Stegent Equity Advisors Inc. Has $465,000 Stake in Colgate-Palmolive Company (NYSE:CL)

Stegent Equity Advisors Inc. cut its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 63.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,958 shares of the company's stock after selling 8,588 shares during the period. Stegent Equity Advisors Inc.'s holdings in Colgate-Palmolive were worth $465,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CL. Westend Capital Management LLC raised its holdings in shares of Colgate-Palmolive by 111.1% in the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company's stock worth $25,000 after buying an additional 140 shares in the last quarter. Cornerstone Planning Group LLC increased its holdings in Colgate-Palmolive by 1,913.3% during 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. Vermillion Wealth Management Inc. acquired a new stake in Colgate-Palmolive during the 4th quarter valued at $31,000. Wintrust Investments LLC acquired a new stake in Colgate-Palmolive during the 4th quarter valued at $33,000. Finally, Bernard Wealth Management Corp. acquired a new stake in Colgate-Palmolive during the 4th quarter valued at $33,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Trading Down 1.1%

Shares of NYSE:CL traded down $1.02 during midday trading on Friday, hitting $89.60. The company had a trading volume of 4,372,701 shares, compared to its average volume of 4,849,733. Colgate-Palmolive Company has a 12 month low of $85.32 and a 12 month 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 cap of $72.61 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 4.80 and a beta of 0.37. The firm has a fifty day simple moving average of $90.63 and a 200 day simple moving average of $90.52.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, topping 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 company's revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 earnings per share. On average, analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 2.32%. Colgate-Palmolive's dividend payout ratio is presently 58.76%.

Colgate-Palmolive declared that its board has authorized a stock buyback program on Thursday, March 20th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to purchase 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 stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CL. Citigroup raised their price target on Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a report on Monday, April 28th. JPMorgan Chase & Co. raised their price target on Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a report on Monday, April 28th. UBS Group raised their price target on Colgate-Palmolive from $105.00 to $109.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Piper Sandler dropped their price target on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a report on Monday, March 31st. Finally, Barclays decreased their price objective on Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, Colgate-Palmolive currently has a consensus rating of "Hold" and an average price target of $101.13.

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.