Fragasso Financial Advisors Inc Acquires New Stake in Colgate-Palmolive (NYSE:CL)

Fragasso Financial Advisors Inc acquired a new position in shares of Colgate-Palmolive (NYSE:CL - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 19,317 shares of the company's stock, valued at approximately $1,810,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. grew its stake in Colgate-Palmolive by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 81,303,059 shares of the company's stock worth $7,391,261,000 after buying an additional 588,230 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Colgate-Palmolive by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 20,518,014 shares of the company's stock worth $1,868,723,000 after buying an additional 324,683 shares during the period. Norges Bank purchased a new stake in shares of Colgate-Palmolive in the fourth quarter worth about $912,375,000. Northern Trust Corp boosted its holdings in Colgate-Palmolive by 11.7% in the fourth quarter. Northern Trust Corp now owns 9,497,819 shares of the company's stock valued at $863,447,000 after purchasing an additional 993,328 shares during the last quarter. Finally, Amundi raised its stake in Colgate-Palmolive by 12.8% during the fourth quarter. Amundi now owns 9,200,144 shares of the company's stock valued at $806,015,000 after buying an additional 1,040,604 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CL has been the topic of several analyst reports. Barclays lowered their target price on Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. UBS Group upped their target price on Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. 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 research report on Monday, March 31st. Finally, Wells Fargo & Company upped their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $102.12.

Colgate-Palmolive Trading Down 0.4%

CL traded down $0.32 during midday trading on Thursday, hitting $89.88. 1,497,465 shares of the company were exchanged, compared to its average volume of 4,689,347. The firm's 50 day moving average price is $91.92 and its 200-day moving average price is $91.25. Colgate-Palmolive has a 1-year low of $85.32 and a 1-year high of $109.30. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40. The firm has a market capitalization of $72.84 billion, a P/E ratio of 25.53, a P/E/G ratio of 4.20 and a beta of 0.39.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.86 by $0.05. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. The firm had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.92 billion. During the same period in the previous year, the company posted $0.86 EPS. The company's revenue for the quarter was down 3.0% on a year-over-year basis. As a group, equities analysts forecast that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive declared that its Board of Directors has authorized a share repurchase program on Thursday, March 20th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Thursday, April 17th. This is an increase from Colgate-Palmolive's previous quarterly dividend of $0.50. Colgate-Palmolive's payout ratio is presently 58.76%.

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.