Walter & Keenan Wealth Management LLC IN ADV Takes $224,000 Position in Colgate-Palmolive Company (NYSE:CL)

Walter & Keenan Wealth Management LLC IN ADV purchased a new stake in Colgate-Palmolive Company (NYSE:CL) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,393 shares of the company’s stock, valued at approximately $224,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new position in Colgate-Palmolive during the fourth quarter worth $26,000. Centricity Wealth Management LLC acquired a new position in Colgate-Palmolive during the fourth quarter worth $27,000. Vermillion Wealth Management Inc. acquired a new position in Colgate-Palmolive during the fourth quarter worth $31,000. Union Bancaire Privee UBP SA acquired a new position in Colgate-Palmolive during the fourth quarter worth $32,000. Finally, Briaud Financial Planning Inc acquired a new position in Colgate-Palmolive during the fourth quarter worth $32,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of CL opened at $88.08 on Friday. The firm has a market capitalization of $71.38 billion, a PE ratio of 24.88, a PEG ratio of 4.68 and a beta of 0.38. The company’s 50-day moving average is $91.63 and its 200-day moving average is $90.85. Colgate-Palmolive Company has a fifty-two week low of $85.32 and a fifty-two week high of $109.30. The company has a debt-to-equity ratio of 8.96, a current ratio of 0.85 and a quick ratio of 0.54.

Colgate-Palmolive (NYSE:CL) last issued 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 for the quarter, compared to analyst estimates of $4.92 billion. Colgate-Palmolive had a net margin of 14.52% and a return on equity of 461.04%. The company’s revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 earnings per share. Equities analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive declared that its board has approved a stock buyback plan on Thursday, March 20th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be paid a $0.52 dividend. The ex-dividend date is Friday, July 18th. This represents a $2.08 annualized dividend and a dividend yield of 2.36%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 58.76%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CL. Wells Fargo & Company increased their target price on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “underweight” rating in a report on Wednesday, April 2nd. UBS Group increased their target price 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. JPMorgan Chase & Co. increased their target price on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. Wall Street Zen lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th. Finally, Citigroup upped their price target on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the stock a “buy” rating in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, ten have issued 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 a consensus price target of $102.12.

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.