Advisor Resource Council Buys Shares of 3,341 Colgate-Palmolive Company (NYSE:CL)

Advisor Resource Council bought a new stake in Colgate-Palmolive Company (NYSE:CL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,341 shares of the company's stock, valued at approximately $313,000.

A number of other institutional investors have also added to or reduced their stakes in CL. Norges Bank acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at approximately $912,375,000. Diamond Hill Capital Management Inc. bought a new stake in Colgate-Palmolive in the 4th quarter valued at $348,718,000. AMF Tjanstepension AB lifted its holdings in Colgate-Palmolive by 1,088.8% during the 4th quarter. AMF Tjanstepension AB now owns 2,569,394 shares of the company's stock valued at $233,584,000 after purchasing an additional 2,353,268 shares during the last quarter. Deutsche Bank AG boosted its position in Colgate-Palmolive by 35.6% during the fourth quarter. Deutsche Bank AG now owns 6,922,994 shares of the company's stock worth $629,369,000 after purchasing an additional 1,816,865 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Colgate-Palmolive in the fourth quarter valued at $132,405,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CL has been the subject of a number of research reports. UBS Group raised their target price on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Piper Sandler cut 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 boosted their price objective on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a report on Monday, April 28th. Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Finally, Barclays dropped their price target 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. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $101.69.

Colgate-Palmolive Price Performance

Shares of NYSE CL traded up $1.01 during mid-day trading on Friday, reaching $88.80. The company had a trading volume of 6,851,824 shares, compared to its average volume of 4,795,974. The firm has a market cap of $71.97 billion, a price-to-earnings ratio of 25.09, a PEG ratio of 4.66 and a beta of 0.38. The business's 50-day simple moving average is $90.99 and its 200 day simple moving average is $90.64. Colgate-Palmolive Company has a one year low of $85.32 and a one year high of $109.30. The company has a debt-to-equity ratio of 8.96, a quick ratio of 0.54 and a current ratio of 0.85.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its earnings results on Friday, April 25th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.86 by $0.05. The firm had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. Colgate-Palmolive had a net margin of 14.52% and a return on equity of 461.04%. The business's quarterly revenue was down 3.0% compared to the same quarter last year. During the same period last year, the firm earned $0.86 EPS. On average, research analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

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

Colgate-Palmolive announced that its Board of Directors has authorized a share buyback plan on Thursday, March 20th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 6.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is 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.