Capital Asset Advisory Services LLC Raises Stock Holdings in Colgate-Palmolive (NYSE:CL)

Capital Asset Advisory Services LLC lifted its stake in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 60.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,518 shares of the company's stock after purchasing an additional 8,869 shares during the quarter. Capital Asset Advisory Services LLC's holdings in Colgate-Palmolive were worth $2,200,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CL. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at approximately $26,000. Centricity Wealth Management LLC bought a new position in shares of Colgate-Palmolive in the 4th quarter valued at $27,000. Vermillion Wealth Management Inc. acquired a new position in shares of Colgate-Palmolive during the 4th quarter worth $31,000. Union Bancaire Privee UBP SA bought a new stake in shares of Colgate-Palmolive during the 4th quarter worth $32,000. Finally, Briaud Financial Planning Inc acquired a new stake in Colgate-Palmolive in the fourth quarter valued at about $32,000. Institutional investors own 80.41% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. UBS Group lifted their price target on shares of 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 research note on Monday, March 31st. Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Barclays dropped their target price 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. Finally, Citigroup boosted their price target on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $102.12.

Colgate-Palmolive Stock Down 0.2%

CL traded down $0.16 during midday trading on Thursday, hitting $90.04. The company had a trading volume of 5,097,318 shares, compared to its average volume of 4,701,767. The stock's 50 day moving average price is $91.92 and its 200 day moving average price is $91.25. Colgate-Palmolive has a 52 week low of $85.32 and a 52 week high of $109.30. The company has a market capitalization of $72.97 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 4.20 and a beta of 0.39. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40.

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, beating analysts' consensus estimates of $0.86 by $0.05. The business had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.92 billion. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. The firm's revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.86 EPS. On average, research analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.31%. This is a positive change from Colgate-Palmolive's previous quarterly dividend of $0.50. The ex-dividend date was Thursday, April 17th. Colgate-Palmolive's dividend payout ratio (DPR) is 58.76%.

Colgate-Palmolive announced that its board has initiated a stock buyback program on Thursday, March 20th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to buy up to 6.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is 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.