Whittier Trust Co. Has $3.39 Million Stock Position in Colgate-Palmolive Company (NYSE:CL)

Whittier Trust Co. lowered its stake in Colgate-Palmolive Company (NYSE:CL) by 4.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 36,223 shares of the company’s stock after selling 1,746 shares during the period. Whittier Trust Co.’s holdings in Colgate-Palmolive were worth $3,394,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its stake in shares of Colgate-Palmolive by 4.4% during the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after acquiring an additional 450 shares during the last quarter. Bernard Wealth Management Corp. bought a new position in shares of Colgate-Palmolive during the fourth quarter valued at $36,000. Proficio Capital Partners LLC bought a new position in Colgate-Palmolive during the fourth quarter worth $186,000. Flagship Wealth Advisors LLC bought a new position in Colgate-Palmolive during the fourth quarter worth $100,000. Finally, Axxcess Wealth Management LLC raised its stake in Colgate-Palmolive by 0.3% during the fourth quarter. Axxcess Wealth Management LLC now owns 38,786 shares of the company’s stock worth $3,526,000 after buying an additional 117 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Trading Down 0.8%

NYSE:CL opened at $88.14 on Wednesday. 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 stock has a market capitalization of $71.43 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 4.70 and a beta of 0.37. The firm has a fifty day simple moving average of $90.53 and a two-hundred day simple moving average of $90.46. Colgate-Palmolive Company has a 12 month low of $85.32 and a 12 month high of $109.30.

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

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive’s payout ratio is presently 58.76%.

Colgate-Palmolive announced that its board has approved a stock repurchase 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 shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CL. Piper Sandler lowered 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. Barclays lifted their target price on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Wells Fargo & Company lifted 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. Wall Street Zen downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th. Finally, Citigroup lifted their target price on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the stock a “buy” rating in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $101.20.

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.