Vision Capital Management Inc. Buys New Stake in Colgate-Palmolive Company (NYSE:CL)

Vision Capital Management Inc. acquired a new position in Colgate-Palmolive Company (NYSE:CL - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,438 shares of the company's stock, valued at approximately $322,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Westend Capital Management LLC lifted its holdings in Colgate-Palmolive by 111.1% during the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company's stock worth $25,000 after buying an additional 140 shares during the last quarter. Cornerstone Planning Group LLC lifted its holdings in Colgate-Palmolive by 1,913.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock worth $28,000 after buying an additional 287 shares during the last quarter. Vermillion Wealth Management Inc. purchased a new stake in Colgate-Palmolive during the 4th quarter worth about $31,000. Wintrust Investments LLC purchased a new stake in Colgate-Palmolive during the 4th quarter worth about $33,000. Finally, Bernard Wealth Management Corp. purchased a new stake in Colgate-Palmolive during the 4th quarter worth about $33,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

NYSE CL traded down $1.02 on Friday, hitting $89.60. 4,372,701 shares of the company's stock were exchanged, compared to its average volume of 4,849,733. The firm has a market cap of $72.61 billion, a price-to-earnings ratio of 25.31, a P/E/G ratio of 4.80 and a beta of 0.37. The company has a debt-to-equity ratio of 8.96, a current ratio of 0.85 and a quick ratio of 0.54. The firm's 50-day moving average price is $90.63 and its two-hundred day moving average price is $90.52. 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 released 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 business had revenue of $4.91 billion for the quarter, compared to analysts' expectations of $4.92 billion. Colgate-Palmolive had a return on equity of 461.04% and a net margin of 14.52%. The company's revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.86 EPS. On average, research analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive announced that its board has initiated a share repurchase plan on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board believes its shares are undervalued.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive's dividend payout ratio is currently 58.76%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CL. Citigroup lifted their target price on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Wells Fargo & Company lifted their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 2nd. Barclays cut their target price 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 lifted their target price on Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Finally, Piper Sandler cut their target price on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a research report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target 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.