Concord Asset Management LLC VA Reduces Holdings in Colgate-Palmolive Company (NYSE:CL)

Concord Asset Management LLC VA lowered its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 16.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,052 shares of the company's stock after selling 3,023 shares during the quarter. Concord Asset Management LLC VA's holdings in Colgate-Palmolive were worth $1,413,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Larson Financial Group LLC grew its stake in shares of Colgate-Palmolive by 50.7% during the first quarter. Larson Financial Group LLC now owns 1,498 shares of the company's stock worth $140,000 after purchasing an additional 504 shares in the last quarter. PAX Financial Group LLC acquired a new position in shares of Colgate-Palmolive during the first quarter worth $349,000. Wealthfront Advisers LLC grew its stake in shares of Colgate-Palmolive by 6.7% during the first quarter. Wealthfront Advisers LLC now owns 123,238 shares of the company's stock worth $11,547,000 after purchasing an additional 7,705 shares in the last quarter. Apollon Wealth Management LLC grew its stake in shares of Colgate-Palmolive by 17.0% during the first quarter. Apollon Wealth Management LLC now owns 29,616 shares of the company's stock worth $2,775,000 after purchasing an additional 4,299 shares in the last quarter. Finally, Sigma Planning Corp grew its stake in shares of Colgate-Palmolive by 14.1% during the first quarter. Sigma Planning Corp now owns 6,795 shares of the company's stock worth $637,000 after purchasing an additional 839 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Stock Performance

NYSE CL traded down $0.71 during trading hours on Tuesday, hitting $88.14. 3,788,223 shares of the stock were exchanged, compared to its average volume of 4,856,846. The company has a market cap of $71.43 billion, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 4.70 and a beta of 0.37. Colgate-Palmolive Company has a 12-month low of $85.32 and a 12-month high of $109.30. The stock has a 50-day moving average of $90.59 and a 200 day moving average of $90.47. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 8.96.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.05. The firm had revenue of $4.91 billion during the quarter, compared to analysts' expectations of $4.92 billion. Colgate-Palmolive had a net margin of 14.52% and a return on equity of 461.04%. The firm's revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.86 earnings per share. As a group, equities research analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive declared that its Board of Directors has authorized a share buyback program on Thursday, March 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to purchase up to 6.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Colgate-Palmolive Dividend Announcement

The business 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 $0.52 dividend. The ex-dividend date is Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a yield of 2.36%. Colgate-Palmolive's dividend payout ratio (DPR) is presently 58.76%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. Barclays upped their price objective on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a research note on Tuesday. Piper Sandler decreased 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. Wells Fargo & Company upped their price objective on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a research note on Wednesday, April 2nd. Finally, Wall Street Zen downgraded shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $101.20.

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.