Wealthfront Advisers LLC Raises Stock Holdings in Colgate-Palmolive Company (NYSE:CL)

Wealthfront Advisers LLC boosted its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 6.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 123,238 shares of the company's stock after buying an additional 7,705 shares during the period. Wealthfront Advisers LLC's holdings in Colgate-Palmolive were worth $11,547,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cornerstone Wealth Management LLC lifted its stake in Colgate-Palmolive by 1.2% during the 1st quarter. Cornerstone Wealth Management LLC now owns 9,035 shares of the company's stock valued at $847,000 after acquiring an additional 110 shares in the last quarter. Axxcess Wealth Management LLC lifted its stake in Colgate-Palmolive by 0.3% during the 4th quarter. Axxcess Wealth Management LLC now owns 38,786 shares of the company's stock valued at $3,526,000 after acquiring an additional 117 shares in the last quarter. Wescott Financial Advisory Group LLC lifted its stake in Colgate-Palmolive by 3.5% during the 4th quarter. Wescott Financial Advisory Group LLC now owns 3,517 shares of the company's stock valued at $320,000 after acquiring an additional 119 shares in the last quarter. Aberdeen Wealth Management LLC lifted its stake in Colgate-Palmolive by 0.6% during the 4th quarter. Aberdeen Wealth Management LLC now owns 20,651 shares of the company's stock valued at $1,877,000 after acquiring 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% during the 1st 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 acquiring an additional 130 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on CL shares. Wall Street Zen cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Piper Sandler dropped 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 raised their price objective on Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a research note 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 note on Wednesday, April 2nd. Finally, UBS Group reduced their price target on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $101.00.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock traded up $0.10 during midday trading on Friday, reaching $86.82. The stock had a trading volume of 1,729,529 shares, compared to its average volume of 4,848,889. Colgate-Palmolive Company has a 12 month low of $85.32 and a 12 month high of $109.30. The firm's 50-day moving average price is $90.40 and its 200 day moving average price is $90.41. The firm has a market capitalization of $70.36 billion, a PE ratio of 24.55, a P/E/G ratio of 4.63 and a beta of 0.37. 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 (NYSE:CL - Get Free Report) last announced its quarterly 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. Colgate-Palmolive had a return on equity of 461.04% and a net margin of 14.52%. The firm had revenue of $4.91 billion for the quarter, compared to analysts' expectations of $4.92 billion. During the same period in the prior year, the business posted $0.86 earnings per share. The company's revenue was down 3.0% on a year-over-year basis. As a group, research analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

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

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive's dividend payout ratio is presently 58.76%.

Colgate-Palmolive Company 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.