Concurrent Investment Advisors LLC Has $2.10 Million Holdings in Colgate-Palmolive Company (NYSE:CL)

Concurrent Investment Advisors LLC grew its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 98.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,408 shares of the company's stock after acquiring an additional 11,131 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Colgate-Palmolive were worth $2,100,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Westend Capital Management LLC raised its position in Colgate-Palmolive by 111.1% in the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company's stock valued at $25,000 after buying an additional 140 shares during the last quarter. Vermillion Wealth Management Inc. acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at approximately $31,000. Briaud Financial Planning Inc acquired a new position in Colgate-Palmolive during the fourth quarter worth $32,000. Wintrust Investments LLC acquired a new stake in Colgate-Palmolive in the 4th quarter valued at $33,000. Finally, Bernard Wealth Management Corp. acquired a new stake in Colgate-Palmolive in the 4th quarter valued at $33,000. Institutional investors own 80.41% of the company's stock.

Analyst Upgrades and Downgrades

CL has been the subject of several analyst reports. Piper Sandler decreased their price objective on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a report on Monday, March 31st. JPMorgan Chase & Co. increased their price objective on Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Wells Fargo & Company raised their target price 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. Citigroup upped their price target on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Finally, 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 report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $101.69.

Colgate-Palmolive Stock Performance

Shares of CL stock traded down $0.56 on Wednesday, hitting $91.58. The company's stock had a trading volume of 6,034,161 shares, compared to its average volume of 4,839,953. Colgate-Palmolive Company has a fifty-two week low of $85.32 and a fifty-two week high of $109.30. The company has a market capitalization of $74.22 billion, a PE ratio of 25.87, a PEG ratio of 4.89 and a beta of 0.37. The stock's 50 day moving average is $90.66 and its 200-day moving average is $90.54. The company has a debt-to-equity ratio of 8.96, a quick ratio of 0.54 and a current ratio of 0.85.

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

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.27%. Colgate-Palmolive's payout ratio is 58.76%.

Colgate-Palmolive announced that its board has authorized a stock buyback program on Thursday, March 20th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to buy up to 6.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

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.