Parr Mcknight Wealth Management Group LLC Purchases Shares of 24,115 Colgate-Palmolive (NYSE:CL)

Parr Mcknight Wealth Management Group LLC purchased a new position in Colgate-Palmolive (NYSE:CL - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 24,115 shares of the company's stock, valued at approximately $2,192,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Pacific Point Advisors LLC purchased a new position in shares of Colgate-Palmolive in the fourth quarter valued at $1,283,000. Vise Technologies Inc. boosted its holdings in Colgate-Palmolive by 64.3% during the 4th quarter. Vise Technologies Inc. now owns 17,586 shares of the company's stock valued at $1,599,000 after acquiring an additional 6,883 shares during the period. Orion Capital Management LLC purchased a new position in Colgate-Palmolive in the 4th quarter worth about $91,000. Novem Group purchased a new position in shares of Colgate-Palmolive during the fourth quarter worth approximately $243,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Colgate-Palmolive by 14.3% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 148,649 shares of the company's stock valued at $13,514,000 after purchasing an additional 18,595 shares in the last quarter. Institutional investors own 80.41% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CL shares. Stifel Nicolaus reduced their price target on shares of Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating for the company in a report on Monday, February 3rd. Royal Bank of Canada restated a "sector perform" rating and issued a $101.00 price target on shares of Colgate-Palmolive in a report on Wednesday, January 29th. Wall Street Zen lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Piper Sandler decreased their price objective on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a report on Monday, March 31st. Finally, UBS Group raised their price objective on Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $102.12.

Colgate-Palmolive Stock Performance

CL opened at $90.84 on Friday. The firm's 50-day moving average price is $91.75 and its 200 day moving average price is $91.25. The firm has a market capitalization of $73.62 billion, a PE ratio of 25.81, a PEG ratio of 4.20 and a beta of 0.39. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.86 by $0.05. The firm had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. The business's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 EPS. As a group, sell-side analysts expect that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive declared that its Board of Directors has initiated 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 repurchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 17th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.29%. This is a positive change from Colgate-Palmolive's previous quarterly dividend of $0.50. The ex-dividend date was Thursday, April 17th. Colgate-Palmolive's dividend payout ratio is presently 58.76%.

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.

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