Colgate-Palmolive (NYSE:CL) Shares Purchased by Griffin Asset Management Inc.

Griffin Asset Management Inc. increased its position in shares of Colgate-Palmolive (NYSE:CL) by 0.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,575 shares of the company’s stock after purchasing an additional 154 shares during the period. Griffin Asset Management Inc.’s holdings in Colgate-Palmolive were worth $1,647,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC acquired a new position in Colgate-Palmolive in the fourth quarter valued at $26,000. Centricity Wealth Management LLC acquired a new stake in Colgate-Palmolive in the fourth quarter valued at about $27,000. Vermillion Wealth Management Inc. purchased a new position in Colgate-Palmolive in the fourth quarter valued at about $31,000. Union Bancaire Privee UBP SA purchased a new position in Colgate-Palmolive in the fourth quarter valued at about $32,000. Finally, Briaud Financial Planning Inc purchased a new position in Colgate-Palmolive in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analysts Set New Price Targets

CL has been the subject of a number of recent research reports. UBS Group raised their price objective on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the stock a “buy” rating in a research note on Thursday, April 17th. Wall Street Zen lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. Citigroup lifted their target price on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the company a “buy” rating in a report on Monday, April 28th. Piper Sandler cut their price objective on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, Colgate-Palmolive presently has a consensus rating of “Hold” and a consensus price target of $102.12.

Colgate-Palmolive Price Performance

NYSE CL opened at $90.20 on Friday. Colgate-Palmolive has a 52 week low of $85.32 and a 52 week 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 market cap of $73.10 billion, a price-to-earnings ratio of 25.63, a price-to-earnings-growth ratio of 4.20 and a beta of 0.38. The company has a 50-day moving average price of $91.75 and a two-hundred day moving average price of $91.07.

Colgate-Palmolive (NYSE:CL) last posted its 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 firm 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%. Colgate-Palmolive’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 EPS. Analysts forecast that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive’s dividend payout ratio is currently 58.76%.

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 repurchase up to 6.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is 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.