Bridgewater Advisors Inc. Sells 3,290 Shares of Colgate-Palmolive Company (NYSE:CL)

Bridgewater Advisors Inc. lessened its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 5.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 53,700 shares of the company's stock after selling 3,290 shares during the quarter. Bridgewater Advisors Inc.'s holdings in Colgate-Palmolive were worth $4,958,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kornitzer Capital Management Inc. KS lifted its holdings in shares of Colgate-Palmolive by 1.1% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 110,880 shares of the company's stock worth $10,389,000 after purchasing an additional 1,190 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Colgate-Palmolive by 50.7% in the 1st quarter. Larson Financial Group LLC now owns 1,498 shares of the company's stock worth $140,000 after purchasing an additional 504 shares in the last quarter. PAX Financial Group LLC bought a new position in shares of Colgate-Palmolive in the 1st quarter worth $349,000. Wealthfront Advisers LLC lifted its holdings in shares of Colgate-Palmolive by 6.7% in the 1st quarter. Wealthfront Advisers LLC now owns 123,238 shares of the company's stock worth $11,547,000 after purchasing an additional 7,705 shares in the last quarter. Finally, Apollon Wealth Management LLC lifted its stake in Colgate-Palmolive by 17.0% during the 1st quarter. Apollon Wealth Management LLC now owns 29,616 shares of the company's stock valued at $2,775,000 after acquiring an additional 4,299 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Stock Down 0.8%

Shares of NYSE:CL traded down $0.71 during midday trading on Tuesday, reaching $88.14. The company's stock had a trading volume of 3,788,223 shares, compared to its average volume of 4,856,846. The firm has a 50 day moving average of $90.59 and a 200-day moving average of $90.47. The firm has a market capitalization of $71.43 billion, a P/E ratio of 24.90, a PEG ratio of 4.70 and a beta of 0.37. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 8.96. Colgate-Palmolive Company has a 12-month low of $85.32 and a 12-month high of $109.30.

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

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.36%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive's dividend payout ratio is 58.76%.

Colgate-Palmolive declared that its board has approved a share repurchase plan on Thursday, March 20th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits 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 believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Citigroup raised their price objective on Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a research note on Monday, April 28th. Wells Fargo & Company raised their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. raised their target price on Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. UBS Group raised their target price on Colgate-Palmolive from $105.00 to $109.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Finally, Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. One investment 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's stock. According to data from MarketBeat.com, Colgate-Palmolive currently has an average rating of "Hold" and a consensus target price of $101.20.

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.