Wedmont Private Capital Has $843,000 Stock Holdings in Colgate-Palmolive (NYSE:CL)

Wedmont Private Capital cut its stake in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 27.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,972 shares of the company's stock after selling 3,419 shares during the period. Wedmont Private Capital's holdings in Colgate-Palmolive were worth $843,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new position in Colgate-Palmolive during the fourth quarter worth $26,000. Centricity Wealth Management LLC purchased a new stake in Colgate-Palmolive during the 4th quarter worth $27,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Colgate-Palmolive during the fourth quarter valued at approximately $31,000. Union Bancaire Privee UBP SA purchased a new position in Colgate-Palmolive in the fourth quarter valued at about $32,000. Finally, Briaud Financial Planning Inc acquired a new position in Colgate-Palmolive during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Trading Up 0.1%

Colgate-Palmolive stock traded up $0.08 during trading on Wednesday, hitting $92.02. The company's stock had a trading volume of 5,353,809 shares, compared to its average volume of 4,740,439. The stock has a market capitalization of $74.57 billion, a price-to-earnings ratio of 26.14, a P/E/G ratio of 4.20 and a beta of 0.38. The stock's fifty day moving average is $91.63 and its 200 day moving average is $91.13. Colgate-Palmolive has a 1-year low of $85.32 and a 1-year high of $109.30. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.86 by $0.05. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. The business had revenue of $4.91 billion for the quarter, compared to analysts' expectations of $4.92 billion. During the same quarter last year, the company posted $0.86 earnings per share. The company's quarterly revenue was down 3.0% compared to the same quarter last year. As a group, equities research analysts predict that Colgate-Palmolive will post 3.75 EPS for the current year.

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

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 17th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.26%. This is a positive change from Colgate-Palmolive's previous quarterly dividend of $0.50. The ex-dividend date was Thursday, April 17th. Colgate-Palmolive's payout ratio is presently 58.76%.

Wall Street Analysts Forecast Growth

CL has been the topic of a number of recent analyst reports. Barclays dropped their price target 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. Citigroup raised their price target on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Wall Street Zen cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Wells Fargo & Company raised their price target on Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a report on Wednesday, April 2nd. Finally, Piper Sandler decreased their price objective on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price 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.