NorthCrest Asset Manangement LLC lifted its holdings in Colgate-Palmolive (NYSE:CL – Free Report) by 65.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,329 shares of the company’s stock after buying an additional 1,321 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Colgate-Palmolive were worth $312,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Kohmann Bosshard Financial Services LLC purchased a new position in Colgate-Palmolive during the fourth quarter worth about $26,000. Centricity Wealth Management LLC purchased a new position in Colgate-Palmolive during the fourth quarter worth about $27,000. Vermillion Wealth Management Inc. purchased a new position in Colgate-Palmolive during the fourth quarter worth about $31,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Colgate-Palmolive in the 4th quarter valued at approximately $32,000. Finally, Briaud Financial Planning Inc purchased a new stake in shares of Colgate-Palmolive in the 4th quarter valued at approximately $32,000. 80.41% of the stock is owned by hedge funds and other institutional investors.
Colgate-Palmolive Price Performance
NYSE:CL opened at $90.20 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. The firm has a fifty day simple moving average of $91.75 and a 200 day simple moving average of $90.99. Colgate-Palmolive has a 1-year low of $85.32 and a 1-year high of $109.30. The stock has a market capitalization of $73.10 billion, a PE ratio of 25.63, a P/E/G ratio of 4.20 and a beta of 0.38.
Colgate-Palmolive Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive’s dividend payout ratio is currently 58.76%.
Colgate-Palmolive announced that its Board of Directors has approved a stock buyback plan on Thursday, March 20th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to buy up to 6.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the company a “buy” rating in a report on Monday, April 28th. Piper Sandler reduced their price target 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 upped their price objective on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Wells Fargo & Company upped their price objective on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 2nd. Finally, Wall Street Zen cut shares of 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 assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $102.12.
Check Out Our Latest Research Report on CL
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.
See Also
- Five stocks we like better than Colgate-Palmolive
- Energy and Oil Stocks Explained
- RH Stock Rockets on Surprise Profit and Tariff Shift
- Breakout Stocks: What They Are and How to Identify Them
- Synopsys Stock Falls on China Ban, But Long-Term Outlook Holds
- What is diluted earnings per share (Diluted EPS)?
- Alphabet Enters a Bull Market: Is It Time to Buy?
Receive News & Ratings for Colgate-Palmolive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colgate-Palmolive and related companies with MarketBeat.com's FREE daily email newsletter.