Topsail Wealth Management LLC Acquires Shares of 3,043 Colgate-Palmolive Company (NYSE:CL)

Topsail Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,043 shares of the company's stock, valued at approximately $285,000.

A number of other large investors have also made changes to their positions in CL. Cornerstone Wealth Management LLC lifted its stake in Colgate-Palmolive by 1.2% in the first quarter. Cornerstone Wealth Management LLC now owns 9,035 shares of the company's stock valued at $847,000 after buying an additional 110 shares in the last quarter. Axxcess Wealth Management LLC lifted its stake in Colgate-Palmolive by 0.3% in the fourth quarter. Axxcess Wealth Management LLC now owns 38,786 shares of the company's stock valued at $3,526,000 after buying an additional 117 shares in the last quarter. Wescott Financial Advisory Group LLC lifted its stake in Colgate-Palmolive by 3.5% in the fourth quarter. Wescott Financial Advisory Group LLC now owns 3,517 shares of the company's stock valued at $320,000 after buying an additional 119 shares in the last quarter. Aberdeen Wealth Management LLC lifted its stake in Colgate-Palmolive by 0.6% in the fourth quarter. Aberdeen Wealth Management LLC now owns 20,651 shares of the company's stock valued at $1,877,000 after buying an additional 125 shares in the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its stake in Colgate-Palmolive by 4.0% in the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 3,388 shares of the company's stock valued at $317,000 after buying an additional 130 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CL. Wells Fargo & Company lifted their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a research note on Wednesday, April 2nd. Barclays cut their price target on shares of Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. boosted their price objective on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Piper Sandler cut their price objective on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a research report on Monday, March 31st. Finally, 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 report on Monday, April 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $101.69.

Colgate-Palmolive Stock Down 1.0%

CL traded down $0.95 during trading on Thursday, reaching $90.63. 4,531,922 shares of the stock were exchanged, compared to its average volume of 4,847,121. The stock has a market cap of $73.45 billion, a P/E ratio of 25.60, a price-to-earnings-growth ratio of 4.85 and a beta of 0.37. Colgate-Palmolive Company has a twelve month low of $85.32 and a twelve month high of $109.30. The stock's 50 day moving average price is $90.64 and its two-hundred day moving average price is $90.54. The company has a debt-to-equity ratio of 8.96, a quick ratio of 0.54 and a current ratio of 0.85.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its 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. 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 for the quarter, compared to the consensus estimate of $4.92 billion. During the same period in the previous year, the company earned $0.86 earnings per share. The firm's revenue for the quarter was down 3.0% on a year-over-year basis. Equities analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive declared that its board has approved a stock buyback plan on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be issued a $0.52 dividend. The ex-dividend date is Friday, July 18th. This represents a $2.08 annualized dividend and a dividend yield of 2.30%. Colgate-Palmolive's dividend payout ratio is currently 58.76%.

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.