Pacific Point Advisors LLC Purchases Shares of 14,836 Colgate-Palmolive (NYSE:CL)

Pacific Point Advisors LLC purchased a new stake in shares of Colgate-Palmolive (NYSE:CL) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 14,836 shares of the company’s stock, valued at approximately $1,283,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CL. Axxcess Wealth Management LLC lifted its holdings in shares of Colgate-Palmolive by 0.3% during the fourth quarter. Axxcess Wealth Management LLC now owns 38,786 shares of the company’s stock valued at $3,526,000 after acquiring an additional 117 shares during the period. Commonwealth Financial Services LLC lifted its holdings in shares of Colgate-Palmolive by 4.5% during the fourth quarter. Commonwealth Financial Services LLC now owns 2,716 shares of the company’s stock valued at $247,000 after acquiring an additional 118 shares during the period. Wescott Financial Advisory Group LLC lifted its holdings in shares of Colgate-Palmolive by 3.5% during the fourth quarter. Wescott Financial Advisory Group LLC now owns 3,517 shares of the company’s stock valued at $320,000 after acquiring an additional 119 shares during the period. D Orazio & Associates Inc. lifted its holdings in shares of Colgate-Palmolive by 4.2% during the fourth quarter. D Orazio & Associates Inc. now owns 2,982 shares of the company’s stock valued at $271,000 after acquiring an additional 120 shares during the period. Finally, Lantz Financial LLC raised its holdings in shares of Colgate-Palmolive by 0.6% in the fourth quarter. Lantz Financial LLC now owns 20,140 shares of the company’s stock valued at $1,831,000 after buying an additional 122 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analysts Set New Price Targets

CL has been the subject of a number of research analyst reports. Barclays cut their price target on Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. Piper Sandler cut their price target on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating for the company in a report on Monday, March 31st. Stifel Nicolaus cut their price target on Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating for the company in a report on Monday, February 3rd. Wall Street Zen lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th. Finally, UBS Group lifted their price objective on Colgate-Palmolive from $105.00 to $109.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Colgate-Palmolive presently has an average rating of “Hold” and an average price target of $102.12.

Colgate-Palmolive Trading Down 0.9%

NYSE:CL opened at $90.84 on Friday. Colgate-Palmolive has a fifty-two week low of $85.32 and a fifty-two week 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. The stock has a market capitalization of $73.62 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 4.20 and a beta of 0.39. The business’s 50-day simple moving average is $91.75 and its 200-day simple moving average is $91.25.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, April 25th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.86 by $0.05. The firm had revenue of $4.91 billion for the quarter, compared to analysts’ expectations of $4.92 billion. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.86 EPS. Sell-side analysts expect that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive announced that its Board of Directors has initiated a share 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 reacquire up to 6.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th were paid a $0.52 dividend. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $2.08 annualized dividend and a yield of 2.29%. Colgate-Palmolive’s payout ratio is presently 58.76%.

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.