Daymark Wealth Partners LLC Sells 545 Shares of Colgate-Palmolive (NYSE:CL)

Daymark Wealth Partners LLC reduced its stake in Colgate-Palmolive (NYSE:CL) by 2.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,105 shares of the company’s stock after selling 545 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Colgate-Palmolive were worth $2,165,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Colgate-Palmolive during the fourth quarter worth approximately $912,375,000. Diamond Hill Capital Management Inc. bought a new position in Colgate-Palmolive during the 4th quarter worth $348,718,000. AMF Tjanstepension AB increased its position in Colgate-Palmolive by 1,088.8% during the 4th quarter. AMF Tjanstepension AB now owns 2,569,394 shares of the company’s stock worth $233,584,000 after buying an additional 2,353,268 shares during the period. Deutsche Bank AG increased its position in Colgate-Palmolive by 35.6% during the 4th quarter. Deutsche Bank AG now owns 6,922,994 shares of the company’s stock worth $629,369,000 after buying an additional 1,816,865 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Colgate-Palmolive during the fourth quarter worth about $132,405,000. 80.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CL. Wells Fargo & Company raised their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 2nd. UBS Group raised their target price on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Barclays lowered their price objective on 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. JPMorgan Chase & Co. raised their price objective on Colgate-Palmolive from $95.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, April 28th. Finally, Piper Sandler decreased their target price on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Colgate-Palmolive has an average rating of “Hold” and a consensus price target of $102.12.

Colgate-Palmolive Trading Up 0.8%

Shares of Colgate-Palmolive stock opened at $90.94 on Tuesday. The firm’s 50 day moving average is $91.71 and its 200 day moving average is $91.12. The firm has a market capitalization of $73.70 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 4.20 and a beta of 0.38. Colgate-Palmolive has a 1 year low of $85.32 and a 1 year high of $109.30. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40.

Colgate-Palmolive (NYSE:CL) last posted its 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 firm had revenue of $4.91 billion for the quarter, compared to analysts’ expectations of $4.92 billion. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. The company’s revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 earnings per share. Equities research analysts forecast that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 17th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.29%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s payout ratio is currently 58.76%.

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

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.