Bank of New York Mellon Corp Sells 64,159 Shares of Colgate-Palmolive Company (NYSE:CL)

Bank of New York Mellon Corp lowered its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 1.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,991,048 shares of the company's stock after selling 64,159 shares during the period. Bank of New York Mellon Corp owned about 0.74% of Colgate-Palmolive worth $561,361,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Aviva PLC grew its holdings in shares of Colgate-Palmolive by 13.4% during the fourth quarter. Aviva PLC now owns 973,421 shares of the company's stock worth $88,494,000 after buying an additional 114,855 shares in the last quarter. Autumn Glory Partners LLC raised its holdings in Colgate-Palmolive by 67.4% in the 1st quarter. Autumn Glory Partners LLC now owns 8,905 shares of the company's stock valued at $851,000 after acquiring an additional 3,586 shares during the last quarter. Jupiter Asset Management Ltd. raised its holdings in Colgate-Palmolive by 2.3% in the 4th quarter. Jupiter Asset Management Ltd. now owns 685,718 shares of the company's stock valued at $62,339,000 after acquiring an additional 15,142 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of Colgate-Palmolive by 10.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 32,710 shares of the company's stock worth $2,974,000 after purchasing an additional 3,187 shares during the period. Finally, Capula Management Ltd purchased a new stake in shares of Colgate-Palmolive in the fourth quarter valued at $374,000. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Stock Performance

CL stock traded up $0.60 on Monday, reaching $93.38. The company's stock had a trading volume of 5,794,090 shares, compared to its average volume of 4,816,411. Colgate-Palmolive Company has a 52 week low of $85.32 and a 52 week 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 company has a market capitalization of $75.68 billion, a P/E ratio of 26.38, a price-to-earnings-growth ratio of 4.93 and a beta of 0.37. The firm has a fifty day moving average of $90.61 and a two-hundred day moving average of $90.52.

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 for the quarter, topping analysts' consensus estimates of $0.86 by $0.05. The company had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.92 billion. Colgate-Palmolive had a net margin of 14.52% and a return on equity of 461.04%. The business's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 EPS. As a group, analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

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

Colgate-Palmolive Announces Dividend

The firm 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 2.23%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive's dividend payout ratio is presently 58.76%.

Analyst Ratings Changes

Several analysts have commented on the company. UBS Group lifted their price target on Colgate-Palmolive from $105.00 to $109.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Wells Fargo & Company increased their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 2nd. Piper Sandler lowered their price target on 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 target price 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. Finally, Citigroup raised their target price on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average 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.