Arizona State Retirement System Buys 9,364 Shares of Colgate-Palmolive Company (NYSE:CL)

Arizona State Retirement System raised its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 4.2% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 232,696 shares of the company's stock after purchasing an additional 9,364 shares during the period. Arizona State Retirement System's holdings in Colgate-Palmolive were worth $21,804,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CL. Brighton Jones LLC grew its holdings in Colgate-Palmolive by 4.4% during the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company's stock valued at $962,000 after purchasing an additional 450 shares during the period. Bernard Wealth Management Corp. bought a new stake in Colgate-Palmolive during the fourth quarter valued at about $36,000. Proficio Capital Partners LLC bought a new position in shares of Colgate-Palmolive in the fourth quarter worth about $186,000. Sequoia Financial Advisors LLC boosted its stake in shares of Colgate-Palmolive by 24.0% in the fourth quarter. Sequoia Financial Advisors LLC now owns 25,286 shares of the company's stock worth $2,299,000 after acquiring an additional 4,894 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Colgate-Palmolive by 31.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 4,866 shares of the company's stock worth $442,000 after acquiring an additional 1,177 shares during the period. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Trading Down 1.1%

Shares of CL stock opened at $89.60 on Friday. Colgate-Palmolive Company has a 1 year low of $85.32 and a 1 year high of $109.30. The company has a debt-to-equity ratio of 8.96, a current ratio of 0.85 and a quick ratio of 0.54. The stock's 50 day simple moving average is $90.63 and its two-hundred day simple moving average is $90.51. The company has a market cap of $72.61 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 4.74 and a beta of 0.37.

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

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

Colgate-Palmolive Dividend Announcement

The business 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 is Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a yield of 2.32%. Colgate-Palmolive's dividend payout ratio (DPR) is presently 58.76%.

Wall Street Analysts Forecast Growth

CL has been the subject of a number of recent analyst reports. UBS Group upped their price objective on Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Citigroup upped their price objective on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. Piper Sandler dropped their price objective on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. Finally, Wells Fargo & Company upped their price objective on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Colgate-Palmolive presently has a consensus rating of "Hold" and a consensus price target of $101.13.

Colgate-Palmolive 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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