Zhang Financial LLC Has $1.47 Million Holdings in Colgate-Palmolive (NYSE:CL)

Zhang Financial LLC raised its stake in Colgate-Palmolive (NYSE:CL - Free Report) by 56.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 15,695 shares of the company's stock after buying an additional 5,660 shares during the quarter. Zhang Financial LLC's holdings in Colgate-Palmolive were worth $1,471,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CL. Vanguard Group Inc. increased its stake in shares of Colgate-Palmolive by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 81,303,059 shares of the company's stock valued at $7,391,261,000 after acquiring an additional 588,230 shares during the period. Geode Capital Management LLC grew its holdings in Colgate-Palmolive by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 20,518,014 shares of the company's stock worth $1,868,723,000 after acquiring an additional 324,683 shares during the period. Norges Bank bought a new position in shares of Colgate-Palmolive during the 4th quarter valued at about $912,375,000. Northern Trust Corp grew its stake in shares of Colgate-Palmolive by 11.7% in the 4th quarter. Northern Trust Corp now owns 9,497,819 shares of the company's stock worth $863,447,000 after purchasing an additional 993,328 shares during the last quarter. Finally, Amundi raised its holdings in shares of Colgate-Palmolive by 12.8% in the 4th quarter. Amundi now owns 9,200,144 shares of the company's stock worth $806,015,000 after purchasing an additional 1,040,604 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Piper Sandler decreased their price target on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a research report on Monday, March 31st. JPMorgan Chase & Co. increased their price target on Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Barclays cut their price objective on Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. Wall Street Zen cut shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, UBS Group boosted their target price on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, Colgate-Palmolive has a consensus rating of "Hold" and a consensus target price of $102.12.

Colgate-Palmolive Stock Down 3.2%

NYSE CL traded down $2.94 during trading on Friday, reaching $90.20. The company's stock had a trading volume of 5,331,970 shares, compared to its average volume of 4,749,113. The stock has a market capitalization of $73.10 billion, a PE ratio of 25.63, a PEG ratio of 4.20 and a beta of 0.38. The business has a 50-day moving average price of $91.71 and a 200-day moving average price of $91.12. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. Colgate-Palmolive has a 1-year low of $85.32 and a 1-year high of $109.30.

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 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 company had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. During the same period last year, the company earned $0.86 earnings per share. The business's revenue was down 3.0% compared to the same quarter last year. On average, research analysts forecast that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive's dividend payout ratio is currently 58.76%.

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