Cresset Asset Management LLC Sells 63,291 Shares of Colgate-Palmolive (NYSE:CL)

Cresset Asset Management LLC decreased its position in Colgate-Palmolive (NYSE:CL - Free Report) by 34.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 117,874 shares of the company's stock after selling 63,291 shares during the quarter. Cresset Asset Management LLC's holdings in Colgate-Palmolive were worth $10,716,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CL. Barclays PLC raised its stake in shares of Colgate-Palmolive by 38.7% in the third quarter. Barclays PLC now owns 7,644,189 shares of the company's stock valued at $793,542,000 after acquiring an additional 2,132,747 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Colgate-Palmolive by 4.9% during the 3rd quarter. Principal Financial Group Inc. now owns 997,147 shares of the company's stock valued at $103,514,000 after purchasing an additional 46,944 shares in the last quarter. CWA Asset Management Group LLC raised its position in Colgate-Palmolive by 27.4% in the 4th quarter. CWA Asset Management Group LLC now owns 32,842 shares of the company's stock valued at $2,986,000 after purchasing an additional 7,056 shares during the last quarter. Canandaigua National Bank & Trust Co. boosted its stake in Colgate-Palmolive by 3.4% in the fourth quarter. Canandaigua National Bank & Trust Co. now owns 12,534 shares of the company's stock worth $1,139,000 after purchasing an additional 412 shares in the last quarter. Finally, Diversified Trust Co grew its holdings in shares of Colgate-Palmolive by 2.6% during the fourth quarter. Diversified Trust Co now owns 83,360 shares of the company's stock worth $7,578,000 after purchasing an additional 2,125 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Stock Up 0.3 %

Shares of Colgate-Palmolive stock opened at $91.04 on Wednesday. The company has a market capitalization of $73.78 billion, a P/E ratio of 25.86, a price-to-earnings-growth ratio of 4.20 and a beta of 0.39. 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 $92.28 and a two-hundred day moving average of $91.71. 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 posted its 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. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. The business had revenue of $4.91 billion during the quarter, compared to analysts' expectations of $4.92 billion. During the same period in the prior year, the business earned $0.86 EPS. Colgate-Palmolive's revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, equities analysts predict that Colgate-Palmolive will post 3.75 EPS for the current year.

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

Colgate-Palmolive Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be paid a $0.52 dividend. The ex-dividend date is Thursday, April 17th. This is a positive change from Colgate-Palmolive's previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 2.28%. Colgate-Palmolive's dividend payout ratio is presently 58.76%.

Analyst Ratings Changes

Several research analysts recently issued reports on CL shares. UBS Group upped their price target on shares of 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 lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday. Stifel Nicolaus lowered their price target on shares of Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating for the company in a report on Monday, February 3rd. Morgan Stanley reduced their price objective on Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Finally, Wells Fargo & Company lifted their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a research note on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $102.39.

About Colgate-Palmolive

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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