Bleakley Financial Group LLC Lowers Stake in Colgate-Palmolive Company (NYSE:CL)

Bleakley Financial Group LLC lowered its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 9.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 21,454 shares of the company’s stock after selling 2,160 shares during the period. Bleakley Financial Group LLC’s holdings in Colgate-Palmolive were worth $2,010,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Isthmus Partners LLC boosted its position in Colgate-Palmolive by 1.7% in the 1st quarter. Isthmus Partners LLC now owns 137,111 shares of the company’s stock valued at $12,847,000 after buying an additional 2,354 shares during the period. LRI Investments LLC boosted its position in Colgate-Palmolive by 3.8% in the 1st quarter. LRI Investments LLC now owns 5,644 shares of the company’s stock valued at $529,000 after buying an additional 207 shares during the period. Secured Retirement Advisors LLC boosted its position in Colgate-Palmolive by 564.3% in the 1st quarter. Secured Retirement Advisors LLC now owns 20,406 shares of the company’s stock valued at $1,912,000 after buying an additional 17,334 shares during the period. Oxbow Advisors LLC boosted its position in Colgate-Palmolive by 2.3% in the 1st quarter. Oxbow Advisors LLC now owns 30,328 shares of the company’s stock valued at $2,842,000 after buying an additional 691 shares during the period. Finally, TruNorth Capital Management LLC boosted its position in Colgate-Palmolive by 341.4% in the 1st quarter. TruNorth Capital Management LLC now owns 3,090 shares of the company’s stock valued at $290,000 after buying an additional 2,390 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $88.14 on Wednesday. The company’s fifty day moving average price is $90.53 and its 200 day moving average price is $90.46. Colgate-Palmolive Company has a 12 month low of $85.32 and a 12 month high of $109.30. The company has a debt-to-equity ratio of 8.96, a current ratio of 0.85 and a quick ratio of 0.54. The firm has a market capitalization of $71.43 billion, a P/E ratio of 24.90, a P/E/G ratio of 4.70 and a beta of 0.37.

Colgate-Palmolive (NYSE:CL) last announced its quarterly 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. Colgate-Palmolive had a net margin of 14.52% and a return on equity of 461.04%. The firm had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. During the same period last year, the business earned $0.86 EPS. Colgate-Palmolive’s revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, sell-side analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive announced that its Board of Directors has approved a stock buyback program on Thursday, March 20th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be paid 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 2.36%. Colgate-Palmolive’s dividend payout ratio is currently 58.76%.

Wall Street Analysts Forecast Growth

CL has been the subject of several recent research reports. 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. 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. Piper Sandler decreased their price objective on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating for the company in a research report on Monday, March 31st. Finally, Barclays lifted their price objective on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $101.20.

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.