Bfsg LLC Grows Stock Holdings in Colgate-Palmolive (NYSE:CL)

Bfsg LLC raised its stake in Colgate-Palmolive (NYSE:CL) by 2.3% during the 1st quarter, HoldingsChannel reports. The firm owned 83,946 shares of the company’s stock after acquiring an additional 1,859 shares during the period. Colgate-Palmolive accounts for 1.0% of Bfsg LLC’s portfolio, making the stock its 26th biggest position. Bfsg LLC’s holdings in Colgate-Palmolive were worth $7,866,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Colgate-Palmolive in the 4th quarter valued at approximately $26,000. Centricity Wealth Management LLC purchased a new position in Colgate-Palmolive in the 4th quarter valued at $27,000. Vermillion Wealth Management Inc. purchased a new position in Colgate-Palmolive in the 4th quarter valued at $31,000. Union Bancaire Privee UBP SA purchased a new position in Colgate-Palmolive in the 4th quarter valued at $32,000. Finally, Briaud Financial Planning Inc purchased a new stake in shares of Colgate-Palmolive in the fourth quarter valued at about $32,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Down 0.2%

Shares of NYSE CL opened at $90.10 on Tuesday. Colgate-Palmolive has a 12-month low of $85.32 and a 12-month high of $109.30. The company has a market capitalization of $73.02 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 4.20 and a beta of 0.38. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58. The firm’s 50-day moving average is $91.78 and its two-hundred day moving average is $90.95.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $4.92 billion. During the same quarter in the prior year, the company earned $0.86 EPS. Colgate-Palmolive’s revenue was down 3.0% on a year-over-year basis. Equities analysts anticipate that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

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

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 reacquire up to 6.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have recently weighed in on CL shares. 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 report on Friday, April 11th. Piper Sandler lowered their price objective on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. Citigroup lifted their price objective on Colgate-Palmolive from $103.00 to $108.00 and gave the company a “buy” rating in a report on Monday, April 28th. Wells Fargo & Company lifted their price target on Colgate-Palmolive from $83.00 to $88.00 and gave the company an “underweight” rating in a research note on Wednesday, April 2nd. Finally, 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Colgate-Palmolive has an average rating of “Hold” and an average target price 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.