Sowell Financial Services LLC purchased a new stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 5,344 shares of the company's stock, valued at approximately $501,000.
Several other large investors have also made changes to their positions in CL. Kohmann Bosshard Financial Services LLC bought a new stake in Colgate-Palmolive in the fourth quarter worth approximately $26,000. Centricity Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive in the 4th quarter valued at $27,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Colgate-Palmolive in the 4th quarter valued at $31,000. Union Bancaire Privee UBP SA bought a new stake in Colgate-Palmolive in the fourth quarter worth $32,000. Finally, Briaud Financial Planning Inc acquired a new stake in shares of Colgate-Palmolive in the fourth quarter worth about $32,000. Institutional investors own 80.41% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the company. Wells Fargo & Company increased their price objective on Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a report on Wednesday, April 2nd. JPMorgan Chase & Co. increased their price target on Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Citigroup boosted their price objective on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. UBS Group raised their target price on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Finally, Wall Street Zen downgraded shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $102.12.
Read Our Latest Stock Analysis on CL
Colgate-Palmolive Stock Performance
Shares of CL stock traded down $0.34 during mid-day trading on Friday, reaching $87.85. The stock had a trading volume of 9,572,245 shares, compared to its average volume of 4,792,528. Colgate-Palmolive Company has a one year low of $85.32 and a one year high of $109.30. The firm has a market cap of $71.19 billion, a PE ratio of 24.82, a P/E/G ratio of 4.68 and a beta of 0.38. The firm's 50 day simple moving average is $91.63 and its 200 day simple moving average is $90.85. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 8.96.
Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings results 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 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 business's revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.86 earnings per share. On average, analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.
Colgate-Palmolive announced that its board has authorized a share repurchase plan on Thursday, March 20th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.
Colgate-Palmolive Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be paid a $0.52 dividend. The ex-dividend date 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 currently 58.76%.
Colgate-Palmolive Company Profile
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Free Report)
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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