GeoWealth Management LLC Trims Position in Colgate-Palmolive (NYSE:CL)

GeoWealth Management LLC lessened its holdings in shares of Colgate-Palmolive (NYSE:CL) by 21.1% in the 4th quarter, HoldingsChannel reports. The firm owned 5,192 shares of the company’s stock after selling 1,389 shares during the quarter. GeoWealth Management LLC’s holdings in Colgate-Palmolive were worth $472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

Several brokerages have commented on CL. TD Cowen dropped their price objective on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Barclays dropped their target price on shares of Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. Piper Sandler cut their price objective on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating for the company in a research note on Monday, March 31st. Morgan Stanley lowered their price target on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. decreased their price objective on Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Colgate-Palmolive has an average rating of “Hold” and an average target price of $102.17.

Colgate-Palmolive Trading Down 0.8 %

Shares of CL stock opened at $94.73 on Tuesday. The company has a 50-day moving average of $91.47 and a two-hundred day moving average of $92.28. The firm has a market cap of $76.83 billion, a PE ratio of 26.91, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a 1-year low of $85.32 and a 1-year high of $109.30. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate 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 in the prior year, the firm posted $0.87 earnings per share. On average, analysts predict that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be paid a dividend of $0.52 per share. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, April 17th. This represents a $2.08 annualized dividend and a yield of 2.20%. Colgate-Palmolive’s dividend payout ratio is presently 59.09%.

Colgate-Palmolive declared that its board has authorized a stock repurchase plan on Thursday, March 20th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to repurchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors 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.