Colgate-Palmolive Company (NYSE:CL) Shares Purchased by Graypoint LLC

Graypoint LLC increased its position in shares of Colgate-Palmolive Company (NYSE:CL) by 16.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,131 shares of the company’s stock after acquiring an additional 1,136 shares during the quarter. Graypoint LLC’s holdings in Colgate-Palmolive were worth $762,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CL. Personal CFO Solutions LLC bought a new position in shares of Colgate-Palmolive in the first quarter worth about $285,000. Aviva PLC lifted its position in shares of Colgate-Palmolive by 13.4% in the fourth quarter. Aviva PLC now owns 973,421 shares of the company’s stock worth $88,494,000 after purchasing an additional 114,855 shares in the last quarter. Vision Capital Management Inc. bought a new stake in Colgate-Palmolive during the first quarter worth $322,000. Autumn Glory Partners LLC raised its position in Colgate-Palmolive by 67.4% during the first quarter. Autumn Glory Partners LLC now owns 8,905 shares of the company’s stock worth $851,000 after acquiring an additional 3,586 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of Colgate-Palmolive in the first quarter valued at about $2,166,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $87.28 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 8.96. The business has a 50 day moving average of $90.40 and a two-hundred day moving average of $90.41. The company has a market cap of $70.73 billion, a P/E ratio of 24.66, a PEG ratio of 4.63 and a beta of 0.37. Colgate-Palmolive Company has a 52 week low of $85.32 and a 52 week high of $109.30.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, beating 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 net margin of 14.52% and a return on equity of 461.04%. The firm’s revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the company earned $0.86 earnings per share. As a group, analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, July 18th. This represents a $2.08 annualized dividend and a dividend yield of 2.38%. Colgate-Palmolive’s dividend payout ratio is presently 58.76%.

Colgate-Palmolive announced that its board has authorized a stock buyback program on Thursday, March 20th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to repurchase up to 6.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CL. Wall Street Zen downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th. Citigroup boosted their price objective on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a “buy” rating in a report on Monday, April 28th. Wells Fargo & Company upped their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an “underweight” rating in a report on Wednesday, April 2nd. Barclays raised their price target on Colgate-Palmolive from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. increased their price objective on Colgate-Palmolive from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Colgate-Palmolive has an average rating of “Hold” and an average price target of $101.00.

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.