Intact Investment Management Inc. raised its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 26.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 102,600 shares of the company's stock after buying an additional 21,300 shares during the quarter. Intact Investment Management Inc.'s holdings in Colgate-Palmolive were worth $9,614,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new position in Colgate-Palmolive in the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC bought a new stake in Colgate-Palmolive during the 4th quarter valued at $27,000. Vermillion Wealth Management Inc. acquired a new position in Colgate-Palmolive during the 4th quarter worth $31,000. Union Bancaire Privee UBP SA bought a new position in shares of Colgate-Palmolive in the fourth quarter worth $32,000. Finally, Briaud Financial Planning Inc acquired a new position in shares of Colgate-Palmolive during the fourth quarter valued at $32,000. Institutional investors and hedge funds own 80.41% of the company's stock.
Analyst Ratings Changes
Several research firms recently weighed in on CL. Citigroup upped their price objective on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a report on Monday, April 28th. JPMorgan Chase & Co. upped their price target 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. Wells Fargo & Company increased their price objective on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a report on Wednesday, April 2nd. 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. Finally, 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. 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 company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $102.12.
Read Our Latest Stock Report on Colgate-Palmolive
Colgate-Palmolive Stock Up 1.0%
NYSE CL traded up $0.91 on Monday, reaching $88.69. The stock had a trading volume of 5,095,403 shares, compared to its average volume of 4,789,042. 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 Company has a 1 year low of $85.32 and a 1 year high of $109.30. The business has a 50 day moving average price of $91.50 and a 200 day moving average price of $90.75. The company has a market capitalization of $71.88 billion, a price-to-earnings ratio of 25.05, a P/E/G ratio of 4.66 and a beta of 0.38.
Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.86 by $0.05. Colgate-Palmolive had a return on equity of 461.04% and a net margin of 14.52%. The business had revenue of $4.91 billion during the quarter, compared to analysts' expectations of $4.92 billion. During the same quarter in the previous year, the business posted $0.86 EPS. The firm's quarterly revenue was down 3.0% compared to the same quarter last year. On average, analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.
Colgate-Palmolive Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.08 annualized dividend and a yield of 2.35%. Colgate-Palmolive's dividend payout ratio (DPR) is currently 58.76%.
Colgate-Palmolive announced that its board has initiated a share buyback plan on Thursday, March 20th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to purchase up to 6.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.
Colgate-Palmolive 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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