Coho Partners Ltd. Has $5.11 Million Stock Holdings in Colgate-Palmolive Company (NYSE:CL)

Coho Partners Ltd. trimmed its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 38.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,537 shares of the company's stock after selling 34,584 shares during the quarter. Coho Partners Ltd.'s holdings in Colgate-Palmolive were worth $5,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Manning & Napier Advisors LLC raised its position in shares of Colgate-Palmolive by 88.3% during the first quarter. Manning & Napier Advisors LLC now owns 68,205 shares of the company's stock worth $6,391,000 after acquiring an additional 31,979 shares during the last quarter. Intact Investment Management Inc. raised its position in shares of Colgate-Palmolive by 26.2% during the first quarter. Intact Investment Management Inc. now owns 102,600 shares of the company's stock worth $9,614,000 after acquiring an additional 21,300 shares during the last quarter. Praxis Investment Management Inc. raised its position in shares of Colgate-Palmolive by 15.2% during the first quarter. Praxis Investment Management Inc. now owns 23,937 shares of the company's stock worth $2,243,000 after acquiring an additional 3,150 shares during the last quarter. GAM Holding AG bought a new position in shares of Colgate-Palmolive during the first quarter worth about $1,281,000. Finally, PFG Investments LLC raised its position in shares of Colgate-Palmolive by 1.1% during the first quarter. PFG Investments LLC now owns 22,154 shares of the company's stock worth $2,076,000 after acquiring an additional 235 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CL has been the subject of a number of analyst reports. UBS Group raised their price objective on Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. 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. JPMorgan Chase & Co. lifted their target price on Colgate-Palmolive from $95.00 to $103.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Citigroup lifted their target price on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a report on Monday, April 28th. Finally, Piper Sandler lowered their target price on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a report on Monday, March 31st. One 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 currently has a consensus rating of "Hold" and an average target price of $102.12.

Colgate-Palmolive Trading Down 0.4%

NYSE CL opened at $87.85 on Friday. The company has a market cap of $71.19 billion, a price-to-earnings ratio of 24.82, a P/E/G ratio of 4.66 and a beta of 0.38. 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 52 week low of $85.32 and a 52 week high of $109.30. The business has a 50 day moving average price of $91.50 and a 200-day moving average price of $90.78.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 461.04% and a net margin of 14.52%. Colgate-Palmolive's quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.86 earnings per share. As a group, equities analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.08 annualized dividend and a dividend yield of 2.37%. Colgate-Palmolive's payout ratio is 58.76%.

Colgate-Palmolive declared that its Board of Directors has initiated a stock buyback plan on Thursday, March 20th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

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.

Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive Company (NYSE:CL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.