Colgate-Palmolive Company (NYSE:CL) Shares Sold by Evanson Asset Management LLC

Evanson Asset Management LLC lessened its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 67.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,968 shares of the company’s stock after selling 6,184 shares during the quarter. Evanson Asset Management LLC’s holdings in Colgate-Palmolive were worth $278,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Colgate-Palmolive during the 4th quarter valued at about $912,375,000. Diamond Hill Capital Management Inc. acquired a new position in shares of Colgate-Palmolive during the 4th quarter valued at about $348,718,000. AMF Tjanstepension AB boosted its position in shares of Colgate-Palmolive by 1,088.8% during the 4th quarter. AMF Tjanstepension AB now owns 2,569,394 shares of the company’s stock valued at $233,584,000 after acquiring an additional 2,353,268 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Colgate-Palmolive by 35.6% during the 4th quarter. Deutsche Bank AG now owns 6,922,994 shares of the company’s stock valued at $629,369,000 after acquiring an additional 1,816,865 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Colgate-Palmolive during the 4th quarter valued at about $132,405,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 0.4%

Shares of NYSE:CL opened at $87.85 on Friday. The company has a debt-to-equity ratio of 8.96, a current ratio of 0.85 and a quick ratio of 0.54. The firm has a market capitalization of $71.19 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 4.68 and a beta of 0.38. The firm’s 50-day moving average is $91.50 and its two-hundred day moving average is $90.80. Colgate-Palmolive Company has a 1 year low of $85.32 and a 1 year high of $109.30.

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

Colgate-Palmolive announced that its board has authorized a share buyback program on Thursday, March 20th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 6.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.37%. Colgate-Palmolive’s payout ratio is 58.76%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Piper Sandler reduced their price objective 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 boosted their price objective on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the company a “buy” rating in a report on Thursday, April 17th. Wells Fargo & Company boosted their price objective on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an “underweight” rating in a report on Wednesday, April 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, April 28th. Finally, Barclays reduced 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 report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Colgate-Palmolive presently has an average rating of “Hold” and an average target price 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.