3Chopt Investment Partners LLC Buys Shares of 4,212 Colgate-Palmolive Company (NYSE:CL)

3Chopt Investment Partners LLC acquired a new stake in Colgate-Palmolive Company (NYSE:CL - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,212 shares of the company's stock, valued at approximately $395,000.

A number of other hedge funds have also recently modified their holdings of CL. Aviva PLC grew its position in Colgate-Palmolive by 13.4% in the fourth quarter. Aviva PLC now owns 973,421 shares of the company's stock worth $88,494,000 after acquiring an additional 114,855 shares during the period. SBI Securities Co. Ltd. purchased a new position in Colgate-Palmolive during the fourth quarter worth about $304,000. Jupiter Asset Management Ltd. boosted its stake in Colgate-Palmolive by 2.3% during the fourth quarter. Jupiter Asset Management Ltd. now owns 685,718 shares of the company's stock worth $62,339,000 after buying an additional 15,142 shares during the period. Summit Investment Advisors Inc. boosted its stake in Colgate-Palmolive by 10.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 32,710 shares of the company's stock worth $2,974,000 after buying an additional 3,187 shares during the period. Finally, Autumn Glory Partners LLC boosted its position in shares of Colgate-Palmolive by 67.4% during the 1st quarter. Autumn Glory Partners LLC now owns 8,905 shares of the company's stock worth $851,000 after purchasing an additional 3,586 shares during the period. Hedge funds and other institutional investors own 80.41% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CL shares. Piper Sandler lowered their price objective on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. Citigroup raised their price target on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Wells Fargo & Company raised their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a report on Wednesday, April 2nd. Wall Street Zen cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, Barclays lowered their price objective on shares of Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $101.69.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $88.80 on Friday. The stock has a market cap of $71.97 billion, a P/E ratio of 25.09, a price-to-earnings-growth ratio of 4.71 and a beta of 0.38. The company has a fifty day simple moving average of $90.86 and a 200-day simple moving average of $90.59. Colgate-Palmolive Company has a 12-month low of $85.32 and a 12-month high of $109.30. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 8.96.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced 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 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 461.04% and a net margin of 14.52%. Colgate-Palmolive's revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 EPS. Equities analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive's payout ratio is 58.76%.

Colgate-Palmolive announced that its Board of Directors has authorized a stock repurchase program on Thursday, March 20th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to buy up to 6.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.

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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