Allspring Global Investments Holdings LLC Sells 73,366 Shares of Colgate-Palmolive Company (NYSE:CL)

Allspring Global Investments Holdings LLC trimmed its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 10.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 663,638 shares of the company's stock after selling 73,366 shares during the period. Allspring Global Investments Holdings LLC owned about 0.08% of Colgate-Palmolive worth $62,316,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Colgate-Palmolive during the fourth quarter worth about $26,000. Vermillion Wealth Management Inc. acquired a new position in shares of Colgate-Palmolive during the fourth quarter worth about $31,000. Briaud Financial Planning Inc acquired a new position in shares of Colgate-Palmolive during the fourth quarter worth about $32,000. Wintrust Investments LLC acquired a new position in shares of Colgate-Palmolive during the fourth quarter worth about $33,000. Finally, Accredited Wealth Management LLC acquired a new position in shares of Colgate-Palmolive during the fourth quarter worth about $34,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Barclays reduced their price objective on Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. upped 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. Wells Fargo & Company upped 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. UBS Group upped their target price on Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Finally, Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive has an average rating of "Hold" and an average price target of $101.69.

Colgate-Palmolive Stock Performance

NYSE:CL traded up $0.32 on Wednesday, hitting $92.36. The company's stock had a trading volume of 5,342,183 shares, compared to its average volume of 4,799,870. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 8.96. The stock has a fifty day moving average of $90.68 and a two-hundred day moving average of $90.57. The firm has a market capitalization of $74.85 billion, a P/E ratio of 26.09, a price-to-earnings-growth ratio of 4.89 and a beta of 0.37. Colgate-Palmolive Company has a one year low of $85.32 and a one year high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. Colgate-Palmolive had a return on equity of 461.04% and a net margin of 14.52%. The business's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.86 earnings per share. Research analysts predict 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. Stockholders of record on Friday, July 18th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.25%. Colgate-Palmolive's dividend payout ratio (DPR) is currently 58.76%.

Colgate-Palmolive declared that its Board of Directors has authorized a share buyback program on Thursday, March 20th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 6.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

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.