Peak Retirement Planning Inc. Purchases New Position in Colgate-Palmolive (NYSE:CL)

Peak Retirement Planning Inc. purchased a new position in Colgate-Palmolive (NYSE:CL - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 8,720 shares of the company's stock, valued at approximately $792,000.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Colgate-Palmolive by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 81,303,059 shares of the company's stock worth $7,391,261,000 after purchasing an additional 588,230 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Colgate-Palmolive by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 20,518,014 shares of the company's stock worth $1,868,723,000 after purchasing an additional 324,683 shares during the last quarter. Norges Bank purchased a new position in shares of Colgate-Palmolive in the fourth quarter worth $912,375,000. Northern Trust Corp raised its stake in shares of Colgate-Palmolive by 11.7% in the fourth quarter. Northern Trust Corp now owns 9,497,819 shares of the company's stock worth $863,447,000 after purchasing an additional 993,328 shares during the last quarter. Finally, Amundi raised its stake in shares of Colgate-Palmolive by 12.8% in the fourth quarter. Amundi now owns 9,200,144 shares of the company's stock worth $806,015,000 after purchasing an additional 1,040,604 shares during the last quarter. Institutional investors own 80.41% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CL shares. Raymond James restated an "outperform" rating and issued a $105.00 price target (down previously from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. Morgan Stanley decreased their price target on Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Stifel Nicolaus reduced their price objective on Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating for the company in a research report on Monday, February 3rd. UBS Group upped their price objective 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 objective on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Colgate-Palmolive currently has an average rating of "Hold" and an average target price of $102.12.

Colgate-Palmolive Stock Performance

NYSE:CL traded down $0.71 during mid-day trading on Wednesday, hitting $91.72. 5,267,044 shares of the company traded hands, compared to its average volume of 4,685,608. The stock's fifty day moving average price is $91.90 and its 200-day moving average price is $91.25. Colgate-Palmolive has a one year low of $85.32 and a one year high of $109.30. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40. The firm has a market cap of $74.33 billion, a price-to-earnings ratio of 26.06, a price-to-earnings-growth ratio of 4.20 and a beta of 0.39.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.05. The firm had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.92 billion. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. 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 company posted $0.86 earnings per share. Research analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th were paid a $0.52 dividend. This is a positive change from Colgate-Palmolive's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.27%. Colgate-Palmolive's dividend payout ratio is 58.76%.

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

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.