Leo Wealth LLC Sells 4,145 Shares of Colgate-Palmolive Company (NYSE:CL)

Leo Wealth LLC decreased its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 30.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,313 shares of the company's stock after selling 4,145 shares during the quarter. Leo Wealth LLC's holdings in Colgate-Palmolive were worth $873,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CL. Brighton Jones LLC increased its position in shares of Colgate-Palmolive by 4.4% during the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company's stock worth $962,000 after purchasing an additional 450 shares in the last quarter. Bernard Wealth Management Corp. acquired a new position in Colgate-Palmolive during the fourth quarter worth $36,000. Proficio Capital Partners LLC acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at $186,000. Choate Investment Advisors lifted its stake in shares of Colgate-Palmolive by 4.0% in the 4th quarter. Choate Investment Advisors now owns 9,007 shares of the company's stock valued at $819,000 after purchasing an additional 350 shares during the last quarter. Finally, one8zero8 LLC acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at $300,000. Institutional investors and hedge funds own 80.41% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CL. Wells Fargo & Company increased their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 2nd. Wall Street Zen downgraded Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. upped their price objective on Colgate-Palmolive from $95.00 to $103.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Barclays lifted their price objective on Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a report on Tuesday. Finally, UBS Group dropped their price target on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Colgate-Palmolive presently has an average rating of "Hold" and a consensus target price of $101.00.

Colgate-Palmolive Price Performance

NYSE:CL traded down $0.40 during mid-day trading on Thursday, reaching $87.26. The stock had a trading volume of 1,472,214 shares, compared to its average volume of 4,849,292. The stock has a 50-day simple moving average of $90.47 and a two-hundred day simple moving average of $90.44. The stock has a market capitalization of $70.72 billion, a PE ratio of 24.62, a P/E/G ratio of 4.67 and a beta of 0.37. 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 Company has a 12 month low of $85.32 and a 12 month high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.86 by $0.05. The company 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 was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 earnings per share. On average, equities analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive's payout ratio is 58.76%.

Colgate-Palmolive declared that its Board of Directors has approved a share buyback program on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors 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.