Harbor Capital Advisors Inc. Increases Stock Holdings in Colgate-Palmolive (NYSE:CL)

Harbor Capital Advisors Inc. raised its stake in Colgate-Palmolive (NYSE:CLFree Report) by 7.2% during the 1st quarter, HoldingsChannel reports. The firm owned 14,879 shares of the company’s stock after acquiring an additional 1,005 shares during the period. Harbor Capital Advisors Inc.’s holdings in Colgate-Palmolive were worth $1,394,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Kohmann Bosshard Financial Services LLC purchased a new stake in Colgate-Palmolive in the 4th quarter valued at approximately $26,000. Centricity Wealth Management LLC purchased a new stake in Colgate-Palmolive in the 4th quarter valued at approximately $27,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Colgate-Palmolive in the 4th quarter valued at approximately $31,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Colgate-Palmolive in the fourth quarter valued at approximately $32,000. Finally, Briaud Financial Planning Inc purchased a new stake in shares of Colgate-Palmolive in the fourth quarter valued at approximately $32,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CL has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their price objective on Colgate-Palmolive from $95.00 to $103.00 and gave the stock an “overweight” rating in a research report on Monday, April 28th. Wells Fargo & Company upped their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 2nd. UBS Group upped their price target on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the stock a “buy” rating in a research note on Thursday, April 17th. Piper Sandler decreased their price objective on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. Finally, Barclays decreased their price objective on shares of Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating on the stock in a report on Friday, April 11th. One investment 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. Based on data from MarketBeat, Colgate-Palmolive presently has a consensus rating of “Hold” and a consensus target price of $102.12.

Get Our Latest Stock Report on Colgate-Palmolive

Colgate-Palmolive Trading Up 1.1%

Shares of CL stock opened at $93.12 on Friday. The firm has a 50-day moving average price of $91.71 and a 200 day moving average price of $91.12. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30. The company has a market capitalization of $75.47 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 4.20 and a beta of 0.38. 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 (NYSE:CLGet Free Report) last issued its quarterly earnings results on Friday, April 25th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $4.92 billion. During the same period in the previous year, the firm posted $0.86 earnings per share. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. Research analysts forecast that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.23%. Colgate-Palmolive’s dividend payout ratio is presently 58.76%.

Colgate-Palmolive declared that its board has approved a stock buyback plan on Thursday, March 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to purchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Colgate-Palmolive Profile

(Free Report)

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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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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