Trinity Financial Advisors LLC Takes Position in Colgate-Palmolive (NYSE:CL)

Trinity Financial Advisors LLC acquired a new position in shares of Colgate-Palmolive (NYSE:CL - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,816 shares of the company's stock, valued at approximately $639,000.

Several other hedge funds and other institutional investors have also modified their holdings of CL. Norges Bank acquired a new stake in Colgate-Palmolive during the fourth quarter worth about $912,375,000. Diamond Hill Capital Management Inc. bought a new stake in shares of Colgate-Palmolive during the fourth quarter worth $348,718,000. AMF Tjanstepension AB grew its holdings in shares of Colgate-Palmolive by 1,088.8% during the fourth quarter. AMF Tjanstepension AB now owns 2,569,394 shares of the company's stock worth $233,584,000 after purchasing an additional 2,353,268 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Colgate-Palmolive by 35.6% during the fourth quarter. Deutsche Bank AG now owns 6,922,994 shares of the company's stock worth $629,369,000 after purchasing an additional 1,816,865 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Colgate-Palmolive in the fourth quarter valued at about $132,405,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Down 3.2%

Shares of NYSE:CL traded down $2.94 during trading on Friday, hitting $90.20. The company's stock had a trading volume of 5,331,970 shares, compared to its average volume of 4,757,255. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92. The business has a 50 day moving average price of $91.75 and a two-hundred day moving average price of $91.03. The company has a market capitalization of $73.10 billion, a PE ratio of 25.63, a P/E/G ratio of 4.20 and a beta of 0.38. Colgate-Palmolive 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 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05. The business had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.92 billion. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. 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 firm earned $0.86 earnings per share. As a group, research analysts expect that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive declared that its board has approved a share buyback program on Thursday, March 20th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.

Colgate-Palmolive Announces Dividend

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 given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive's dividend payout ratio (DPR) is presently 58.76%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Piper Sandler reduced their target price on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. Barclays lowered their price target on Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. UBS Group boosted their target price on Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Citigroup boosted their target price on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. boosted their price target on Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Colgate-Palmolive presently has a consensus rating of "Hold" and a consensus price target of $102.12.

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.