Envestnet Portfolio Solutions Inc. Sells 5,014 Shares of Colgate-Palmolive Company (NYSE:CL)

Envestnet Portfolio Solutions Inc. trimmed its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 18.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,229 shares of the company's stock after selling 5,014 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Colgate-Palmolive were worth $2,083,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Colgate-Palmolive during the fourth quarter valued at approximately $912,375,000. Diamond Hill Capital Management Inc. acquired a new stake in Colgate-Palmolive in the 4th quarter valued at $348,718,000. AMF Tjanstepension AB increased its stake in Colgate-Palmolive by 1,088.8% during the 4th quarter. AMF Tjanstepension AB now owns 2,569,394 shares of the company's stock valued at $233,584,000 after purchasing an additional 2,353,268 shares in the last quarter. Deutsche Bank AG raised its holdings in Colgate-Palmolive by 35.6% during the fourth quarter. Deutsche Bank AG now owns 6,922,994 shares of the company's stock worth $629,369,000 after buying an additional 1,816,865 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Colgate-Palmolive in the fourth quarter valued at $132,405,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

NYSE CL opened at $87.85 on Monday. The company has a market capitalization of $71.19 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 4.66 and a beta of 0.38. 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 Company has a 52-week low of $85.32 and a 52-week high of $109.30. The company has a 50-day simple moving average of $91.50 and a 200 day simple moving average of $90.75.

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

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders 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 2.37%. Colgate-Palmolive's payout ratio is presently 58.76%.

Colgate-Palmolive declared that its Board of Directors has approved a share 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 often a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Barclays decreased 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 research report on Friday, April 11th. Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Piper Sandler dropped their target price on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. JPMorgan Chase & Co. lifted their target price on Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Finally, UBS Group increased their price target on Colgate-Palmolive from $105.00 to $109.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive currently has an average rating of "Hold" and an average price target of $102.12.

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.

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