Adero Partners LLC Acquires 864 Shares of Colgate-Palmolive (NYSE:CL)

Adero Partners LLC increased its holdings in shares of Colgate-Palmolive (NYSE:CL) by 28.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,871 shares of the company’s stock after acquiring an additional 864 shares during the quarter. Adero Partners LLC’s holdings in Colgate-Palmolive were worth $363,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of CL. Kohmann Bosshard Financial Services LLC bought a new position in Colgate-Palmolive in the 4th quarter valued at about $26,000. Centricity Wealth Management LLC bought a new position in Colgate-Palmolive in the 4th quarter valued at about $27,000. Vermillion Wealth Management Inc. bought a new position in Colgate-Palmolive in the 4th quarter valued at about $31,000. Union Bancaire Privee UBP SA bought a new position in Colgate-Palmolive in the 4th quarter valued at about $32,000. Finally, Briaud Financial Planning Inc bought a new position in Colgate-Palmolive in the 4th quarter valued at about $32,000. 80.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. UBS Group raised their price target on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. JPMorgan Chase & Co. raised their price target on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, April 28th. Wall Street Zen downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th. Barclays reduced their price target on shares of 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. Finally, Wells Fargo & Company lifted their target price 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. One research 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 MarketBeat.com, Colgate-Palmolive has a consensus rating of “Hold” and an average price target of $102.12.

Colgate-Palmolive Stock Down 3.2%

Colgate-Palmolive stock opened at $90.20 on Monday. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92. Colgate-Palmolive has a 52-week low of $85.32 and a 52-week high of $109.30. The firm has a 50 day moving average price of $91.75 and a two-hundred day moving average price of $90.99. The firm has a market cap of $73.10 billion, a price-to-earnings ratio of 25.63, a PEG ratio of 4.20 and a beta of 0.38.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data 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. The company had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.92 billion. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. Colgate-Palmolive’s revenue for the quarter 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. Equities analysts predict that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

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

Colgate-Palmolive announced that its Board of Directors has approved a share buyback plan on Thursday, March 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management 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.