Daymark Wealth Partners LLC Has $2.17 Million Stake in Colgate-Palmolive Company (NYSE:CL)

Daymark Wealth Partners LLC decreased its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 2.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 23,105 shares of the company’s stock after selling 545 shares during the period. Daymark Wealth Partners LLC’s holdings in Colgate-Palmolive were worth $2,165,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC bought a new stake in Colgate-Palmolive during the 4th quarter valued at approximately $26,000. Vermillion Wealth Management Inc. bought a new stake in Colgate-Palmolive during the 4th quarter valued at approximately $31,000. Union Bancaire Privee UBP SA bought a new stake in Colgate-Palmolive during the 4th quarter valued at approximately $32,000. Briaud Financial Planning Inc bought a new stake in Colgate-Palmolive during the 4th quarter valued at approximately $32,000. Finally, Wintrust Investments LLC bought a new stake in shares of Colgate-Palmolive in the 4th quarter worth approximately $33,000. Institutional investors own 80.41% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on CL shares. Citigroup raised their price objective on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a “buy” rating in a research report on Monday, April 28th. UBS Group raised their price objective on Colgate-Palmolive from $105.00 to $109.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Wells Fargo & Company raised their price objective on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 2nd. Piper Sandler reduced their price objective on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating for the company in a research report on Monday, March 31st. Finally, Barclays reduced their price objective on Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating for the company in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Colgate-Palmolive has a consensus rating of “Hold” and an average price target of $101.69.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $87.80 on Thursday. The business has a 50 day simple moving average of $91.14 and a 200 day simple moving average of $90.67. Colgate-Palmolive Company has a one year low of $85.32 and a one year high of $109.30. The company has a market capitalization of $71.15 billion, a PE ratio of 24.80, a price-to-earnings-growth ratio of 4.68 and a beta of 0.38. 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 released its quarterly earnings results on Friday, April 25th. The company reported $0.91 earnings per share 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 during the quarter, compared to analysts’ expectations of $4.92 billion. During the same period last year, the firm posted $0.86 EPS. The business’s revenue was down 3.0% on a year-over-year basis. On average, sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive announced that its board has authorized a share buyback plan 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 shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Colgate-Palmolive Announces Dividend

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 issued 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 yield of 2.37%. Colgate-Palmolive’s dividend payout ratio is 58.76%.

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.