Cary Street Partners Financial LLC Invests $1.66 Million in Colgate-Palmolive (NYSE:CL)

Cary Street Partners Financial LLC purchased a new position in Colgate-Palmolive (NYSE:CL - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 18,292 shares of the company's stock, valued at approximately $1,663,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Chicago Partners Investment Group LLC raised its holdings in Colgate-Palmolive by 16.2% in the 4th quarter. Chicago Partners Investment Group LLC now owns 6,752 shares of the company's stock valued at $591,000 after acquiring an additional 943 shares in the last quarter. Aviva PLC raised its stake in shares of Colgate-Palmolive by 13.4% in the fourth quarter. Aviva PLC now owns 973,421 shares of the company's stock valued at $88,494,000 after purchasing an additional 114,855 shares in the last quarter. Peak Financial Advisors LLC bought a new position in shares of Colgate-Palmolive during the 4th quarter worth about $1,315,000. Fiduciary Alliance LLC bought a new position in Colgate-Palmolive during the fourth quarter worth about $4,066,000. Finally, Impact Partnership Wealth LLC acquired a new stake in Colgate-Palmolive in the 4th quarter valued at $803,000. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Trading Down 1.0 %

Shares of Colgate-Palmolive stock traded down $0.92 during trading on Friday, hitting $89.91. 3,846,241 shares of the company were exchanged, compared to its average volume of 4,624,606. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58. The firm has a market capitalization of $72.86 billion, a P/E ratio of 25.54, a price-to-earnings-growth ratio of 4.20 and a beta of 0.39. The firm's fifty day moving average price is $92.21 and its 200 day moving average price is $91.58. Colgate-Palmolive has a 1-year low of $85.32 and a 1-year high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.86 by $0.05. The firm had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.92 billion. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. The business's quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 earnings per share. As a group, sell-side analysts expect that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive declared that its board has authorized a stock buyback plan on Thursday, March 20th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 6.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.31%. This is a boost from Colgate-Palmolive's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, April 17th. Colgate-Palmolive's payout ratio is presently 58.76%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Piper Sandler reduced their target price on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. Citigroup raised their target price on Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a research note on Monday, April 28th. Raymond James reiterated an "outperform" rating and set a $105.00 price target (down previously from $110.00) on shares of Colgate-Palmolive in a research report on Monday, February 3rd. Finally, Wells Fargo & Company raised their price objective 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. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $102.39.

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.