgate-Palmolive by 0.6% during the 4th quarter. Aberdeen Wealth Management LLC now owns 20,651 shares of the company’s stock valued at $1,877,000 after buying an additional 125 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its stake in Colgate-Palmolive by 4.0% during the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 3,388 shares of the company’s stock valued at $317,000 after buying an additional 130 shares during the period. Finally, TCW Group Inc. increased its stake in Colgate-Palmolive by 0.8% during the 4th quarter. TCW Group Inc. now owns 15,932 shares of the company’s stock valued at $1,448,000 after buying an additional 131 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on CL. Wall Street Zen cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th. Barclays lowered their target price on shares of 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. UBS Group raised their target price on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Citigroup lifted their price objective 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. Finally, Piper Sandler lowered their price objective on shares of 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 research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Colgate-Palmolive has a consensus rating of “Hold” and an average target price of $102.12.

Colgate-Palmolive Stock Performance

CL stock opened at $92.02 on Thursday. 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 stock has a market cap of $74.57 billion, a P/E ratio of 26.14, a P/E/G ratio of 4.20 and a beta of 0.38. The firm has a 50 day simple moving average of $91.64 and a 200 day simple moving average of $91.13. Colgate-Palmolive has a 52 week low of $85.32 and a 52 week high of $109.30.

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

Colgate-Palmolive announced that its Board of Directors has authorized a share repurchase program on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.26%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 58.76%.

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.