Cyndeo Wealth Partners LLC Sells 19,710 Shares of Colgate-Palmolive Company (NYSE:CL)

Cyndeo Wealth Partners LLC trimmed its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 61.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,241 shares of the company's stock after selling 19,710 shares during the quarter. Cyndeo Wealth Partners LLC's holdings in Colgate-Palmolive were worth $1,147,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of CL. Bank Pictet & Cie Europe AG bought a new stake in shares of Colgate-Palmolive in the first quarter valued at about $228,000. Optas LLC lifted its stake in Colgate-Palmolive by 10.0% in the 1st quarter. Optas LLC now owns 15,897 shares of the company's stock valued at $1,490,000 after acquiring an additional 1,439 shares in the last quarter. D Orazio & Associates Inc. lifted its stake in Colgate-Palmolive by 30.2% in the 1st quarter. D Orazio & Associates Inc. now owns 3,884 shares of the company's stock valued at $364,000 after acquiring an additional 902 shares in the last quarter. Brighton Jones LLC grew its stake in shares of Colgate-Palmolive by 2.1% during the 1st quarter. Brighton Jones LLC now owns 10,801 shares of the company's stock worth $1,012,000 after acquiring an additional 223 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in shares of Colgate-Palmolive by 49.3% during the 1st quarter. Exchange Traded Concepts LLC now owns 330,619 shares of the company's stock worth $30,979,000 after acquiring an additional 109,179 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Barclays reduced their target price on shares of Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. JPMorgan Chase & Co. raised 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. Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Citigroup increased their price target on Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a research report on Monday, April 28th. Finally, Piper Sandler lowered their price target on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a research report on Monday, March 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $102.12.

Colgate-Palmolive Stock Performance

Shares of CL stock traded down $0.22 during midday trading on Wednesday, hitting $88.42. 1,026,638 shares of the company were exchanged, compared to its average volume of 5,268,891. Colgate-Palmolive Company has a 52 week low of $85.32 and a 52 week high of $109.30. The firm has a market capitalization of $71.65 billion, a P/E ratio of 24.99, a PEG ratio of 4.79 and a beta of 0.38. The firm's 50 day moving average price is $91.75 and its two-hundred day moving average price is $90.93. 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 posted its 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. The company had revenue of $4.91 billion for 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 firm's revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 earnings per share. As a group, equities research analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive announced that its board has initiated a share buyback plan on Thursday, March 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to buy up to 6.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.35%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive's payout ratio is 58.76%.

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.