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

Chemung Canal Trust Co. trimmed its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 39.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of CL. Aviva PLC lifted its stake in Colgate-Palmolive by 13.4% during the fourth quarter. Aviva PLC now owns 973,421 shares of the company's stock valued at $88,494,000 after buying an additional 114,855 shares in the last quarter. Autumn Glory Partners LLC increased its holdings in shares of Colgate-Palmolive by 67.4% in the 1st quarter. Autumn Glory Partners LLC now owns 8,905 shares of the company's stock valued at $851,000 after purchasing an additional 3,586 shares during the period. Jupiter Asset Management Ltd. increased its holdings in shares of 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. Summit Investment Advisors Inc. increased its holdings in shares of Colgate-Palmolive by 10.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 32,710 shares of the company's stock valued at $2,974,000 after purchasing an additional 3,187 shares during the period. Finally, Capula Management Ltd acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at about $374,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CL. Wall Street Zen downgraded Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. UBS Group increased their price objective on Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Barclays dropped their price objective 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. Wells Fargo & Company increased their price objective on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. increased their price objective on Colgate-Palmolive from $95.00 to $103.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $101.69.

Colgate-Palmolive Stock Down 1.2%

CL opened at $92.18 on Wednesday. Colgate-Palmolive Company has a 1-year low of $85.32 and a 1-year high of $109.30. 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 market capitalization of $74.70 billion, a price-to-earnings ratio of 26.04, a P/E/G ratio of 4.96 and a beta of 0.37. The business has a 50 day moving average of $90.66 and a 200-day moving average of $90.54.

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, topping the consensus estimate of $0.86 by $0.05. The firm had revenue of $4.91 billion during 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% compared to the same quarter last year. During the same period last year, the business earned $0.86 earnings per share. As a group, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

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 issued a dividend of $0.52 per share. The ex-dividend date is Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.26%. Colgate-Palmolive's payout ratio is presently 58.76%.

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

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