Parsons Capital Management Inc. RI Has $1.40 Million Stock Holdings in Colgate-Palmolive (NYSE:CL)

Parsons Capital Management Inc. RI decreased its holdings in Colgate-Palmolive (NYSE:CL) by 4.0% during the 1st quarter, HoldingsChannel reports. The firm owned 14,905 shares of the company’s stock after selling 616 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Colgate-Palmolive were worth $1,397,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CL. Brighton Jones LLC increased its stake in shares of Colgate-Palmolive by 4.4% in the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after purchasing an additional 450 shares during the last quarter. Bernard Wealth Management Corp. bought a new position in shares of Colgate-Palmolive in the 4th quarter valued at $36,000. Stephens Inc. AR increased its stake in shares of Colgate-Palmolive by 21.4% in the 4th quarter. Stephens Inc. AR now owns 14,506 shares of the company’s stock valued at $1,319,000 after purchasing an additional 2,555 shares during the last quarter. Savant Capital LLC increased its stake in shares of Colgate-Palmolive by 4.0% in the 4th quarter. Savant Capital LLC now owns 42,856 shares of the company’s stock valued at $3,896,000 after purchasing an additional 1,631 shares during the last quarter. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Colgate-Palmolive in the 4th quarter valued at $87,000. Institutional investors own 80.41% of the company’s stock.

Analysts Set New Price Targets

CL has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price target on Colgate-Palmolive from $83.00 to $88.00 and gave the company an “underweight” rating in a research note on Wednesday, April 2nd. Citigroup boosted their price objective on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a “buy” rating in a research report on Monday, April 28th. JPMorgan Chase & Co. boosted their price objective on Colgate-Palmolive from $95.00 to $103.00 and gave the stock an “overweight” rating in a research report on Monday, April 28th. 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 boosted 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $102.12.

Colgate-Palmolive Stock Up 1.2%

Shares of Colgate-Palmolive stock opened at $91.92 on Wednesday. Colgate-Palmolive has a one year low of $85.32 and a one 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. The stock’s 50-day moving average is $91.63 and its 200 day moving average is $91.13. The firm has a market cap of $74.49 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 4.20 and a beta of 0.38.

Colgate-Palmolive (NYSE:CL) last announced 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 company had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.86 EPS. Equities research analysts anticipate that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th were paid a $0.52 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.26%. 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 repurchase plan on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is 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.