Colgate-Palmolive Company (NYSE:CL) Shares Acquired by Liberty One Investment Management LLC

Liberty One Investment Management LLC raised its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 7.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 59,508 shares of the company's stock after purchasing an additional 4,268 shares during the period. Liberty One Investment Management LLC's holdings in Colgate-Palmolive were worth $5,576,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CL. Brighton Jones LLC increased its position in Colgate-Palmolive by 4.4% during the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company's stock valued at $962,000 after purchasing an additional 450 shares during the period. Bernard Wealth Management Corp. purchased a new position in shares of Colgate-Palmolive in the 4th quarter worth approximately $36,000. Proficio Capital Partners LLC purchased a new position in shares of Colgate-Palmolive in the 4th quarter worth approximately $186,000. Assetmark Inc. grew its position in shares of Colgate-Palmolive by 295.1% in the 4th quarter. Assetmark Inc. now owns 16,280 shares of the company's stock worth $1,480,000 after buying an additional 12,160 shares during the last quarter. Finally, Callan Family Office LLC purchased a new position in shares of Colgate-Palmolive in the 4th quarter worth approximately $614,000. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Stock Performance

NYSE CL traded down $0.68 on Wednesday, hitting $91.46. 2,939,028 shares of the company's stock traded hands, compared to its average volume of 4,822,574. 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 firm's 50-day moving average price is $90.66 and its two-hundred day moving average price is $90.54. The firm has a market capitalization of $74.12 billion, a PE ratio of 25.77, a P/E/G ratio of 4.96 and a beta of 0.37.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings data 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 net margin of 14.52% and a return on equity of 461.04%. The business had revenue of $4.91 billion during the quarter, compared to analysts' expectations of $4.92 billion. During the same period in the previous year, the business posted $0.86 EPS. The business's quarterly revenue was down 3.0% compared to the same quarter last year. As a group, analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive declared that its board has approved a share buyback plan on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Colgate-Palmolive Dividend Announcement

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 2.27%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive's dividend payout ratio is currently 58.76%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CL. Wells Fargo & Company lifted their price objective on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 2nd. Barclays cut their price objective 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 lifted their price objective on shares of 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 shares of 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, Citigroup boosted their target price on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $101.69.

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.