Envestnet Asset Management Inc. boosted its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 24.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 675,584 shares of the company's stock after acquiring an additional 133,327 shares during the period. Envestnet Asset Management Inc. owned about 0.08% of Colgate-Palmolive worth $63,302,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in CL. Westend Capital Management LLC grew its holdings in shares of Colgate-Palmolive by 111.1% in the first quarter. Westend Capital Management LLC now owns 266 shares of the company's stock valued at $25,000 after purchasing an additional 140 shares during the period. Vermillion Wealth Management Inc. purchased a new stake in shares of Colgate-Palmolive in the fourth quarter valued at about $31,000. Wintrust Investments LLC purchased a new stake in shares of Colgate-Palmolive in the fourth quarter valued at about $33,000. Bernard Wealth Management Corp. purchased a new stake in shares of Colgate-Palmolive in the fourth quarter valued at about $33,000. Finally, Accredited Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive in the fourth quarter valued at about $34,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on the stock. Barclays dropped their price objective 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. increased their target price on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. UBS Group increased their target price on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Wells Fargo & Company increased their target price on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 2nd. Finally, Wall Street Zen lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Colgate-Palmolive currently has an average rating of "Hold" and an average price target of $101.13.
Read Our Latest Stock Analysis on Colgate-Palmolive
Colgate-Palmolive Stock Down 1.1%
NYSE:CL traded down $1.02 during mid-day trading on Friday, hitting $89.60. The stock had a trading volume of 4,372,701 shares, compared to its average volume of 4,849,733. The stock has a 50-day simple moving average of $90.63 and a two-hundred day simple moving average of $90.52. The company has a market capitalization of $72.61 billion, a PE ratio of 25.31, a PEG ratio of 4.80 and a beta of 0.37. Colgate-Palmolive Company has a twelve month low of $85.32 and a twelve month high of $109.30. 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 (NYSE:CL - Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. The firm had revenue of $4.91 billion for the quarter, compared to analysts' expectations of $4.92 billion. Colgate-Palmolive had a net margin of 14.52% and a return on equity of 461.04%. The firm's revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 earnings per share. On average, equities research analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current year.
Colgate-Palmolive Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, July 18th. This represents a $2.08 annualized dividend and a dividend yield of 2.32%. Colgate-Palmolive's dividend payout ratio is currently 58.76%.
Colgate-Palmolive declared that its board has initiated a stock buyback program on Thursday, March 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to purchase up to 6.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its stock is undervalued.
Colgate-Palmolive Company Profile
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Free Report)
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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