Robertson Stephens Wealth Management LLC Sells 1,424 Shares of Colgate-Palmolive Company (NYSE:CL)

Robertson Stephens Wealth Management LLC lessened its position in Colgate-Palmolive Company (NYSE:CL) by 35.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,577 shares of the company’s stock after selling 1,424 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Colgate-Palmolive were worth $241,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in Colgate-Palmolive by 4.4% during the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after purchasing an additional 450 shares during the last quarter. Bernard Wealth Management Corp. bought a new position in shares of Colgate-Palmolive in the fourth quarter valued at about $36,000. Principal Securities Inc. lifted its stake in shares of Colgate-Palmolive by 21.1% during the 4th quarter. Principal Securities Inc. now owns 10,322 shares of the company’s stock worth $938,000 after buying an additional 1,800 shares during the last quarter. Bank of Jackson Hole Trust bought a new stake in shares of Colgate-Palmolive during the 4th quarter worth about $89,000. Finally, Atlas Legacy Advisors LLC acquired a new position in Colgate-Palmolive in the 4th quarter valued at about $311,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Trading Down 0.6%

Shares of Colgate-Palmolive stock opened at $88.08 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 8.96. Colgate-Palmolive Company has a 12-month low of $85.32 and a 12-month high of $109.30. The company has a market capitalization of $71.38 billion, a price-to-earnings ratio of 24.88, a PEG ratio of 4.68 and a beta of 0.38. The firm’s 50-day moving average price is $91.63 and its two-hundred day moving average price is $90.85.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The company had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.92 billion. Colgate-Palmolive had a net margin of 14.52% and a return on equity of 461.04%. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.86 EPS. On average, analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

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

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive’s dividend payout ratio is presently 58.76%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Piper Sandler reduced their price objective on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating for the company in a report on Monday, March 31st. Wells Fargo & Company boosted their price target on Colgate-Palmolive from $83.00 to $88.00 and gave the company an “underweight” rating in a research note on Wednesday, April 2nd. Wall Street Zen cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th. Citigroup lifted their target price on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a “buy” rating in a report on Monday, April 28th. Finally, Barclays decreased their price target on shares of Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating on the stock in a research note 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price 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.