Fifth Third Bancorp Lowers Stock Holdings in Colgate-Palmolive (NYSE:CL)

Fifth Third Bancorp lessened its position in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 87,745 shares of the company's stock after selling 4,089 shares during the quarter. Fifth Third Bancorp's holdings in Colgate-Palmolive were worth $8,222,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in shares of Colgate-Palmolive by 4.4% in the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company's stock worth $962,000 after buying an additional 450 shares during the last quarter. Bernard Wealth Management Corp. purchased a new stake in shares of Colgate-Palmolive in the fourth quarter worth about $36,000. Ingalls & Snyder LLC boosted its stake in shares of Colgate-Palmolive by 1.2% in the fourth quarter. Ingalls & Snyder LLC now owns 23,557 shares of the company's stock worth $2,142,000 after buying an additional 282 shares during the last quarter. Avestar Capital LLC boosted its stake in shares of Colgate-Palmolive by 14.4% in the fourth quarter. Avestar Capital LLC now owns 5,142 shares of the company's stock worth $467,000 after buying an additional 649 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Colgate-Palmolive by 4.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 392,938 shares of the company's stock worth $36,076,000 after buying an additional 16,036 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CL shares. Barclays reduced their price target on Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. Citigroup upped 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. Wells Fargo & Company upped their price target on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a report on Wednesday, April 2nd. Piper Sandler reduced 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, JPMorgan Chase & Co. increased their target price on Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $102.12.

Colgate-Palmolive Price Performance

Shares of NYSE:CL traded down $2.94 during midday trading on Friday, hitting $90.20. The company had a trading volume of 5,331,970 shares, compared to its average volume of 4,757,255. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58. The stock has a market cap of $73.10 billion, a price-to-earnings ratio of 25.63, a price-to-earnings-growth ratio of 4.20 and a beta of 0.38. The business's 50-day simple moving average is $91.75 and its 200-day simple moving average is $91.03.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.86 by $0.05. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. The firm had revenue of $4.91 billion during the quarter, compared to analysts' expectations of $4.92 billion. During the same quarter last year, the firm earned $0.86 earnings per share. The business's revenue for the quarter was down 3.0% on a year-over-year basis. On average, research analysts predict that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be given 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 2.31%. Colgate-Palmolive's payout ratio is 58.76%.

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