Legacy Advisors LLC Buys 659 Shares of Colgate-Palmolive Company (NYSE:CL)

Legacy Advisors LLC lifted its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 24.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,371 shares of the company’s stock after purchasing an additional 659 shares during the quarter. Legacy Advisors LLC’s holdings in Colgate-Palmolive were worth $316,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CL. Brighton Jones LLC boosted its position in shares of Colgate-Palmolive by 4.4% during the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock worth $962,000 after purchasing an additional 450 shares in the last quarter. Bernard Wealth Management Corp. bought a new position in shares of Colgate-Palmolive during the 4th quarter worth about $36,000. Union Bancaire Privee UBP SA bought a new position in Colgate-Palmolive in the 4th quarter valued at about $32,000. Impax Asset Management Group plc lifted its position in Colgate-Palmolive by 8.2% in the 4th quarter. Impax Asset Management Group plc now owns 19,904 shares of the company’s stock valued at $1,809,000 after acquiring an additional 1,508 shares in the last quarter. Finally, BankPlus Trust Department bought a new position in Colgate-Palmolive in the 4th quarter valued at about $46,000. Institutional investors own 80.41% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Barclays dropped their price target on shares of 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. UBS Group raised their price target on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Wall Street Zen cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th. Wells Fargo & Company raised their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an “underweight” rating in a research report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $101.69.

Colgate-Palmolive Trading Down 0.4%

Shares of CL stock opened at $87.80 on Thursday. The company has a 50 day moving average of $91.14 and a 200-day moving average of $90.67. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 8.96. Colgate-Palmolive Company has a 12-month low of $85.32 and a 12-month high of $109.30. The firm has a market cap of $71.15 billion, a P/E ratio of 24.80, a PEG ratio of 4.68 and a beta of 0.38.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.05. Colgate-Palmolive had a net margin of 14.52% and a return on equity of 461.04%. The company had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.92 billion. During the same quarter last year, the business posted $0.86 EPS. Colgate-Palmolive’s quarterly revenue was down 3.0% compared to the same quarter last year. Sell-side analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive declared that its board has authorized a share repurchase plan on Thursday, March 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to purchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be paid a $0.52 dividend. The ex-dividend date is Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a yield of 2.37%. Colgate-Palmolive’s dividend payout ratio is 58.76%.

About Colgate-Palmolive

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.