Oppenheimer Asset Management Inc. Grows Stock Holdings in Colgate-Palmolive Company (NYSE:CL)

Oppenheimer Asset Management Inc. boosted its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 69.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,854 shares of the company's stock after buying an additional 9,815 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Colgate-Palmolive were worth $2,235,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CL. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at $26,000. Vermillion Wealth Management Inc. purchased a new stake in Colgate-Palmolive in the fourth quarter valued at $31,000. Briaud Financial Planning Inc acquired a new position in Colgate-Palmolive in the fourth quarter valued at $32,000. Wintrust Investments LLC purchased a new position in shares of Colgate-Palmolive during the fourth quarter worth about $33,000. Finally, Accredited Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth about $34,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on CL. Wall Street Zen downgraded Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Wells Fargo & Company lifted their target price on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a report on Wednesday, April 2nd. Barclays decreased their price target on shares of Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. raised their price objective on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Finally, UBS Group upped their target price on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the company a "buy" rating in a report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, Colgate-Palmolive currently has a consensus rating of "Hold" and a consensus target price of $101.69.

Colgate-Palmolive Trading Up 0.1%

Shares of CL stock opened at $87.85 on Friday. 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 business's fifty day moving average price is $90.99 and its 200 day moving average price is $90.64. The firm has a market capitalization of $71.19 billion, a PE ratio of 24.82, a P/E/G ratio of 4.66 and a beta of 0.38.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $4.92 billion. During the same quarter last year, the firm posted $0.86 EPS. The business's revenue was down 3.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

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

Colgate-Palmolive declared that its board has authorized a stock repurchase plan on Thursday, March 20th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to purchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is 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.

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