Colgate-Palmolive Company (NYSE:CL) is CoreFirst Bank & Trust's Largest Position

CoreFirst Bank & Trust decreased its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 3.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 122,138 shares of the company's stock after selling 4,107 shares during the quarter. Colgate-Palmolive comprises about 7.4% of CoreFirst Bank & Trust's investment portfolio, making the stock its largest position. CoreFirst Bank & Trust's holdings in Colgate-Palmolive were worth $11,444,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Westend Capital Management LLC increased its position in Colgate-Palmolive by 111.1% during the first quarter. Westend Capital Management LLC now owns 266 shares of the company's stock valued at $25,000 after acquiring an additional 140 shares during the last quarter. Vermillion Wealth Management Inc. bought a new position in Colgate-Palmolive during the fourth quarter valued at $31,000. Briaud Financial Planning Inc bought a new position in Colgate-Palmolive during the fourth quarter valued at $32,000. Wintrust Investments LLC bought a new position in Colgate-Palmolive during the fourth quarter valued at $33,000. Finally, Bernard Wealth Management Corp. bought a new position in Colgate-Palmolive during the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 80.41% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. upped 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. Piper Sandler cut their price target on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. Barclays cut their price target on shares of Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. Wells Fargo & Company upped their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a report on Wednesday, April 2nd. Finally, Wall Street Zen cut shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Colgate-Palmolive presently has an average rating of "Hold" and a consensus price target of $101.69.

Colgate-Palmolive Stock Up 0.6%

Shares of CL stock traded up $0.60 during trading hours on Monday, reaching $93.38. 5,794,090 shares of the company's stock were exchanged, 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 cap of $75.68 billion, a price-to-earnings ratio of 26.38, a P/E/G ratio of 4.93 and a beta of 0.37. Colgate-Palmolive Company has a fifty-two week low of $85.32 and a fifty-two week high of $109.30. The stock's 50 day moving average is $90.61 and its 200-day moving average is $90.52.

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, beating the consensus estimate of $0.86 by $0.05. The company had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. Colgate-Palmolive had a return on equity of 461.04% and a net margin of 14.52%. The firm's quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.86 EPS. Analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business 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. This represents a $2.08 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive's payout ratio is currently 58.76%.

Colgate-Palmolive declared that its Board of Directors has approved a stock buyback plan 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 shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

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.