Johnson Investment Counsel Inc. Has $6.78 Million Stock Holdings in Colgate-Palmolive Company (NYSE:CL)

Johnson Investment Counsel Inc. grew its position in shares of Colgate-Palmolive Company (NYSE:CL) by 2.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,310 shares of the company’s stock after buying an additional 1,568 shares during the period. Johnson Investment Counsel Inc.’s holdings in Colgate-Palmolive were worth $6,775,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CL. Cornerstone Wealth Management LLC raised its stake in Colgate-Palmolive by 1.2% in the 1st quarter. Cornerstone Wealth Management LLC now owns 9,035 shares of the company’s stock worth $847,000 after purchasing an additional 110 shares in the last quarter. Axxcess Wealth Management LLC increased its holdings in shares of Colgate-Palmolive by 0.3% during the fourth quarter. Axxcess Wealth Management LLC now owns 38,786 shares of the company’s stock worth $3,526,000 after purchasing an additional 117 shares during the period. Wescott Financial Advisory Group LLC raised its position in shares of Colgate-Palmolive by 3.5% in the fourth quarter. Wescott Financial Advisory Group LLC now owns 3,517 shares of the company’s stock valued at $320,000 after buying an additional 119 shares in the last quarter. Aberdeen Wealth Management LLC grew its position in Colgate-Palmolive by 0.6% during the fourth quarter. Aberdeen Wealth Management LLC now owns 20,651 shares of the company’s stock worth $1,877,000 after buying an additional 125 shares in the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO increased its stake in Colgate-Palmolive by 4.0% during the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 3,388 shares of the company’s stock worth $317,000 after acquiring an additional 130 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Piper Sandler reduced their target price on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. Citigroup increased their price objective on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the stock a “buy” rating in a research note on Monday, April 28th. Wall Street Zen cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th. Barclays cut their price target on shares of Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. lifted 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. One 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $102.12.

Colgate-Palmolive Trading Down 0.6%

NYSE CL opened at $88.08 on Friday. Colgate-Palmolive Company has a twelve month low of $85.32 and a twelve month high of $109.30. The business’s fifty day moving average is $91.63 and its 200 day moving average is $90.85. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 8.96. The company has a market cap of $71.38 billion, a price-to-earnings ratio of 24.88, a price-to-earnings-growth ratio of 4.68 and a beta of 0.38.

Colgate-Palmolive (NYSE:CL) last announced its quarterly 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 firm had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. During the same period last year, the firm posted $0.86 earnings per share. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. As a group, sell-side analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive’s payout ratio is 58.76%.

Colgate-Palmolive announced that its board has authorized a share buyback plan on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership 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.