Coastline Trust Co Has $1.73 Million Position in Colgate-Palmolive (NYSE:CL)

Coastline Trust Co trimmed its stake in Colgate-Palmolive (NYSE:CL) by 22.3% in the fourth quarter, HoldingsChannel reports. The firm owned 19,026 shares of the company’s stock after selling 5,458 shares during the period. Coastline Trust Co’s holdings in Colgate-Palmolive were worth $1,730,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new stake in Colgate-Palmolive in the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC acquired a new stake in Colgate-Palmolive in the 4th quarter valued at $27,000. Union Bancaire Privee UBP SA bought a new stake in Colgate-Palmolive during the 4th quarter valued at $32,000. Briaud Financial Planning Inc acquired a new position in Colgate-Palmolive during the fourth quarter worth $32,000. Finally, Wintrust Investments LLC acquired a new position in shares of Colgate-Palmolive during the fourth quarter valued at about $33,000. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

NYSE:CL opened at $95.49 on Friday. The firm has a market capitalization of $77.45 billion, a price-to-earnings ratio of 27.13, a P/E/G ratio of 4.20 and a beta of 0.40. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92. The stock has a fifty day moving average of $91.31 and a 200 day moving average of $92.43. Colgate-Palmolive has a 52-week low of $85.32 and a 52-week high of $109.30.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.01. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. During the same period in the prior year, the company earned $0.87 EPS. On average, research analysts expect that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be issued a dividend of $0.52 per share. The ex-dividend date is Thursday, April 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.18%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 59.09%.

Colgate-Palmolive declared that its board has initiated a stock repurchase program on Thursday, March 20th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

CL has been the topic of several recent research reports. Raymond James reaffirmed an “outperform” rating and issued a $105.00 price target (down previously from $110.00) on shares of Colgate-Palmolive in a research report on Monday, February 3rd. UBS Group lifted their target price on Colgate-Palmolive from $105.00 to $109.00 and gave the company a “buy” rating in a research report on Thursday. Barclays lowered their price target 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. Piper Sandler cut their price objective on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. Finally, StockNews.com lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $102.17.

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.