Banque Pictet & Cie SA Purchases 48,597 Shares of Colgate-Palmolive Company (NYSE:CL)

Banque Pictet & Cie SA increased its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 26.7% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 230,437 shares of the company's stock after acquiring an additional 48,597 shares during the period. Banque Pictet & Cie SA's holdings in Colgate-Palmolive were worth $21,592,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in Colgate-Palmolive by 4.4% during the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company's stock worth $962,000 after purchasing an additional 450 shares during the last quarter. Bernard Wealth Management Corp. bought a new position in shares of Colgate-Palmolive during the fourth quarter valued at approximately $36,000. Proficio Capital Partners LLC acquired a new stake in shares of Colgate-Palmolive during the 4th quarter worth approximately $186,000. Assetmark Inc. lifted its holdings in shares of Colgate-Palmolive by 295.1% in the 4th quarter. Assetmark Inc. now owns 16,280 shares of the company's stock worth $1,480,000 after purchasing an additional 12,160 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its position in Colgate-Palmolive by 7.4% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 6,620 shares of the company's stock valued at $664,000 after purchasing an additional 458 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

CL stock traded down $1.02 on Friday, reaching $89.60. 4,372,701 shares of the company were exchanged, compared to its average volume of 4,845,231. 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 12 month low of $85.32 and a 12 month high of $109.30. The stock's fifty day moving average price is $90.64 and its 200 day moving average price is $90.54. The firm has a market capitalization of $72.61 billion, a PE ratio of 25.31, a PEG ratio of 4.85 and a beta of 0.37.

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

Colgate-Palmolive Dividend Announcement

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 $0.52 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a yield of 2.32%. Colgate-Palmolive's payout ratio is currently 58.76%.

Colgate-Palmolive declared that its board has approved a stock buyback program 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 programs are generally a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Citigroup increased their price objective on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a report on Monday, April 28th. Wells Fargo & Company lifted their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a report on Wednesday, April 2nd. Wall Street Zen lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Piper Sandler dropped their target price on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a research report on Monday, March 31st. Finally, Barclays decreased their price objective on 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. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $101.13.

About Colgate-Palmolive

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.