GAMMA Investing LLC Increases Stock Position in Colgate-Palmolive (NYSE:CL)

GAMMA Investing LLC lifted its position in Colgate-Palmolive (NYSE:CL - Free Report) by 10,601.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,105,379 shares of the company's stock after buying an additional 1,095,050 shares during the quarter. GAMMA Investing LLC owned about 0.14% of Colgate-Palmolive worth $103,574,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new position in Colgate-Palmolive during the fourth quarter worth about $26,000. Centricity Wealth Management LLC bought a new position in shares of Colgate-Palmolive in the fourth quarter worth about $27,000. Vermillion Wealth Management Inc. acquired a new stake in Colgate-Palmolive in the fourth quarter valued at approximately $31,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Colgate-Palmolive during the 4th quarter valued at $32,000. Finally, Briaud Financial Planning Inc bought a new position in Colgate-Palmolive in the 4th quarter valued at approximately $32,000. Institutional investors own 80.41% of the company's stock.

Wall Street Analysts Forecast Growth

CL has been the topic of a number of recent analyst reports. Citigroup boosted their price objective on Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a research note on Monday, April 28th. Piper Sandler cut their price target on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. Barclays dropped 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 report on Friday, April 11th. UBS Group increased their price target on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Finally, Wells Fargo & Company increased their price target on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $102.12.

Colgate-Palmolive Price Performance

CL traded down $0.16 on Thursday, hitting $90.04. 5,123,484 shares of the company's stock were exchanged, compared to its average volume of 4,710,096. Colgate-Palmolive has a fifty-two week low of $85.32 and a fifty-two week high of $109.30. The stock has a market cap of $72.97 billion, a price-to-earnings ratio of 25.58, a P/E/G ratio of 4.20 and a beta of 0.39. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. The firm has a 50-day moving average price of $91.84 and a 200-day moving average price of $91.21.

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

Colgate-Palmolive Increases Dividend

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

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

Colgate-Palmolive Company 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.