Cyndeo Wealth Partners LLC Sells 19,710 Shares of Colgate-Palmolive (NYSE:CL)

Cyndeo Wealth Partners LLC cut its position in shares of Colgate-Palmolive (NYSE:CL) by 61.7% in the first quarter, Holdings Channel reports. The institutional investor owned 12,241 shares of the company’s stock after selling 19,710 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Colgate-Palmolive were worth $1,147,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CL. Kohmann Bosshard Financial Services LLC bought a new position in shares of Colgate-Palmolive during the fourth quarter worth about $26,000. Centricity Wealth Management LLC bought a new position in shares of Colgate-Palmolive during the fourth quarter worth about $27,000. Vermillion Wealth Management Inc. bought a new position in Colgate-Palmolive in the fourth quarter valued at approximately $31,000. Union Bancaire Privee UBP SA bought a new position in Colgate-Palmolive in the fourth quarter valued at approximately $32,000. Finally, Briaud Financial Planning Inc bought a new position in Colgate-Palmolive in the fourth quarter valued at approximately $32,000. 80.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CL shares. Wall Street Zen downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. raised 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. Citigroup raised their price target on Colgate-Palmolive from $103.00 to $108.00 and gave the company a “buy” rating in a research note on Monday, April 28th. Piper Sandler decreased their price target on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating for the company in a research note on Monday, March 31st. Finally, Barclays decreased their price target on Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating for the company in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $102.12.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $90.10 on Tuesday. The stock has a market cap of $73.02 billion, a P/E ratio of 25.60, a PEG ratio of 4.20 and a beta of 0.38. The stock has a 50 day simple moving average of $91.78 and a 200 day simple moving average of $90.95. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. Colgate-Palmolive has a 1-year low of $85.32 and a 1-year high of $109.30.

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

Colgate-Palmolive Announces Dividend

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

Colgate-Palmolive declared that its Board of Directors has authorized a stock buyback plan 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 plans are generally 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.