Vicus Capital Reduces Holdings in Colgate-Palmolive (NYSE:CL)

Vicus Capital decreased its holdings in shares of Colgate-Palmolive (NYSE:CL) by 8.1% during the first quarter, Holdings Channel.com reports. The fund owned 65,869 shares of the company’s stock after selling 5,814 shares during the period. Vicus Capital’s holdings in Colgate-Palmolive were worth $6,172,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Colgate-Palmolive during the fourth quarter worth about $26,000. Centricity Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive during the fourth quarter worth about $27,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Colgate-Palmolive during the fourth quarter worth about $31,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Colgate-Palmolive during the fourth quarter worth about $32,000. Finally, Briaud Financial Planning Inc purchased a new stake in shares of Colgate-Palmolive during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Trading Down 0.2%

Colgate-Palmolive stock opened at $90.10 on Tuesday. 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 12 month low of $85.32 and a 12 month high of $109.30. The stock’s 50 day simple moving average is $91.78 and its two-hundred day simple moving average is $90.95. The firm has a market cap of $73.02 billion, a PE ratio of 25.60, a P/E/G ratio of 4.20 and a beta of 0.38.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $4.92 billion. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.86 EPS. Analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

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

Colgate-Palmolive declared that its Board of Directors has authorized a stock buyback program on Thursday, March 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CL. UBS Group lifted their target price on Colgate-Palmolive from $105.00 to $109.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Wells Fargo & Company upped their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the company an “underweight” rating in a research report on Wednesday, April 2nd. Piper Sandler dropped their target price on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. Barclays dropped their target price on Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. Finally, Citigroup upped their target price on Colgate-Palmolive from $103.00 to $108.00 and gave the company a “buy” rating in a research report on Monday, April 28th. One investment 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 company currently has an average rating of “Hold” and a consensus price target of $102.12.

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.