Vision Capital Management Inc. Invests $322,000 in Colgate-Palmolive Company (NYSE:CL)

Vision Capital Management Inc. purchased a new stake in Colgate-Palmolive Company (NYSE:CL - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,438 shares of the company's stock, valued at approximately $322,000.

Other institutional investors have also recently made changes to their positions in the company. Financial Gravity Asset Management Inc. purchased a new stake in Colgate-Palmolive in the 1st quarter worth about $2,166,000. Alps Advisors Inc. raised its position in Colgate-Palmolive by 2.7% in the 1st quarter. Alps Advisors Inc. now owns 33,673 shares of the company's stock worth $3,155,000 after purchasing an additional 899 shares during the period. Galibier Capital Management Ltd. raised its position in Colgate-Palmolive by 1,119.3% in the 1st quarter. Galibier Capital Management Ltd. now owns 14,631 shares of the company's stock worth $1,371,000 after purchasing an additional 13,431 shares during the period. Quotient Wealth Partners LLC raised its position in Colgate-Palmolive by 79.9% in the 1st quarter. Quotient Wealth Partners LLC now owns 5,501 shares of the company's stock worth $515,000 after purchasing an additional 2,443 shares during the period. Finally, Topsail Wealth Management LLC purchased a new stake in Colgate-Palmolive in the 1st quarter worth about $285,000. Institutional investors own 80.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CL shares. UBS Group raised their target price on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Piper Sandler reduced their target price 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. Wells Fargo & Company raised their target price on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 2nd. Wall Street Zen lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Finally, Barclays reduced their target price on shares of 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. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, Colgate-Palmolive has a consensus rating of "Hold" and an average price target of $101.13.

Colgate-Palmolive Stock Down 1.1%

CL stock traded down $1.02 during trading on Friday, hitting $89.60. 4,372,701 shares of the company's stock traded hands, compared to its average volume of 4,858,909. The firm has a market capitalization of $72.61 billion, a P/E ratio of 25.31, a PEG ratio of 4.74 and a beta of 0.37. The business has a fifty day simple moving average of $90.63 and a two-hundred day simple moving average of $90.49. 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 Company has a 1 year low of $85.32 and a 1 year 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, beating the consensus estimate of $0.86 by $0.05. The company 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 14.52% and a return on equity of 461.04%. Colgate-Palmolive's revenue was down 3.0% compared to the same quarter last year. During the same period last year, the firm earned $0.86 earnings per share. Sell-side analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company 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 is Friday, July 18th. This represents a $2.08 annualized dividend and a yield of 2.32%. Colgate-Palmolive's dividend payout ratio (DPR) is 58.76%.

Colgate-Palmolive announced that its Board of Directors has authorized a stock buyback plan 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 plans are typically an indication that the company's leadership believes its shares are undervalued.

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.