Bar Harbor Wealth Management Decreases Position in Colgate-Palmolive (NYSE:CL)

Bar Harbor Wealth Management decreased its stake in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 128,804 shares of the company's stock after selling 2,888 shares during the quarter. Bar Harbor Wealth Management's holdings in Colgate-Palmolive were worth $12,069,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CL. Vanguard Group Inc. lifted its position in Colgate-Palmolive by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 81,303,059 shares of the company's stock valued at $7,391,261,000 after purchasing an additional 588,230 shares during the last quarter. Geode Capital Management LLC lifted its position in Colgate-Palmolive by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 20,518,014 shares of the company's stock valued at $1,868,723,000 after purchasing an additional 324,683 shares during the last quarter. Norges Bank purchased a new stake in shares of Colgate-Palmolive in the fourth quarter valued at $912,375,000. Northern Trust Corp raised its stake in shares of Colgate-Palmolive by 11.7% in the fourth quarter. Northern Trust Corp now owns 9,497,819 shares of the company's stock valued at $863,447,000 after acquiring an additional 993,328 shares during the period. Finally, Amundi raised its stake in shares of Colgate-Palmolive by 12.8% in the fourth quarter. Amundi now owns 9,200,144 shares of the company's stock valued at $806,015,000 after acquiring an additional 1,040,604 shares during the period. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Stock Down 3.2%

Colgate-Palmolive stock traded down $2.94 during midday trading on Friday, hitting $90.20. 5,331,970 shares of the company's stock were exchanged, compared to its average volume of 4,749,113. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92. Colgate-Palmolive has a 12 month low of $85.32 and a 12 month high of $109.30. The firm has a 50-day moving average of $91.71 and a two-hundred day moving average of $91.12. The company has a market cap of $73.10 billion, a PE ratio of 25.63, a P/E/G ratio of 4.20 and a beta of 0.38.

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

Colgate-Palmolive declared that its Board of Directors has initiated a stock buyback program on Thursday, March 20th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 6.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders 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 yield of 2.31%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive's payout ratio is 58.76%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CL shares. Citigroup increased 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. Piper Sandler reduced 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 note on Monday, March 31st. UBS Group increased their target price on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Wells Fargo & Company increased their target price on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a research note on Wednesday, April 2nd. Finally, Barclays reduced their target price on shares of Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. 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 data from MarketBeat, Colgate-Palmolive presently has a consensus rating of "Hold" and a consensus 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.