Wright Investors Service Inc. Acquires New Holdings in Colgate-Palmolive (NYSE:CL)

Wright Investors Service Inc. purchased a new stake in shares of Colgate-Palmolive (NYSE:CL - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 22,316 shares of the company's stock, valued at approximately $2,091,000.

Other large investors have also recently added to or reduced their stakes in the company. Czech National Bank lifted its stake in Colgate-Palmolive by 5.2% in the first quarter. Czech National Bank now owns 186,397 shares of the company's stock valued at $17,465,000 after buying an additional 9,252 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its stake in shares of Colgate-Palmolive by 7.5% in the first quarter. Fifth Third Wealth Advisors LLC now owns 11,575 shares of the company's stock worth $1,085,000 after purchasing an additional 808 shares in the last quarter. Beese Fulmer Investment Management Inc. bought a new position in shares of Colgate-Palmolive in the first quarter worth $208,000. Somerset Trust Co grew its stake in shares of Colgate-Palmolive by 5.6% in the first quarter. Somerset Trust Co now owns 26,247 shares of the company's stock worth $2,459,000 after purchasing an additional 1,388 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC grew its stake in shares of Colgate-Palmolive by 268.1% in the first quarter. S.E.E.D. Planning Group LLC now owns 32,091 shares of the company's stock worth $3,007,000 after purchasing an additional 23,372 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Down 0.3%

Colgate-Palmolive stock traded down $0.23 during mid-day trading on Thursday, hitting $89.97. The company's stock had a trading volume of 2,494,697 shares, compared to its average volume of 4,691,852. The firm's 50 day moving average is $91.92 and its 200 day moving average is $91.25. The company has a market cap of $72.91 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 4.20 and a beta of 0.39. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58. Colgate-Palmolive has a 52-week low of $85.32 and a 52-week high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.05. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. The firm had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.92 billion. During the same period in the prior year, the business earned $0.86 EPS. The business's revenue for the quarter was down 3.0% on a year-over-year basis. On average, analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current year.

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

Colgate-Palmolive Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th were paid a dividend of $0.52 per share. 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. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.31%. Colgate-Palmolive's dividend payout ratio (DPR) is 58.76%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Barclays decreased their price target on Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. Piper Sandler decreased their price target on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. UBS Group raised their target price on Colgate-Palmolive from $105.00 to $109.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Wells Fargo & Company raised their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a research note on Wednesday, April 2nd. Finally, Wall Street Zen cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Colgate-Palmolive currently has a consensus rating of "Hold" and an average price target of $102.12.

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.