Concurrent Investment Advisors LLC Grows Stake in Colgate-Palmolive Company (NYSE:CL)

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. World Investment Advisors lifted its holdings in shares of Colgate-Palmolive by 24.1% during the first quarter. World Investment Advisors now owns 11,769 shares of the company's stock worth $1,103,000 after purchasing an additional 2,282 shares during the period. Generali Investments CEE investicni spolecnost a.s. grew its position in shares of Colgate-Palmolive by 12.2% in the 1st quarter. Generali Investments CEE investicni spolecnost a.s. now owns 27,600 shares of the company's stock valued at $2,586,000 after buying an additional 3,000 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Colgate-Palmolive in the first quarter valued at about $69,000. Impax Asset Management Group plc raised its position in shares of Colgate-Palmolive by 1,105.0% during the first quarter. Impax Asset Management Group plc now owns 239,850 shares of the company's stock worth $22,474,000 after acquiring an additional 219,946 shares during the last quarter. Finally, Strategic Blueprint LLC lifted its stake in shares of Colgate-Palmolive by 2.6% in the first quarter. Strategic Blueprint LLC now owns 13,092 shares of the company's stock worth $1,227,000 after acquiring an additional 330 shares during the period. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Stock Down 0.3%

Shares of CL traded down $0.26 on Thursday, reaching $91.32. The company's stock had a trading volume of 1,940,479 shares, compared to its average volume of 4,828,848. Colgate-Palmolive Company has a twelve month low of $85.32 and a twelve month high of $109.30. The stock has a market capitalization of $74.01 billion, a PE ratio of 25.81, a PEG ratio of 4.89 and a beta of 0.37. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 8.96. The firm has a fifty day moving average of $90.65 and a 200-day moving average of $90.55.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $0.91 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 the consensus estimate of $4.92 billion. Colgate-Palmolive had a return on equity of 461.04% and a net margin of 14.52%. The company's quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 earnings per share. Equities analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive announced that its board has approved a stock buyback plan on Thursday, March 20th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to reacquire up to 6.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive's payout ratio is currently 58.76%.

Analysts Set New Price Targets

Several research analysts have issued reports on CL shares. JPMorgan Chase & Co. raised their price target on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Wall Street Zen cut shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Piper Sandler decreased 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. Wells Fargo & Company upped their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a research report on Wednesday, April 2nd. Finally, Barclays lowered their target price 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. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $101.69.

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.