Financial Gravity Asset Management Inc. Takes $2.17 Million Position in Colgate-Palmolive Company (NYSE:CL)

Financial Gravity Asset Management Inc. bought a new stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 23,118 shares of the company's stock, valued at approximately $2,166,000.

Several other hedge funds have also bought and sold shares of the stock. Westend Capital Management LLC raised its stake in shares of Colgate-Palmolive by 111.1% during the first quarter. Westend Capital Management LLC now owns 266 shares of the company's stock worth $25,000 after acquiring an additional 140 shares in the last quarter. Cornerstone Planning Group LLC raised its stake in shares of Colgate-Palmolive by 1,913.3% during the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock worth $28,000 after acquiring an additional 287 shares in the last quarter. Vermillion Wealth Management Inc. purchased a new position in shares of Colgate-Palmolive during the fourth quarter worth approximately $31,000. Wintrust Investments LLC purchased a new position in shares of Colgate-Palmolive during the fourth quarter worth approximately $33,000. Finally, Bernard Wealth Management Corp. purchased a new position in shares of Colgate-Palmolive during the fourth quarter worth approximately $33,000. 80.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. UBS Group lifted their price target 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. Barclays decreased their target price on shares of Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. Wells Fargo & Company lifted 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. Citigroup lifted their target price on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. Finally, Wall Street Zen downgraded shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $101.13.

Colgate-Palmolive Trading Down 1.1%

NYSE:CL traded down $1.02 during trading hours on Friday, hitting $89.60. The company had a trading volume of 4,372,701 shares, compared to its average volume of 4,849,733. The company has a market capitalization of $72.61 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 4.80 and a beta of 0.37. The stock has a 50-day moving average price of $90.63 and a 200 day moving average price of $90.52. Colgate-Palmolive Company has a 52 week low of $85.32 and a 52 week high of $109.30. The company has a debt-to-equity ratio of 8.96, a current ratio of 0.85 and a quick ratio of 0.54.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly 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 business 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 for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.86 earnings per share. On average, equities research analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive announced that its Board of Directors has approved a share buyback plan on Thursday, March 20th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 6.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

Colgate-Palmolive Dividend Announcement

The business 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 $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.32%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive's dividend payout ratio (DPR) is currently 58.76%.

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.