Focus Partners Wealth Raises Stock Holdings in Colgate-Palmolive (NYSE:CL)

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

Other hedge funds have also added to or reduced their stakes in the company. Barclays PLC grew its holdings in shares of Colgate-Palmolive by 38.7% during the third quarter. Barclays PLC now owns 7,644,189 shares of the company's stock worth $793,542,000 after purchasing an additional 2,132,747 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in Colgate-Palmolive by 5.3% in the 4th quarter. Harbor Capital Advisors Inc. now owns 13,874 shares of the company's stock worth $1,261,000 after buying an additional 702 shares during the last quarter. Czech National Bank lifted its position in Colgate-Palmolive by 6.4% in the 4th quarter. Czech National Bank now owns 177,145 shares of the company's stock worth $16,104,000 after buying an additional 10,696 shares during the last quarter. Fiduciary Alliance LLC bought a new stake in Colgate-Palmolive in the 4th quarter worth approximately $4,066,000. Finally, Trust Co. of Toledo NA OH lifted its position in Colgate-Palmolive by 3.8% in the 4th quarter. Trust Co. of Toledo NA OH now owns 18,096 shares of the company's stock worth $1,645,000 after buying an additional 663 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on CL. Piper Sandler dropped their target price on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. StockNews.com downgraded Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Stifel Nicolaus dropped their target price on Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating for the company in a research report on Monday, February 3rd. Citigroup boosted their target price on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $101.00 price objective on shares of Colgate-Palmolive in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, Colgate-Palmolive presently has an average rating of "Hold" and a consensus price target of $102.12.

Colgate-Palmolive Trading Up 1.8%

Shares of Colgate-Palmolive stock traded up $1.63 during midday trading on Friday, reaching $91.26. 4,650,320 shares of the company's stock traded hands, compared to its average volume of 4,658,290. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92. The company has a market cap of $73.96 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 4.20 and a beta of 0.39. The stock has a 50 day moving average of $91.65 and a 200-day moving average of $91.27. Colgate-Palmolive has a 12 month low of $85.32 and a 12 month high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.05. The company had revenue of $4.91 billion during 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 revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 earnings per share. As a group, equities analysts expect that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 17th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.28%. This is a boost from Colgate-Palmolive's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Thursday, April 17th. Colgate-Palmolive's dividend payout ratio is presently 58.76%.

Colgate-Palmolive announced that its Board of Directors has authorized a stock buyback program on Thursday, March 20th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 6.8% of its shares through open market purchases. Shares repurchase programs are usually 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.