Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 56,864 Shares of Colgate-Palmolive Company (NYSE:CL)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 46.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,008 shares of the company's stock after selling 56,864 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's holdings in Colgate-Palmolive were worth $6,197,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its stake 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 valued at $962,000 after purchasing an additional 450 shares in the last quarter. Bernard Wealth Management Corp. purchased a new stake in Colgate-Palmolive during the fourth quarter worth $36,000. Lake Street Advisors Group LLC boosted its position in Colgate-Palmolive by 4.4% during the 4th quarter. Lake Street Advisors Group LLC now owns 5,216 shares of the company's stock valued at $474,000 after acquiring an additional 221 shares in the last quarter. Bryn Mawr Capital Management LLC boosted its position in Colgate-Palmolive by 91.3% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 20,433 shares of the company's stock valued at $1,858,000 after acquiring an additional 9,751 shares in the last quarter. Finally, Checchi Capital Advisers LLC increased its holdings in shares of Colgate-Palmolive by 2.1% in the 4th quarter. Checchi Capital Advisers LLC now owns 7,893 shares of the company's stock valued at $718,000 after acquiring an additional 164 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $87.85 on Friday. The business has a fifty day moving average of $90.99 and a 200 day moving average of $90.64. Colgate-Palmolive Company has a 1 year low of $85.32 and a 1 year high of $109.30. The company has a debt-to-equity ratio of 8.96, a current ratio of 0.85 and a quick ratio of 0.54. The firm has a market capitalization of $71.19 billion, a price-to-earnings ratio of 24.82, a price-to-earnings-growth ratio of 4.66 and a beta of 0.38.

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

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

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive's dividend payout ratio (DPR) is currently 58.76%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Wall Street Zen cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. UBS Group boosted their target price on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Barclays lowered their price target on shares of Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. Piper Sandler cut their price objective 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, Wells Fargo & Company increased their target price on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a research report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average 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.

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