NewEdge Advisors LLC Has $37.74 Million Stock Holdings in Colgate-Palmolive (NYSE:CL)

NewEdge Advisors LLC grew its holdings in Colgate-Palmolive (NYSE:CL) by 490.4% in the 4th quarter, Holdings Channel reports. The fund owned 415,168 shares of the company’s stock after purchasing an additional 344,845 shares during the quarter. NewEdge Advisors LLC’s holdings in Colgate-Palmolive were worth $37,743,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CL shares. TD Cowen dropped their price objective on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $101.00 price target on shares of Colgate-Palmolive in a research report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their price objective on Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Raymond James reissued an “outperform” rating and issued a $105.00 target price (down from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. Finally, Piper Sandler decreased their price target on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a research note on Monday, March 31st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $101.67.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $94.31 on Wednesday. Colgate-Palmolive has a 12-month low of $85.32 and a 12-month high of $109.30. The stock has a 50-day simple moving average of $90.82 and a 200 day simple moving average of $92.53. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40. The stock has a market capitalization of $76.49 billion, a price-to-earnings ratio of 26.79, a P/E/G ratio of 4.20 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping 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 quarter last year, the business earned $0.87 EPS. On average, research analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th will be paid a $0.52 dividend. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Thursday, April 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is 59.09%.

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