Williams Jones Wealth Management LLC. Sells 2,763 Shares of Colgate-Palmolive (NYSE:CL)

Williams Jones Wealth Management LLC. cut its stake in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 101,483 shares of the company's stock after selling 2,763 shares during the period. Williams Jones Wealth Management LLC.'s holdings in Colgate-Palmolive were worth $9,226,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CL. Kohmann Bosshard Financial Services LLC bought a new position in shares of Colgate-Palmolive during the fourth quarter valued at $26,000. Centricity Wealth Management LLC acquired a new stake in Colgate-Palmolive in the fourth quarter valued at $27,000. Union Bancaire Privee UBP SA bought a new position in Colgate-Palmolive during the 4th quarter worth $32,000. Briaud Financial Planning Inc bought a new position in Colgate-Palmolive during the 4th quarter worth $32,000. Finally, Wintrust Investments LLC acquired a new position in Colgate-Palmolive during the 4th quarter worth about $33,000. 80.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CL. Stifel Nicolaus lowered their price objective on Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating for the company in a research report on Monday, February 3rd. Piper Sandler decreased their target price on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. UBS Group raised their price target on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Morgan Stanley reduced their price objective on shares of Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Finally, Citigroup increased their price objective 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. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Colgate-Palmolive presently has an average rating of "Hold" and a consensus target price of $102.12.

Colgate-Palmolive Price Performance

Shares of CL opened at $91.72 on Tuesday. Colgate-Palmolive has a 12-month low of $85.32 and a 12-month high of $109.30. The stock has a market cap of $74.33 billion, a P/E ratio of 26.06, a P/E/G ratio of 4.20 and a beta of 0.39. The business's fifty day moving average is $91.67 and its 200 day moving average is $91.26. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.05. The company had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. The company's revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter last year, the company earned $0.86 earnings per share. Sell-side analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th were paid a $0.52 dividend. 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. This is an increase from Colgate-Palmolive's previous quarterly dividend of $0.50. Colgate-Palmolive's payout ratio is presently 58.76%.

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

Colgate-Palmolive 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.

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