Conning Inc. Sells 10,456 Shares of Colgate-Palmolive Company (NYSE:CL)

Conning Inc. reduced its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 2.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 380,561 shares of the company's stock after selling 10,456 shares during the quarter. Colgate-Palmolive accounts for about 1.2% of Conning Inc.'s holdings, making the stock its 28th largest holding. Conning Inc.'s holdings in Colgate-Palmolive were worth $35,659,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Westend Capital Management LLC boosted its stake in shares of 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 purchasing an additional 140 shares in the last quarter. Vermillion Wealth Management Inc. purchased a new stake in Colgate-Palmolive during the fourth quarter valued at about $31,000. Briaud Financial Planning Inc bought a new position in shares of Colgate-Palmolive during the fourth quarter valued at about $32,000. Wintrust Investments LLC purchased a new position in shares of Colgate-Palmolive in the fourth quarter worth about $33,000. Finally, Bernard Wealth Management Corp. bought a new stake in shares of Colgate-Palmolive in the 4th quarter valued at about $33,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Up 0.6%

NYSE:CL traded up $0.60 on Monday, reaching $93.38. 5,794,090 shares of the stock traded hands, compared to its average volume of 4,816,411. 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 company has a market capitalization of $75.68 billion, a price-to-earnings ratio of 26.38, a PEG ratio of 4.93 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 company's fifty day simple moving average is $90.61 and its 200 day simple moving average is $90.52.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly 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 14.52% and a return on equity of 461.04%. The firm's quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.86 earnings per share. Equities analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive announced that its Board of Directors has approved a share repurchase program on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.08 annualized dividend and a yield of 2.23%. Colgate-Palmolive's dividend payout ratio (DPR) is presently 58.76%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CL shares. Citigroup lifted their price target on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. Wells Fargo & Company lifted their target price on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 2nd. Wall Street Zen downgraded shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. UBS Group lifted their target price on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Finally, Piper Sandler decreased their target price on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a research note on Monday, March 31st. One investment 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. According to MarketBeat, Colgate-Palmolive presently has a consensus rating of "Hold" and an average target price of $101.69.

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.