Wealth Enhancement Advisory Services LLC Purchases 11,484 Shares of Colgate-Palmolive (NYSE:CL)

Wealth Enhancement Advisory Services LLC boosted its position in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 4.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 266,407 shares of the company's stock after acquiring an additional 11,484 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Colgate-Palmolive were worth $24,219,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Colgate-Palmolive during the 4th quarter valued at about $912,375,000. Diamond Hill Capital Management Inc. purchased a new position in shares of Colgate-Palmolive during the 4th quarter valued at about $348,718,000. AMF Tjanstepension AB lifted its position in Colgate-Palmolive by 1,088.8% in the 4th quarter. AMF Tjanstepension AB now owns 2,569,394 shares of the company's stock worth $233,584,000 after buying an additional 2,353,268 shares during the last quarter. Deutsche Bank AG grew its position in Colgate-Palmolive by 35.6% during the fourth quarter. Deutsche Bank AG now owns 6,922,994 shares of the company's stock valued at $629,369,000 after acquiring an additional 1,816,865 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Colgate-Palmolive during the fourth quarter worth approximately $132,405,000. Institutional investors own 80.41% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CL. Wells Fargo & Company upped their price objective 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. Piper Sandler reduced their price objective on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a research note on Monday, March 31st. Citigroup lifted their price objective on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a report on Monday, April 28th. JPMorgan Chase & Co. increased their price target on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Finally, Wall Street Zen cut shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $102.12.

Colgate-Palmolive Stock Performance

NYSE:CL traded down $1.25 during trading hours on Monday, reaching $91.69. The company had a trading volume of 1,630,711 shares, compared to its average volume of 4,686,563. Colgate-Palmolive has a 52 week low of $85.32 and a 52 week high of $109.30. The firm's 50 day moving average price is $92.02 and its 200-day moving average price is $91.27. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. The firm has a market cap of $74.31 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 4.20 and a beta of 0.39.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $4.91 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 EPS. On average, analysts forecast that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 17th were given a $0.52 dividend. This is an increase from Colgate-Palmolive's previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Thursday, April 17th. Colgate-Palmolive's payout ratio is currently 58.76%.

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