Richard C. Young & CO. LTD. Boosts Stake in Colgate-Palmolive Company (NYSE:CL)

Richard C. Young & CO. LTD. raised its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 8.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,462 shares of the company's stock after purchasing an additional 7,554 shares during the quarter. Richard C. Young & CO. LTD.'s holdings in Colgate-Palmolive were worth $9,132,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CL. Westend Capital Management LLC increased its stake in shares of Colgate-Palmolive by 111.1% in the first quarter. Westend Capital Management LLC now owns 266 shares of the company's stock worth $25,000 after acquiring an additional 140 shares during the period. Cornerstone Planning Group LLC increased its stake in shares of Colgate-Palmolive by 1,913.3% in the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock worth $28,000 after acquiring an additional 287 shares during the period. Vermillion Wealth Management Inc. acquired a new stake in shares of Colgate-Palmolive in the fourth quarter worth $31,000. Bernard Wealth Management Corp. acquired a new stake in shares of Colgate-Palmolive in the fourth quarter worth $33,000. Finally, Accredited Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive in the fourth quarter worth $34,000. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Price Performance

CL traded down $0.38 during midday trading on Thursday, hitting $87.28. 3,788,095 shares of the company traded hands, compared to its average volume of 4,860,882. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 8.96. The company has a market capitalization of $70.73 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 4.63 and a beta of 0.37. Colgate-Palmolive Company has a 52-week low of $85.32 and a 52-week high of $109.30. The business has a 50 day simple moving average of $90.47 and a two-hundred day simple moving average of $90.44.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.05. The business had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.92 billion. Colgate-Palmolive had a net margin of 14.52% and a return on equity of 461.04%. The company's revenue was down 3.0% compared to the same quarter last year. During the same period last year, the firm posted $0.86 earnings per share. On average, equities analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm 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 $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive's dividend payout ratio is currently 58.76%.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on CL shares. Wall Street Zen lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. UBS Group lowered their price target on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a report on Thursday. JPMorgan Chase & Co. increased their price target on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Citigroup increased their price target on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a report on Monday, April 28th. Finally, Piper Sandler lowered their price target on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $101.00.

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.