Cushing Capital Partners LLC Buys New Shares in Colgate-Palmolive Company (NYSE:CL)

Cushing Capital Partners LLC purchased a new position in Colgate-Palmolive Company (NYSE:CL - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 10,300 shares of the company's stock, valued at approximately $965,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Colgate-Palmolive in the fourth quarter valued at $26,000. Centricity Wealth Management LLC bought a new stake in Colgate-Palmolive in the 4th quarter valued at $27,000. Vermillion Wealth Management Inc. acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at $31,000. Union Bancaire Privee UBP SA bought a new position in shares of Colgate-Palmolive during the 4th quarter worth about $32,000. Finally, Briaud Financial Planning Inc acquired a new stake in shares of Colgate-Palmolive during the 4th quarter valued at about $32,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Trading Down 1.6%

CL opened at $88.66 on Wednesday. Colgate-Palmolive Company has a 1-year low of $85.32 and a 1-year high of $109.30. The stock has a market capitalization of $71.85 billion, a PE ratio of 25.04, a PEG ratio of 4.79 and a beta of 0.38. 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 50-day moving average price of $91.75 and a two-hundred day moving average price of $90.93.

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

Colgate-Palmolive declared that its Board of Directors has initiated a stock repurchase plan on Thursday, March 20th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be paid a $0.52 dividend. The ex-dividend date is Friday, July 18th. This represents a $2.08 annualized dividend and a dividend yield of 2.35%. Colgate-Palmolive's dividend payout ratio (DPR) is currently 58.76%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Piper Sandler cut their target price on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. Wells Fargo & Company upped their price target 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 cut their price objective 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 investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Colgate-Palmolive presently has a consensus rating of "Hold" and a consensus price target of $102.12.

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.

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