Colgate-Palmolive (NYSE:CL) Shares Sold by Revolve Wealth Partners LLC

Revolve Wealth Partners LLC trimmed its stake in Colgate-Palmolive (NYSE:CL) by 2.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,968 shares of the company’s stock after selling 710 shares during the quarter. Revolve Wealth Partners LLC’s holdings in Colgate-Palmolive were worth $2,340,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CL. Vanguard Group Inc. boosted its position in shares of Colgate-Palmolive by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 81,303,059 shares of the company’s stock worth $7,391,261,000 after buying an additional 588,230 shares during the period. Geode Capital Management LLC raised its stake in Colgate-Palmolive by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 20,518,014 shares of the company’s stock valued at $1,868,723,000 after buying an additional 324,683 shares in the last quarter. Norges Bank acquired a new stake in Colgate-Palmolive during the fourth quarter valued at approximately $912,375,000. Northern Trust Corp raised its position in shares of Colgate-Palmolive by 11.7% during the 4th quarter. Northern Trust Corp now owns 9,497,819 shares of the company’s stock worth $863,447,000 after purchasing an additional 993,328 shares during the period. Finally, Amundi raised its position in shares of Colgate-Palmolive by 12.8% during the 4th quarter. Amundi now owns 9,200,144 shares of the company’s stock worth $806,015,000 after purchasing an additional 1,040,604 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CL has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their price objective on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “underweight” rating in a report on Wednesday, April 2nd. UBS Group increased their price target on Colgate-Palmolive from $105.00 to $109.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Wall Street Zen lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th. Piper Sandler reduced their target price on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating for the company in a report on Monday, March 31st. Finally, JPMorgan Chase & Co. increased their target price on Colgate-Palmolive from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $102.12.

Colgate-Palmolive Stock Up 0.0%

Colgate-Palmolive stock opened at $90.18 on Friday. The stock has a market cap of $73.08 billion, a P/E ratio of 25.62, a P/E/G ratio of 4.20 and a beta of 0.38. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30. The company’s 50-day moving average price is $91.77 and its two-hundred day moving average price is $91.17.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, beating 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 14.38% and a return on equity of 477.77%. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 earnings per share. As a group, analysts expect that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Thursday, April 17th. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s payout ratio is presently 58.76%.

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

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.