Spirepoint Private Client LLC Trims Stake in Colgate-Palmolive Company (NYSE:CL)

Spirepoint Private Client LLC cut its position in shares of Colgate-Palmolive Company (NYSE:CL) by 2.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,121 shares of the company’s stock after selling 245 shares during the period. Spirepoint Private Client LLC’s holdings in Colgate-Palmolive were worth $1,042,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Colgate-Palmolive by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 81,303,059 shares of the company’s stock valued at $7,391,261,000 after acquiring an additional 588,230 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Colgate-Palmolive by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 20,518,014 shares of the company’s stock valued at $1,868,723,000 after purchasing an additional 324,683 shares in the last quarter. Norges Bank purchased a new stake in shares of Colgate-Palmolive in the 4th quarter worth approximately $912,375,000. Northern Trust Corp boosted its stake in shares of Colgate-Palmolive by 11.7% during the fourth quarter. Northern Trust Corp now owns 9,497,819 shares of the company’s stock valued at $863,447,000 after purchasing an additional 993,328 shares in the last quarter. Finally, Amundi boosted its stake in shares of Colgate-Palmolive by 12.8% during the fourth quarter. Amundi now owns 9,200,144 shares of the company’s stock valued at $806,015,000 after purchasing an additional 1,040,604 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Up 1.0%

Colgate-Palmolive stock opened at $88.69 on Tuesday. Colgate-Palmolive Company has a 52 week low of $85.32 and a 52 week high of $109.30. The stock has a 50-day moving average price of $91.38 and a 200 day moving average price of $90.71. 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 capitalization of $71.88 billion, a price-to-earnings ratio of 25.05, a price-to-earnings-growth ratio of 4.66 and a beta of 0.38.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, April 25th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.86 by $0.05. The business had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.92 billion. Colgate-Palmolive had a net margin of 14.52% and a return on equity of 461.04%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.86 EPS. Sell-side analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed 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 dividend yield of 2.35%. Colgate-Palmolive’s payout ratio is currently 58.76%.

Colgate-Palmolive announced that its board has approved a stock repurchase program on Thursday, March 20th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have commented on CL. Wall Street Zen downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. Wells Fargo & Company boosted their price objective on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. raised their target price 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. UBS Group lifted 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. Finally, Citigroup increased their price objective on Colgate-Palmolive from $103.00 to $108.00 and gave the company a “buy” rating in a report on Monday, April 28th. One research 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 stock has an average rating of “Hold” and a consensus target price of $102.12.

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.