Smith Moore & CO. Sells 2,666 Shares of Colgate-Palmolive (NYSE:CL)

Smith Moore & CO. cut its stake in Colgate-Palmolive (NYSE:CL) by 17.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,522 shares of the company’s stock after selling 2,666 shares during the period. Smith Moore & CO.’s holdings in Colgate-Palmolive were worth $1,138,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Kohmann Bosshard Financial Services LLC bought a new position in Colgate-Palmolive in the 4th quarter worth about $26,000. Centricity Wealth Management LLC bought a new position in Colgate-Palmolive in the fourth quarter worth approximately $27,000. Union Bancaire Privee UBP SA purchased a new position in Colgate-Palmolive during the 4th quarter worth $32,000. Briaud Financial Planning Inc bought a new stake in Colgate-Palmolive during the 4th quarter valued at $32,000. Finally, Wintrust Investments LLC purchased a new stake in shares of Colgate-Palmolive in the 4th quarter worth $33,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $91.75 on Friday. Colgate-Palmolive has a 52 week low of $85.32 and a 52 week high of $109.30. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40. The firm has a market cap of $74.41 billion, a P/E ratio of 26.06, a P/E/G ratio of 4.20 and a beta of 0.40. The business’s 50 day moving average price is $90.27 and its 200 day moving average price is $93.28.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.01. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. During the same period last year, the company earned $0.87 EPS. On average, sell-side analysts expect that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.27%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 59.09%.

Colgate-Palmolive announced that its board has approved a stock repurchase program on Thursday, March 20th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Colgate-Palmolive from $97.00 to $99.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Raymond James reaffirmed an “outperform” rating and issued a $105.00 price target (down previously from $110.00) on shares of Colgate-Palmolive in a research report on Monday, February 3rd. TD Cowen decreased their price objective on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company increased their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an “underweight” rating in a research report on Wednesday. Finally, Piper Sandler cut their price objective 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. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $102.06.

Colgate-Palmolive Company 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.