Colgate-Palmolive Company (NYSE:CL) Position Raised by Golden State Equity Partners

Golden State Equity Partners raised its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 62.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 12,167 shares of the company's stock after buying an additional 4,676 shares during the quarter. Golden State Equity Partners' holdings in Colgate-Palmolive were worth $1,140,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Cornerstone Wealth Management LLC lifted its position in Colgate-Palmolive by 1.2% in the 1st quarter. Cornerstone Wealth Management LLC now owns 9,035 shares of the company's stock valued at $847,000 after purchasing an additional 110 shares during the last quarter. Axxcess Wealth Management LLC raised its holdings in shares of Colgate-Palmolive by 0.3% during the fourth quarter. Axxcess Wealth Management LLC now owns 38,786 shares of the company's stock valued at $3,526,000 after buying an additional 117 shares during the last quarter. Wescott Financial Advisory Group LLC raised its stake in Colgate-Palmolive by 3.5% during the 4th quarter. Wescott Financial Advisory Group LLC now owns 3,517 shares of the company's stock valued at $320,000 after acquiring an additional 119 shares in the last quarter. Aberdeen Wealth Management LLC raised its stake in Colgate-Palmolive by 0.6% during the 4th quarter. Aberdeen Wealth Management LLC now owns 20,651 shares of the company's stock valued at $1,877,000 after acquiring an additional 125 shares in the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO raised its stake in Colgate-Palmolive by 4.0% during the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 3,388 shares of the company's stock valued at $317,000 after acquiring an additional 130 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CL has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective 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. Wall Street Zen downgraded shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Piper Sandler dropped their price target on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a research report on Monday, March 31st. JPMorgan Chase & Co. boosted 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. Finally, Barclays dropped their target price on Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $101.69.

Colgate-Palmolive Stock Down 0.5%

Shares of Colgate-Palmolive stock opened at $88.23 on Wednesday. The stock's fifty day moving average is $91.26 and its 200-day moving average is $90.69. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 8.96. The firm has a market capitalization of $71.50 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 4.71 and a beta of 0.38. 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 posted its quarterly earnings data 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 return on equity of 461.04% and a net margin of 14.52%. The firm had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.92 billion. During the same quarter in the previous year, the company earned $0.86 EPS. The business's revenue for the quarter was down 3.0% compared to the same quarter last year. Equities analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

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

Colgate-Palmolive announced that its Board of Directors has initiated a stock repurchase plan on Thursday, March 20th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback plans are generally 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.

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