Azzad Asset Management Inc. ADV Acquires Shares of 42,601 Colgate-Palmolive (NYSE:CL)

Azzad Asset Management Inc. ADV acquired a new stake in shares of Colgate-Palmolive (NYSE:CL - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 42,601 shares of the company's stock, valued at approximately $3,992,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. CVA Family Office LLC lifted its stake in shares of Colgate-Palmolive by 5.9% during the first quarter. CVA Family Office LLC now owns 3,219 shares of the company's stock valued at $302,000 after buying an additional 179 shares during the period. Elevation Point Wealth Partners LLC increased its position in Colgate-Palmolive by 8.3% during the first quarter. Elevation Point Wealth Partners LLC now owns 3,572 shares of the company's stock worth $335,000 after purchasing an additional 273 shares during the last quarter. Quintet Private Bank Europe S.A. increased its position in Colgate-Palmolive by 12.4% during the first quarter. Quintet Private Bank Europe S.A. now owns 6,139 shares of the company's stock worth $575,000 after purchasing an additional 675 shares during the last quarter. NorthCrest Asset Manangement LLC increased its position in Colgate-Palmolive by 65.8% during the first quarter. NorthCrest Asset Manangement LLC now owns 3,329 shares of the company's stock worth $312,000 after purchasing an additional 1,321 shares during the last quarter. Finally, Tobam increased its position in Colgate-Palmolive by 76.0% during the first quarter. Tobam now owns 5,165 shares of the company's stock worth $484,000 after purchasing an additional 2,230 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Stock Down 3.2%

CL traded down $2.94 during trading hours on Friday, reaching $90.20. 5,331,970 shares of the stock traded hands, compared to its average volume of 4,757,255. The firm's fifty day simple moving average is $91.75 and its two-hundred day simple moving average is $91.03. The company 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 has a fifty-two week low of $85.32 and a fifty-two week high of $109.30. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.05. The business had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.92 billion. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. The business's revenue was down 3.0% on a year-over-year basis. During the same period last year, the business earned $0.86 EPS. As a group, analysts forecast that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive declared that its board has approved a share buyback 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 often a sign that the company's board of directors believes its stock is undervalued.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive's payout ratio is 58.76%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Piper Sandler dropped their price target 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. Barclays dropped their price target on shares of Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. upped their price target on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. UBS Group upped their price target on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Finally, Citigroup upped their price target on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. One research 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's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average 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.