Colgate-Palmolive Company (NYSE:CL) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 41.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,394,538 shares of the company's stock after selling 3,101,734 shares during the period. Massachusetts Financial Services Co. MA owned 0.54% of Colgate-Palmolive worth $411,768,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CL. Westend Capital Management LLC lifted its stake in Colgate-Palmolive by 111.1% during the first quarter. Westend Capital Management LLC now owns 266 shares of the company's stock worth $25,000 after purchasing an additional 140 shares in the last quarter. Cornerstone Planning Group LLC raised its stake in shares of Colgate-Palmolive by 1,913.3% in the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock valued at $28,000 after acquiring an additional 287 shares in the last quarter. Vermillion Wealth Management Inc. acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at $31,000. Accredited Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at $34,000. Finally, Bernard Wealth Management Corp. acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at $33,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

Shares of CL traded up $0.20 during mid-day trading on Friday, hitting $86.92. 2,941,791 shares of the company's stock were exchanged, compared to its average volume of 4,853,718. Colgate-Palmolive Company has a fifty-two week low of $85.32 and a fifty-two week high of $109.30. The firm has a market capitalization of $70.44 billion, a P/E ratio of 24.55, a P/E/G ratio of 4.63 and a beta of 0.37. The business's 50 day moving average is $90.40 and its two-hundred day moving average is $90.41. 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 (NYSE:CL - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05. The business had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.92 billion. Colgate-Palmolive had a net margin of 14.52% and a return on equity of 461.04%. The business's quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.86 earnings per share. On average, equities analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be given a $0.52 dividend. The ex-dividend date is Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a yield of 2.39%. Colgate-Palmolive's payout ratio is currently 58.76%.

Colgate-Palmolive announced that its Board of Directors has approved a share buyback plan on Thursday, March 20th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to reacquire up to 6.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

CL has been the topic of several analyst reports. Wells Fargo & Company increased their price objective on Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. increased their price objective on Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. UBS Group dropped their target price on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a report on Thursday. 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, Barclays increased their target price on Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $101.00.

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.