Edgestream Partners L.P. Buys Shares of 19,789 Colgate-Palmolive Company (NYSE:CL)

Edgestream Partners L.P. acquired a new stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 19,789 shares of the company's stock, valued at approximately $1,854,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CL. Isthmus Partners LLC lifted its holdings in Colgate-Palmolive by 1.7% in the first quarter. Isthmus Partners LLC now owns 137,111 shares of the company's stock valued at $12,847,000 after acquiring an additional 2,354 shares during the period. LRI Investments LLC lifted its position in Colgate-Palmolive by 3.8% during the 1st quarter. LRI Investments LLC now owns 5,644 shares of the company's stock worth $529,000 after acquiring an additional 207 shares during the period. Secured Retirement Advisors LLC raised its holdings in Colgate-Palmolive by 564.3% during the first quarter. Secured Retirement Advisors LLC now owns 20,406 shares of the company's stock worth $1,912,000 after purchasing an additional 17,334 shares during the last quarter. Oxbow Advisors LLC increased its position in Colgate-Palmolive by 2.3% during the first quarter. Oxbow Advisors LLC now owns 30,328 shares of the company's stock worth $2,842,000 after buying an additional 691 shares in the last quarter. Finally, TruNorth Capital Management LLC grew its position in shares of Colgate-Palmolive by 341.4% in the first quarter. TruNorth Capital Management LLC now owns 3,090 shares of the company's stock valued at $290,000 after purchasing an additional 2,390 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on CL. Piper Sandler cut their price objective 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. JPMorgan Chase & Co. lifted their target price on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. UBS Group lowered their target price on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a report on Thursday. Wall Street Zen lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Finally, Citigroup upped their target price on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, Colgate-Palmolive has an average rating of "Hold" and an average target price of $101.00.

Colgate-Palmolive Stock Performance

CL stock opened at $87.28 on Friday. The firm has a market cap of $70.73 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 4.63 and a beta of 0.37. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 8.96. Colgate-Palmolive Company has a 1-year low of $85.32 and a 1-year high of $109.30. The stock has a 50-day moving average price of $90.40 and a 200-day moving average price of $90.41.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly 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. 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 during the quarter, compared to analyst estimates of $4.92 billion. During the same period in the prior year, the business posted $0.86 earnings per share. The company's revenue was down 3.0% on a year-over-year basis. As a group, equities research analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, July 18th. This represents a $2.08 annualized dividend and a yield of 2.38%. Colgate-Palmolive's payout ratio is 58.76%.

Colgate-Palmolive declared that its board has initiated a share buyback program on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

About Colgate-Palmolive

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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