Mattson Financial Services LLC Takes Position in Colgate-Palmolive (NYSE:CL)

Mattson Financial Services LLC bought a new stake in Colgate-Palmolive (NYSE:CL - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,900 shares of the company's stock, valued at approximately $264,000.

Several other large investors also recently added to or reduced their stakes in CL. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Colgate-Palmolive during the 4th quarter worth $26,000. Centricity Wealth Management LLC acquired a new position in Colgate-Palmolive during the 4th quarter worth about $27,000. Vermillion Wealth Management Inc. acquired a new position in Colgate-Palmolive during the 4th quarter worth about $31,000. Union Bancaire Privee UBP SA acquired a new position in Colgate-Palmolive during the 4th quarter worth about $32,000. Finally, Briaud Financial Planning Inc acquired a new position in Colgate-Palmolive during the 4th quarter worth about $32,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CL has been the topic of several research reports. Morgan Stanley decreased their target price on Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Barclays decreased their target price on Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. Citigroup increased their price target on Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a research report on Monday, April 28th. UBS Group increased their price target on Colgate-Palmolive from $105.00 to $109.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Finally, Piper Sandler reduced their price target on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a research report on Monday, March 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, Colgate-Palmolive has an average rating of "Hold" and a consensus price target of $102.12.

Colgate-Palmolive Stock Performance

NYSE:CL traded up $0.72 during mid-day trading on Friday, reaching $93.02. 6,317,272 shares of the stock were exchanged, compared to its average volume of 4,706,535. The company has a 50 day simple moving average of $92.02 and a 200-day simple moving average of $91.27. Colgate-Palmolive has a 1 year low of $85.32 and a 1 year high of $109.30. The stock has a market capitalization of $75.39 billion, a P/E ratio of 26.43, a P/E/G ratio of 4.20 and a beta of 0.39. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40.

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, beating the consensus estimate of $0.86 by $0.05. The company had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.92 billion. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. The company's revenue was down 3.0% on a year-over-year basis. During the same period last year, the business posted $0.86 EPS. Analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 17th were issued a dividend of $0.52 per share. The ex-dividend date was Thursday, April 17th. This is a boost from Colgate-Palmolive's previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 2.24%. 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 allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to buy up to 6.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

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.