Colgate-Palmolive Company (NYSE:CL) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund trimmed its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 24.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,638 shares of the company's stock after selling 7,488 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Colgate-Palmolive were worth $2,215,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CL. Cornerstone Wealth Management LLC boosted its stake in Colgate-Palmolive by 1.2% during the first quarter. Cornerstone Wealth Management LLC now owns 9,035 shares of the company's stock valued at $847,000 after buying an additional 110 shares during the last quarter. Axxcess Wealth Management LLC raised its holdings in shares of Colgate-Palmolive by 0.3% during the 4th quarter. Axxcess Wealth Management LLC now owns 38,786 shares of the company's stock worth $3,526,000 after acquiring an additional 117 shares in the last quarter. Wescott Financial Advisory Group LLC boosted its position in shares of Colgate-Palmolive by 3.5% during the 4th quarter. Wescott Financial Advisory Group LLC now owns 3,517 shares of the company's stock valued at $320,000 after acquiring an additional 119 shares during the last quarter. Aberdeen Wealth Management LLC grew its holdings in shares of Colgate-Palmolive by 0.6% in the fourth quarter. Aberdeen Wealth Management LLC now owns 20,651 shares of the company's stock valued at $1,877,000 after purchasing an additional 125 shares in the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO increased its position in Colgate-Palmolive by 4.0% in the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 3,388 shares of the company's stock worth $317,000 after purchasing an additional 130 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Down 0.5%

Shares of Colgate-Palmolive stock traded down $0.44 during trading on Tuesday, reaching $88.23. The company's stock had a trading volume of 4,539,127 shares, compared to its average volume of 4,789,492. The company has a 50-day simple moving average of $91.38 and a two-hundred day simple moving average of $90.71. Colgate-Palmolive Company has a 1-year low of $85.32 and a 1-year high of $109.30. The company has a market cap of $71.50 billion, a price-to-earnings ratio of 24.92, a P/E/G ratio of 4.71 and a beta of 0.38. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 8.96.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.86 by $0.05. The business had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. Colgate-Palmolive had a net margin of 14.52% and a return on equity of 461.04%. Colgate-Palmolive's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.86 EPS. As a group, equities analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

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

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive's dividend payout ratio is currently 58.76%.

Analyst Ratings Changes

A number of brokerages have commented on CL. JPMorgan Chase & Co. lifted their price objective 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. Citigroup lifted their price target on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. UBS Group raised their price objective on Colgate-Palmolive from $105.00 to $109.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Piper Sandler decreased their price target 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, Barclays dropped their price objective on shares of Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, Colgate-Palmolive currently has an average rating of "Hold" and an average price target of $102.12.

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.