Alpine Bank Wealth Management Buys Shares of 84,371 Colgate-Palmolive Company (NYSE:CL)

Alpine Bank Wealth Management bought a new stake in Colgate-Palmolive Company (NYSE:CL - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 84,371 shares of the company's stock, valued at approximately $7,906,000. Colgate-Palmolive accounts for about 1.3% of Alpine Bank Wealth Management's portfolio, making the stock its 13th largest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Kohmann Bosshard Financial Services LLC purchased a new position in Colgate-Palmolive in the 4th quarter valued at about $26,000. Vermillion Wealth Management Inc. acquired a new position in shares of Colgate-Palmolive in the fourth quarter worth about $31,000. Union Bancaire Privee UBP SA purchased a new position in Colgate-Palmolive in the fourth quarter valued at about $32,000. Briaud Financial Planning Inc acquired a new stake in Colgate-Palmolive during the 4th quarter valued at approximately $32,000. Finally, Wintrust Investments LLC acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Stock Performance

Shares of CL traded up $0.05 during trading hours on Thursday, reaching $87.85. 5,813,551 shares of the company's stock traded hands, compared to its average volume of 4,787,750. The business's fifty day simple moving average is $91.14 and its two-hundred day simple moving average is $90.67. The firm has a market capitalization of $71.19 billion, a price-to-earnings ratio of 24.82, a P/E/G ratio of 4.66 and a beta of 0.38. The company has a debt-to-equity ratio of 8.96, a current ratio of 0.85 and a quick ratio of 0.54. Colgate-Palmolive Company has a twelve month low of $85.32 and a twelve month high of $109.30.

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

Colgate-Palmolive announced that its board has initiated a stock buyback program on Thursday, March 20th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 6.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its shares are undervalued.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive's dividend payout ratio is 58.76%.

Wall Street Analyst Weigh In

A number of research firms have commented on CL. JPMorgan Chase & Co. increased their price objective on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. Barclays decreased their price target on 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. Wells Fargo & Company upped their price objective on Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a research note on Wednesday, April 2nd. Citigroup lifted 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, Wall Street Zen cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $101.69.

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.