Koesten Hirschmann & Crabtree INC. Has $390,000 Position in Colgate-Palmolive Company (NYSE:CL)

Koesten Hirschmann & Crabtree INC. lessened its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 19.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 4,159 shares of the company’s stock after selling 1,000 shares during the period. Colgate-Palmolive accounts for 0.2% of Koesten Hirschmann & Crabtree INC.’s portfolio, making the stock its 21st largest position. Koesten Hirschmann & Crabtree INC.’s holdings in Colgate-Palmolive were worth $390,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Cornerstone Wealth Group LLC raised its position in shares of Colgate-Palmolive by 5.0% in the 1st quarter. Cornerstone Wealth Group LLC now owns 44,085 shares of the company’s stock valued at $4,131,000 after acquiring an additional 2,115 shares during the period. Retirement Guys Formula LLC increased its stake in Colgate-Palmolive by 24.3% in the first quarter. Retirement Guys Formula LLC now owns 10,521 shares of the company’s stock valued at $986,000 after purchasing an additional 2,058 shares in the last quarter. Ledyard National Bank boosted its position in shares of Colgate-Palmolive by 4.5% during the first quarter. Ledyard National Bank now owns 3,094 shares of the company’s stock worth $290,000 after purchasing an additional 134 shares in the last quarter. FORM Wealth Advisors LLC bought a new position in shares of Colgate-Palmolive during the first quarter worth $359,000. Finally, Legacy Advisors LLC increased its position in shares of Colgate-Palmolive by 24.3% in the 1st quarter. Legacy Advisors LLC now owns 3,371 shares of the company’s stock valued at $316,000 after buying an additional 659 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Trading Down 0.5%

Shares of Colgate-Palmolive stock opened at $88.23 on Wednesday. The stock has a market cap of $71.50 billion, a P/E ratio of 24.92, a P/E/G ratio of 4.71 and a beta of 0.38. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 8.96. Colgate-Palmolive Company has a 12-month low of $85.32 and a 12-month high of $109.30. The business’s 50 day moving average is $91.26 and its 200-day moving average is $90.69.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate 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 posted $0.86 earnings per share. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. Equities research analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently declared 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 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 dividend payout ratio (DPR) is presently 58.76%.

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CL. Barclays reduced their target price on Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating on the stock in a report on Friday, April 11th. Piper Sandler cut their price objective on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. Wells Fargo & Company increased their target price on 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. lifted their price target 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, UBS Group increased their price objective on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $101.69.

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.