Grimes & Company Inc. Sells 126 Shares of Colgate-Palmolive Company (NYSE:CL)

Grimes & Company Inc. lowered its position in Colgate-Palmolive Company (NYSE:CL) by 1.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 12,377 shares of the company’s stock after selling 126 shares during the period. Grimes & Company Inc.’s holdings in Colgate-Palmolive were worth $1,160,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. QRG Capital Management Inc. grew its stake in shares of Colgate-Palmolive by 4.9% during the first quarter. QRG Capital Management Inc. now owns 69,037 shares of the company’s stock valued at $6,469,000 after buying an additional 3,201 shares during the last quarter. Sagespring Wealth Partners LLC lifted its stake in shares of Colgate-Palmolive by 10.7% in the 1st quarter. Sagespring Wealth Partners LLC now owns 7,611 shares of the company’s stock valued at $713,000 after acquiring an additional 737 shares during the last quarter. Adero Partners LLC grew its position in Colgate-Palmolive by 28.7% during the 1st quarter. Adero Partners LLC now owns 3,871 shares of the company’s stock worth $363,000 after acquiring an additional 864 shares during the last quarter. Sowell Financial Services LLC bought a new position in Colgate-Palmolive during the 1st quarter worth approximately $501,000. Finally, Montecito Bank & Trust lifted its position in Colgate-Palmolive by 5.5% in the first quarter. Montecito Bank & Trust now owns 13,001 shares of the company’s stock valued at $1,218,000 after purchasing an additional 681 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Piper Sandler cut 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. UBS Group raised their price target 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 decreased their price objective on shares of Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. JPMorgan Chase & Co. upped their price objective 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. Finally, Wall Street Zen cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $102.12.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $88.66 on Wednesday. Colgate-Palmolive Company has a fifty-two week low of $85.32 and a fifty-two week high of $109.30. The stock’s 50 day simple moving average is $91.75 and its two-hundred day simple moving average is $90.93. The company has a debt-to-equity ratio of 8.96, a quick ratio of 0.54 and a current ratio of 0.85. The stock has a market cap of $71.85 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 4.79 and a beta of 0.38.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, April 25th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. Colgate-Palmolive had a return on equity of 461.04% and a net margin of 14.52%. The company had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.92 billion. During the same quarter last year, the business posted $0.86 EPS. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.35%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive’s dividend payout ratio is currently 58.76%.

Colgate-Palmolive announced that its board has approved a stock 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 buy up to 6.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

About Colgate-Palmolive

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.