Focus Partners Wealth Acquires 33,219 Shares of Colgate-Palmolive (NYSE:CL)

Focus Partners Wealth grew its position in Colgate-Palmolive (NYSE:CL - Free Report) by 22.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 179,636 shares of the company's stock after purchasing an additional 33,219 shares during the period. Focus Partners Wealth's holdings in Colgate-Palmolive were worth $16,331,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CL. Vanguard Group Inc. raised its holdings in Colgate-Palmolive by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 81,303,059 shares of the company's stock worth $7,391,261,000 after acquiring an additional 588,230 shares in the last quarter. Geode Capital Management LLC raised its holdings in Colgate-Palmolive by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 20,518,014 shares of the company's stock worth $1,868,723,000 after acquiring an additional 324,683 shares in the last quarter. Norges Bank bought a new stake in Colgate-Palmolive during the fourth quarter worth about $912,375,000. Northern Trust Corp raised its holdings in Colgate-Palmolive by 11.7% during the fourth quarter. Northern Trust Corp now owns 9,497,819 shares of the company's stock worth $863,447,000 after acquiring an additional 993,328 shares in the last quarter. Finally, Amundi raised its holdings in Colgate-Palmolive by 12.8% during the fourth quarter. Amundi now owns 9,200,144 shares of the company's stock worth $806,015,000 after acquiring an additional 1,040,604 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Price Performance

NYSE:CL traded up $1.99 during trading hours on Thursday, reaching $89.56. 4,002,889 shares of the company were exchanged, compared to its average volume of 4,650,558. The company has a market capitalization of $72.58 billion, a P/E ratio of 25.44, a P/E/G ratio of 4.20 and a beta of 0.39. Colgate-Palmolive has a 1-year low of $85.32 and a 1-year high of $109.30. 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 business has a 50 day moving average of $91.87 and a 200 day moving average of $91.38.

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

Colgate-Palmolive announced that its board has authorized a stock repurchase program on Thursday, March 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to repurchase up to 6.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its shares are 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 dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, April 17th. This is a boost from Colgate-Palmolive's previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 2.32%. Colgate-Palmolive's dividend payout ratio is presently 58.76%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CL shares. UBS Group boosted their price target on Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. StockNews.com downgraded Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Raymond James reissued 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. Piper Sandler lowered their price target on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a research report on Monday, March 31st. Finally, Wells Fargo & Company boosted their price target on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $102.39.

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.