Callan Capital LLC Purchases 740 Shares of Colgate-Palmolive Company (NYSE:CL)

Callan Capital LLC grew its stake in Colgate-Palmolive Company (NYSE:CL) by 31.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,086 shares of the company’s stock after acquiring an additional 740 shares during the period. Callan Capital LLC’s holdings in Colgate-Palmolive were worth $289,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. increased its stake in shares of Colgate-Palmolive by 24.6% in the first quarter. Envestnet Asset Management Inc. now owns 675,584 shares of the company’s stock worth $63,302,000 after acquiring an additional 133,327 shares during the period. Roffman Miller Associates Inc. PA lifted its stake in shares of Colgate-Palmolive by 31.6% in the first quarter. Roffman Miller Associates Inc. PA now owns 24,359 shares of the company’s stock worth $2,282,000 after buying an additional 5,845 shares in the last quarter. Penserra Capital Management LLC lifted its stake in shares of Colgate-Palmolive by 398.6% in the first quarter. Penserra Capital Management LLC now owns 10,651 shares of the company’s stock worth $997,000 after buying an additional 8,515 shares in the last quarter. Traveka Wealth LLC raised its stake in Colgate-Palmolive by 4.0% during the first quarter. Traveka Wealth LLC now owns 4,657 shares of the company’s stock worth $436,000 after purchasing an additional 178 shares during the period. Finally, Tradewinds LLC. raised its stake in Colgate-Palmolive by 3.3% during the first quarter. Tradewinds LLC. now owns 65,967 shares of the company’s stock worth $6,181,000 after purchasing an additional 2,136 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 1.2%

Shares of NYSE CL opened at $92.18 on Wednesday. Colgate-Palmolive Company has a 1 year low of $85.32 and a 1 year high of $109.30. The firm’s 50-day moving average is $90.66 and its 200-day moving average is $90.54. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 8.96. The firm has a market capitalization of $74.70 billion, a PE ratio of 26.04, a price-to-earnings-growth ratio of 4.96 and a beta of 0.37.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, April 25th. The company reported $0.91 earnings per share 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 business had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. During the same quarter last year, the firm earned $0.86 EPS. Colgate-Palmolive’s quarterly revenue was down 3.0% compared to the same quarter last year. Equities analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive announced that its Board of Directors has initiated a share buyback plan on Thursday, March 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

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 issued a $0.52 dividend. The ex-dividend date is Friday, July 18th. This represents a $2.08 annualized dividend and a dividend yield of 2.26%. Colgate-Palmolive’s dividend payout ratio is currently 58.76%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th. UBS Group boosted their price target on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Piper Sandler decreased their target price on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating for the company in a research note on Monday, March 31st. 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 research note on Wednesday, April 2nd. Finally, Barclays cut their price target on shares of Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating for the company 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 nine have given a buy rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Hold” and an average target price 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.