Cypress Asset Management Inc. TX Invests $2.92 Million in Colgate-Palmolive (NYSE:CL)

Cypress Asset Management Inc. TX acquired a new position in shares of Colgate-Palmolive (NYSE:CL - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 31,993 shares of the company's stock, valued at approximately $2,918,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC boosted its stake in shares of Colgate-Palmolive by 0.3% during the fourth quarter. Axxcess Wealth Management LLC now owns 38,786 shares of the company's stock valued at $3,526,000 after purchasing an additional 117 shares in the last quarter. Commonwealth Financial Services LLC boosted its stake in shares of Colgate-Palmolive by 4.5% during the fourth quarter. Commonwealth Financial Services LLC now owns 2,716 shares of the company's stock valued at $247,000 after purchasing an additional 118 shares in the last quarter. Wescott Financial Advisory Group LLC boosted its stake in shares of Colgate-Palmolive by 3.5% during the fourth quarter. Wescott Financial Advisory Group LLC now owns 3,517 shares of the company's stock valued at $320,000 after purchasing an additional 119 shares in the last quarter. D Orazio & Associates Inc. boosted its stake in shares of Colgate-Palmolive by 4.2% during the fourth quarter. D Orazio & Associates Inc. now owns 2,982 shares of the company's stock valued at $271,000 after purchasing an additional 120 shares in the last quarter. Finally, Lantz Financial LLC boosted its stake in shares of Colgate-Palmolive by 0.6% during the fourth quarter. Lantz Financial LLC now owns 20,140 shares of the company's stock valued at $1,831,000 after purchasing an additional 122 shares in the last quarter. 80.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Citigroup increased their target price on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a research report on Monday, April 28th. JPMorgan Chase & Co. increased their target price on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Morgan Stanley decreased their target price on shares of Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Stifel Nicolaus decreased their target price on shares of Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating for the company in a research report on Monday, February 3rd. Finally, Piper Sandler decreased their target price on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. One investment 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's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $102.12.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL traded up $0.49 during midday trading on Thursday, reaching $92.25. The company's stock had a trading volume of 4,718,556 shares, compared to its average volume of 4,687,451. The firm has a market capitalization of $74.76 billion, a PE ratio of 26.21, a P/E/G ratio of 4.20 and a beta of 0.39. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30. The stock has a fifty day moving average of $91.93 and a 200 day moving average of $91.26. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.05. The firm had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. The business's quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.86 earnings per share. On average, equities analysts expect that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 17th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Thursday, April 17th. This is a positive change from Colgate-Palmolive's previous quarterly dividend of $0.50. Colgate-Palmolive's dividend payout ratio (DPR) is currently 58.76%.

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

Colgate-Palmolive 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.