Chemung Canal Trust Co. Reduces Stock Position in Colgate-Palmolive Company (NYSE:CL)

Chemung Canal Trust Co. lessened its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 39.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,790 shares of the company's stock after selling 12,866 shares during the quarter. Chemung Canal Trust Co.'s holdings in Colgate-Palmolive were worth $1,854,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CL. Cornerstone Planning Group LLC increased its stake in shares of Colgate-Palmolive by 1,913.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock valued at $28,000 after purchasing an additional 287 shares in the last quarter. Flossbach Von Storch SE increased its stake in shares of Colgate-Palmolive by 3.2% in the 1st quarter. Flossbach Von Storch SE now owns 279,336 shares of the company's stock valued at $26,174,000 after purchasing an additional 8,741 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Colgate-Palmolive by 3.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,517,319 shares of the company's stock valued at $140,715,000 after purchasing an additional 50,314 shares in the last quarter. Personal CFO Solutions LLC purchased a new position in shares of Colgate-Palmolive in the 1st quarter valued at about $285,000. Finally, Valeo Financial Advisors LLC increased its stake in shares of Colgate-Palmolive by 4.1% in the 1st quarter. Valeo Financial Advisors LLC now owns 12,112 shares of the company's stock valued at $1,135,000 after purchasing an additional 474 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company's stock.

Analysts Set New Price Targets

CL has been the subject of several research reports. UBS Group boosted their price objective on Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Citigroup boosted their price objective on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. Piper Sandler cut their price objective on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. Wall Street Zen cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $101.69.

Colgate-Palmolive Stock Down 0.6%

Shares of Colgate-Palmolive stock traded down $0.56 during trading hours on Wednesday, reaching $91.58. 6,034,161 shares of the company were exchanged, compared to its average volume of 4,834,180. Colgate-Palmolive Company has a 1 year low of $85.32 and a 1 year high of $109.30. The stock's fifty day moving average is $90.66 and its 200 day moving average is $90.54. The company has a debt-to-equity ratio of 8.96, a quick ratio of 0.54 and a current ratio of 0.85. The firm has a market cap of $74.22 billion, a PE ratio of 25.87, a PEG ratio of 4.96 and a beta of 0.37.

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 for the quarter, topping analysts' consensus estimates of $0.86 by $0.05. The business 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 company's revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 earnings per share. As a group, equities research analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive announced that its Board of Directors has authorized a stock repurchase program on Thursday, March 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to buy up to 6.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.08 annualized dividend and a yield of 2.27%. Colgate-Palmolive's dividend payout ratio is presently 58.76%.

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.