Patton Albertson Miller Group LLC decreased its stake in Colgate-Palmolive Company (NYSE:CL – Free Report) by 6.0% in the 1st quarter, Holdings Channel.com reports. The fund owned 8,279 shares of the company’s stock after selling 530 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Colgate-Palmolive were worth $776,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Personal CFO Solutions LLC bought a new position in shares of Colgate-Palmolive in the 1st quarter valued at $285,000. Aviva PLC lifted its position in shares of Colgate-Palmolive by 13.4% during the 4th quarter. Aviva PLC now owns 973,421 shares of the company’s stock worth $88,494,000 after buying an additional 114,855 shares in the last quarter. Vision Capital Management Inc. bought a new stake in Colgate-Palmolive during the 1st quarter valued at $322,000. Autumn Glory Partners LLC increased its stake in Colgate-Palmolive by 67.4% in the 1st 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 during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in Colgate-Palmolive during the first quarter valued at about $2,166,000. Institutional investors own 80.41% of the company’s stock.
Wall Street Analyst Weigh In
CL has been the topic of a number of recent analyst reports. Wells Fargo & Company increased 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. Piper Sandler cut their price target on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a research note on Monday, March 31st. UBS Group reduced their target price on shares of Colgate-Palmolive from $109.00 to $106.00 and set a “buy” rating for the company in a research report on Thursday. Barclays raised their price objective on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Wall Street Zen cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $101.00.
Colgate-Palmolive Stock Performance
CL stock opened at $87.28 on Friday. The firm has a market cap of $70.73 billion, a PE ratio of 24.66, a P/E/G ratio of 4.63 and a beta of 0.37. The business has a 50 day moving average of $90.40 and a 200-day moving average of $90.41. Colgate-Palmolive Company has a 12-month low of $85.32 and a 12-month high of $109.30. 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 (NYSE:CL – Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. Colgate-Palmolive had a return on equity of 461.04% and a net margin of 14.52%. The firm had revenue of $4.91 billion for the quarter, compared to analysts’ expectations of $4.92 billion. During the same period last year, the firm earned $0.86 earnings per share. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, sell-side analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.
Colgate-Palmolive Dividend Announcement
The business 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 $0.52 dividend. 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 (DPR) is 58.76%.
Colgate-Palmolive announced that its Board of Directors has approved a stock repurchase program on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership 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.
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