Central Bank & Trust Co. Makes New $270,000 Investment in Colgate-Palmolive (NYSE:CL)

Central Bank & Trust Co. purchased a new stake in shares of Colgate-Palmolive (NYSE:CL - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,886 shares of the company's stock, valued at approximately $270,000.

A number of other large investors have also recently made changes to their positions in the stock. Norges Bank purchased a new position in Colgate-Palmolive in the fourth quarter worth about $912,375,000. Diamond Hill Capital Management Inc. purchased a new position in Colgate-Palmolive in the fourth quarter worth about $348,718,000. AMF Tjanstepension AB boosted its position in Colgate-Palmolive by 1,088.8% in the fourth quarter. AMF Tjanstepension AB now owns 2,569,394 shares of the company's stock worth $233,584,000 after purchasing an additional 2,353,268 shares during the last quarter. Deutsche Bank AG boosted its position in Colgate-Palmolive by 35.6% in the fourth quarter. Deutsche Bank AG now owns 6,922,994 shares of the company's stock worth $629,369,000 after purchasing an additional 1,816,865 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Colgate-Palmolive during the 4th quarter valued at about $132,405,000. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Trading Up 0.0%

Shares of NYSE CL opened at $90.18 on Monday. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58. The stock has a market capitalization of $73.08 billion, a P/E ratio of 25.62, a price-to-earnings-growth ratio of 4.20 and a beta of 0.38. Colgate-Palmolive has a 1-year low of $85.32 and a 1-year high of $109.30. The business has a fifty day moving average price of $91.77 and a 200 day moving average price of $91.15.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $4.91 billion during the quarter, compared to analysts' expectations of $4.92 billion. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. The firm's quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 EPS. Equities research analysts expect that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive announced that its board has approved a share repurchase plan on Thursday, March 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to purchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th were paid a $0.52 dividend. The ex-dividend date was Thursday, April 17th. This is a boost from Colgate-Palmolive's previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 2.31%. Colgate-Palmolive's dividend payout ratio (DPR) is 58.76%.

Analysts Set New Price Targets

CL has been the topic of a number of analyst reports. Piper Sandler lowered their price objective on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a research report on Monday, March 31st. Wells Fargo & Company lifted their price objective 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. lifted their price objective on Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Barclays lowered their price objective on Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. Finally, UBS Group boosted their price target on Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Colgate-Palmolive currently has a consensus rating of "Hold" and an average price target of $102.12.

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.

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