Colgate-Palmolive (NYSE:CL) Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management trimmed its position in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 10.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,631 shares of the company's stock after selling 7,114 shares during the period. Ritholtz Wealth Management's holdings in Colgate-Palmolive were worth $5,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of Colgate-Palmolive by 4.4% in the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company's stock valued at $962,000 after acquiring an additional 450 shares during the last quarter. Bernard Wealth Management Corp. purchased a new stake in Colgate-Palmolive during the fourth quarter valued at approximately $36,000. Avestar Capital LLC boosted its holdings in shares of Colgate-Palmolive by 14.4% in the 4th quarter. Avestar Capital LLC now owns 5,142 shares of the company's stock worth $467,000 after purchasing an additional 649 shares during the period. Asset Management One Co. Ltd. increased its position in shares of Colgate-Palmolive by 4.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 392,938 shares of the company's stock valued at $36,076,000 after purchasing an additional 16,036 shares during the last quarter. Finally, AustralianSuper Pty Ltd raised its holdings in Colgate-Palmolive by 941.9% during the 4th quarter. AustralianSuper Pty Ltd now owns 1,138,655 shares of the company's stock valued at $103,515,000 after buying an additional 1,029,364 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Up 0.4%

CL traded up $0.34 on Monday, hitting $90.60. The company had a trading volume of 1,520,066 shares, compared to its average volume of 5,271,814. The stock has a market capitalization of $73.42 billion, a price-to-earnings ratio of 25.74, a P/E/G ratio of 4.20 and a beta of 0.38. The stock has a fifty day moving average price of $91.75 and a 200-day moving average price of $90.99. Colgate-Palmolive has a 12-month low of $85.32 and a 12-month high of $109.30. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92.

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

Colgate-Palmolive announced that its board has authorized a stock repurchase program on Thursday, March 20th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 6.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.30%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive's dividend payout ratio is presently 58.76%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Piper Sandler dropped their price objective on shares of 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 shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. upped their price target on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Barclays decreased their price objective on shares of Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. Finally, Citigroup increased 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 issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Colgate-Palmolive has an average rating of "Hold" and an average price target of $102.12.

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.