Hennessy Advisors Inc. Purchases Shares of 61,700 Colgate-Palmolive (NYSE:CL)

Hennessy Advisors Inc. purchased a new stake in Colgate-Palmolive (NYSE:CL) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 61,700 shares of the company’s stock, valued at approximately $5,781,000.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Colgate-Palmolive by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 81,303,059 shares of the company’s stock valued at $7,391,261,000 after purchasing an additional 588,230 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Colgate-Palmolive by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 20,518,014 shares of the company’s stock worth $1,868,723,000 after acquiring an additional 324,683 shares in the last quarter. Norges Bank acquired a new stake in shares of Colgate-Palmolive during the 4th quarter worth about $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 acquiring an additional 993,328 shares in the last quarter. 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 acquiring an additional 1,040,604 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Piper Sandler cut their target price on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. Wall Street Zen lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th. Citigroup raised their target price on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a “buy” rating in a research report on Monday, April 28th. UBS Group raised their target price on Colgate-Palmolive from $105.00 to $109.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Finally, Wells Fargo & Company raised their price target on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Colgate-Palmolive currently has an average rating of “Hold” and an average target price of $102.12.

Colgate-Palmolive Trading Down 3.2%

Shares of CL stock opened at $90.20 on Friday. The business’s 50 day moving average is $91.75 and its two-hundred day moving average is $91.03. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30. The company has a market capitalization of $73.10 billion, a P/E ratio of 25.63, a price-to-earnings-growth ratio of 4.20 and a beta of 0.38. 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 announced its earnings results on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. The company had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.92 billion. During the same period last year, the business posted $0.86 EPS. The company’s revenue was down 3.0% on a year-over-year basis. Equities analysts forecast that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive declared that its Board of Directors has authorized a stock repurchase plan on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.08 annualized dividend and a dividend yield of 2.31%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 58.76%.

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.