61,700 Shares in Colgate-Palmolive (NYSE:CL) Acquired by Hennessy Advisors Inc.

Hennessy Advisors Inc. purchased a new position in shares of Colgate-Palmolive (NYSE:CL - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 61,700 shares of the company's stock, valued at approximately $5,781,000.

Several other large investors have also recently made changes to their positions in the company. Axxcess Wealth Management LLC increased its position in shares of Colgate-Palmolive by 0.3% during the fourth quarter. Axxcess Wealth Management LLC now owns 38,786 shares of the company's stock worth $3,526,000 after purchasing an additional 117 shares in the last quarter. Wescott Financial Advisory Group LLC grew its holdings in Colgate-Palmolive by 3.5% in the 4th quarter. Wescott Financial Advisory Group LLC now owns 3,517 shares of the company's stock valued at $320,000 after buying an additional 119 shares in the last quarter. Aberdeen Wealth Management LLC grew its holdings in Colgate-Palmolive by 0.6% in the 4th quarter. Aberdeen Wealth Management LLC now owns 20,651 shares of the company's stock valued at $1,877,000 after buying an additional 125 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its holdings in Colgate-Palmolive by 4.0% in the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 3,388 shares of the company's stock valued at $317,000 after buying an additional 130 shares in the last quarter. Finally, TCW Group Inc. grew its holdings in Colgate-Palmolive by 0.8% in the 4th quarter. TCW Group Inc. now owns 15,932 shares of the company's stock valued at $1,448,000 after buying an additional 131 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Price Performance

CL opened at $90.20 on Friday. The stock's 50-day moving average price is $91.75 and its 200 day moving average price is $91.03. Colgate-Palmolive has a 12-month low of $85.32 and a 12-month high of $109.30. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. The firm has a market cap of $73.10 billion, a price-to-earnings ratio of 25.63, a PEG ratio of 4.20 and a beta of 0.38.

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 the consensus estimate of $0.86 by $0.05. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. The firm had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. During the same quarter in the prior year, the company earned $0.86 EPS. Colgate-Palmolive's revenue was down 3.0% on a year-over-year basis. As a group, sell-side analysts expect that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The company 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 2.31%. 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 has initiated a share repurchase plan on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have issued reports on CL shares. Wall Street Zen cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Barclays dropped their target price on Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. Wells Fargo & Company upped 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. UBS Group upped their target price on Colgate-Palmolive from $105.00 to $109.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Finally, 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 report on Monday, March 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Colgate-Palmolive presently has a consensus rating of "Hold" and a consensus target price of $102.12.

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.

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