Rhumbline Advisers Has $165.98 Million Stock Position in Colgate-Palmolive (NYSE:CL)

Rhumbline Advisers decreased its position in Colgate-Palmolive (NYSE:CL - Free Report) by 4.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,771,421 shares of the company's stock after selling 74,823 shares during the quarter. Rhumbline Advisers owned 0.22% of Colgate-Palmolive worth $165,982,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at $26,000. Centricity Wealth Management LLC acquired a new position in shares of Colgate-Palmolive during the fourth quarter worth about $27,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Colgate-Palmolive during the fourth quarter worth approximately $31,000. Union Bancaire Privee UBP SA acquired a new stake in Colgate-Palmolive in the fourth quarter valued at approximately $32,000. Finally, Briaud Financial Planning Inc purchased a new position in Colgate-Palmolive in the fourth quarter worth approximately $32,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

CL stock traded down $0.26 during trading on Thursday, reaching $89.94. 1,288,623 shares of the stock were exchanged, compared to its average volume of 5,281,867. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. The stock has a 50 day simple moving average of $91.92 and a 200-day simple moving average of $91.25. The company has a market capitalization of $72.89 billion, a P/E ratio of 25.55, a price-to-earnings-growth ratio of 4.20 and a beta of 0.39.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.05. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. The company had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. During the same quarter last year, the firm earned $0.86 EPS. The company's revenue for the quarter was down 3.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Colgate-Palmolive 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 repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th were issued a dividend of $0.52 per share. This is a positive change from Colgate-Palmolive's previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Thursday, April 17th. Colgate-Palmolive's dividend payout ratio is 58.76%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CL shares. Piper Sandler reduced their price objective on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. 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. Citigroup upped their target price on Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a research report on Monday, April 28th. JPMorgan Chase & Co. raised their price objective on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Finally, UBS Group upped their target price 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. 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $102.12.

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.