Central Pacific Bank Trust Division Sells 15,506 Shares of Colgate-Palmolive (NYSE:CL)

Central Pacific Bank Trust Division lessened its holdings in Colgate-Palmolive (NYSE:CL - Free Report) by 83.3% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,109 shares of the company's stock after selling 15,506 shares during the period. Central Pacific Bank Trust Division's holdings in Colgate-Palmolive were worth $291,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Chicago Partners Investment Group LLC raised its stake in Colgate-Palmolive by 16.2% in the 4th quarter. Chicago Partners Investment Group LLC now owns 6,752 shares of the company's stock valued at $591,000 after acquiring an additional 943 shares during the period. Aviva PLC lifted its holdings in Colgate-Palmolive by 13.4% during the 4th quarter. Aviva PLC now owns 973,421 shares of the company's stock worth $88,494,000 after purchasing an additional 114,855 shares in the last quarter. Atlas Legacy Advisors LLC bought a new stake in shares of Colgate-Palmolive during the fourth quarter valued at about $311,000. SBI Securities Co. Ltd. bought a new position in shares of Colgate-Palmolive in the fourth quarter valued at approximately $304,000. Finally, Jupiter Asset Management Ltd. boosted 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 purchasing an additional 15,142 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Down 1.1%

Shares of NYSE CL traded down $1.05 during trading on Monday, reaching $91.89. The company had a trading volume of 3,152,480 shares, compared to its average volume of 4,692,410. Colgate-Palmolive has a 12-month low of $85.32 and a 12-month high of $109.30. The business's 50-day moving average is $92.02 and its 200 day moving average is $91.27. The stock has a market cap of $74.47 billion, a PE ratio of 26.11, a P/E/G ratio of 4.20 and a beta of 0.39. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40.

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

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 17th were given a dividend of $0.52 per share. This is an increase from Colgate-Palmolive's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.26%. Colgate-Palmolive's dividend payout ratio is 58.76%.

Colgate-Palmolive declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 20th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wall Street Zen cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Citigroup raised their price target on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Raymond James reaffirmed an "outperform" rating and issued a $105.00 target price (down from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. Stifel Nicolaus lowered their price objective on shares of Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating for the company in a research note on Monday, February 3rd. Finally, Wells Fargo & Company boosted their price target on Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock 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.