Topsail Wealth Management LLC Invests $285,000 in Colgate-Palmolive Company (NYSE:CL)

Topsail Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,043 shares of the company's stock, valued at approximately $285,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CL. Westend Capital Management LLC raised its position in Colgate-Palmolive by 111.1% in the first quarter. Westend Capital Management LLC now owns 266 shares of the company's stock valued at $25,000 after purchasing an additional 140 shares during the period. Cornerstone Planning Group LLC grew its position in Colgate-Palmolive by 1,913.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock valued at $28,000 after acquiring an additional 287 shares in the last quarter. Vermillion Wealth Management Inc. purchased a new position in shares of Colgate-Palmolive in the fourth quarter valued at approximately $31,000. Briaud Financial Planning Inc acquired a new position in shares of Colgate-Palmolive in the fourth quarter valued at approximately $32,000. Finally, Wintrust Investments LLC purchased a new stake in Colgate-Palmolive during the 4th quarter worth approximately $33,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock traded down $1.02 during trading on Friday, reaching $89.60. The company's stock had a trading volume of 4,372,701 shares, compared to its average volume of 4,845,232. The firm has a market cap of $72.61 billion, a PE ratio of 25.31, a P/E/G ratio of 4.85 and a beta of 0.37. The company has a 50-day moving average price of $90.64 and a two-hundred day moving average price of $90.54. 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 Company has a fifty-two week low of $85.32 and a fifty-two week high of $109.30.

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

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

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.08 annualized dividend and a dividend yield of 2.32%. Colgate-Palmolive's dividend payout ratio (DPR) is currently 58.76%.

Analyst Ratings Changes

Several equities analysts have commented on CL shares. Piper Sandler dropped their price target on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. JPMorgan Chase & Co. boosted their target price on Colgate-Palmolive from $95.00 to $103.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. UBS Group increased their price target on Colgate-Palmolive from $105.00 to $109.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Barclays lowered their price objective on Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. Finally, Citigroup lifted their price target 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. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $101.13.

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.