Colgate-Palmolive (NYSE:CL) Shares Purchased by Huntington National Bank

Huntington National Bank boosted its position in shares of Colgate-Palmolive (NYSE:CL) by 3.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 178,640 shares of the company’s stock after acquiring an additional 5,811 shares during the quarter. Huntington National Bank’s holdings in Colgate-Palmolive were worth $16,240,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

CL has been the topic of a number of analyst reports. StockNews.com cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th. 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. Raymond James reissued an “outperform” rating and set a $105.00 price target (down previously from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. JPMorgan Chase & Co. upped their price objective on shares of Colgate-Palmolive from $97.00 to $99.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Finally, Wells Fargo & Company lifted their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an “underweight” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $102.06.

Colgate-Palmolive Stock Down 0.3 %

NYSE:CL opened at $93.65 on Thursday. The firm has a market capitalization of $75.96 billion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a 52 week low of $85.32 and a 52 week high of $109.30. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. The stock has a 50 day moving average of $90.03 and a 200-day moving average of $93.36.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the prior year, the business earned $0.87 earnings per share. Analysts predict that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $2.08 annualized dividend and a yield of 2.22%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s payout ratio is presently 59.09%.

Colgate-Palmolive announced that its Board of Directors has approved a stock buyback program on Thursday, March 20th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 6.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Colgate-Palmolive Company 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.