Oppenheimer & Co. Inc. Buys 12,646 Shares of Colgate-Palmolive Company (NYSE:CL)

Oppenheimer & Co. Inc. boosted its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 33.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,915 shares of the company's stock after acquiring an additional 12,646 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Colgate-Palmolive were worth $4,771,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Colgate-Palmolive during the 4th quarter worth $912,375,000. Diamond Hill Capital Management Inc. acquired a new stake in Colgate-Palmolive during the fourth quarter worth about $348,718,000. AMF Tjanstepension AB boosted its position in Colgate-Palmolive by 1,088.8% during the 4th quarter. AMF Tjanstepension AB now owns 2,569,394 shares of the company's stock worth $233,584,000 after purchasing an additional 2,353,268 shares during the period. Deutsche Bank AG grew its holdings in Colgate-Palmolive by 35.6% during the 4th quarter. Deutsche Bank AG now owns 6,922,994 shares of the company's stock valued at $629,369,000 after purchasing an additional 1,816,865 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Colgate-Palmolive during the 4th quarter valued at approximately $132,405,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CL. Citigroup boosted their price target on Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a report on Monday, April 28th. Piper Sandler dropped their price objective on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a research note on Monday, March 31st. Wells Fargo & Company upped their price objective on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a research note on Wednesday, April 2nd. UBS Group boosted their target price on Colgate-Palmolive from $105.00 to $109.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Finally, Barclays decreased their price objective on shares of Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. 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. Based on data from MarketBeat, Colgate-Palmolive has a consensus rating of "Hold" and a consensus target price of $101.69.

Colgate-Palmolive Price Performance

NYSE:CL traded down $0.38 during mid-day trading on Wednesday, hitting $87.80. The company's stock had a trading volume of 3,407,409 shares, compared to its average volume of 4,784,635. The company has a market capitalization of $71.15 billion, a price-to-earnings ratio of 24.80, a P/E/G ratio of 4.71 and a beta of 0.38. The stock has a fifty day moving average of $91.26 and a 200-day moving average of $90.69. Colgate-Palmolive Company has a fifty-two week low of $85.32 and a fifty-two week high of $109.30. 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, beating analysts' consensus estimates of $0.86 by $0.05. Colgate-Palmolive had a return on equity of 461.04% and a net margin of 14.52%. The company had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.92 billion. During the same period last year, the company posted $0.86 earnings per share. The firm's quarterly revenue was down 3.0% compared to the same quarter last year. As a group, equities analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive announced that its board has authorized a share buyback program on Thursday, March 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to purchase up to 6.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a yield of 2.37%. Colgate-Palmolive's payout ratio is presently 58.76%.

About Colgate-Palmolive

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.