Leo Wealth LLC Lowers Holdings in Colgate-Palmolive Company (NYSE:CL)

Leo Wealth LLC trimmed its holdings in Colgate-Palmolive Company (NYSE:CL) by 30.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,313 shares of the company’s stock after selling 4,145 shares during the quarter. Leo Wealth LLC’s holdings in Colgate-Palmolive were worth $873,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CL. Brighton Jones LLC boosted its stake in shares of Colgate-Palmolive by 4.4% during the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock worth $962,000 after acquiring an additional 450 shares in the last quarter. Bernard Wealth Management Corp. purchased a new stake in shares of Colgate-Palmolive during the 4th quarter worth about $36,000. Proficio Capital Partners LLC purchased a new stake in shares of Colgate-Palmolive during the 4th quarter worth about $186,000. Choate Investment Advisors boosted its stake in shares of Colgate-Palmolive by 4.0% during the 4th quarter. Choate Investment Advisors now owns 9,007 shares of the company’s stock worth $819,000 after acquiring an additional 350 shares in the last quarter. Finally, one8zero8 LLC purchased a new stake in shares of Colgate-Palmolive during the 4th quarter worth about $300,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CL has been the subject of several research analyst reports. Citigroup upped their price target on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the stock a “buy” rating in a research report on Monday, April 28th. Wall Street Zen downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th. Barclays cut their price objective 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. Wells Fargo & Company increased their price objective on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an “underweight” rating in a report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $101.13.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $89.60 on Monday. The company has a debt-to-equity ratio of 8.96, a quick ratio of 0.54 and a current ratio of 0.85. The stock has a market capitalization of $72.61 billion, a P/E ratio of 25.31, a PEG ratio of 4.74 and a beta of 0.37. The company has a 50 day moving average price of $90.63 and a 200 day moving average price of $90.49. Colgate-Palmolive Company has a fifty-two week low of $85.32 and a fifty-two week high of $109.30.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, April 25th. The company reported $0.91 EPS for the quarter, beating 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 company had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.92 billion. During the same quarter last year, the company posted $0.86 EPS. The firm’s revenue was down 3.0% compared to the same quarter last year. Equities research analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive announced that its Board of Directors has authorized a share buyback plan on Thursday, March 20th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.32%. Colgate-Palmolive’s payout ratio is 58.76%.

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.