Parallel Advisors LLC Lowers Stock Holdings in Colgate-Palmolive (NYSE:CL)

Parallel Advisors LLC lowered its holdings in shares of Colgate-Palmolive (NYSE:CL) by 1.3% during the first quarter, HoldingsChannel.com reports. The firm owned 88,371 shares of the company’s stock after selling 1,167 shares during the period. Parallel Advisors LLC’s holdings in Colgate-Palmolive were worth $8,280,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Colgate-Palmolive in the 4th quarter worth $26,000. Centricity Wealth Management LLC purchased a new position in Colgate-Palmolive during the 4th quarter valued at about $27,000. Vermillion Wealth Management Inc. purchased a new position in shares of Colgate-Palmolive in the 4th quarter valued at about $31,000. Union Bancaire Privee UBP SA purchased a new position in shares of Colgate-Palmolive in the 4th quarter valued at about $32,000. Finally, Briaud Financial Planning Inc purchased a new position in shares of Colgate-Palmolive in the 4th quarter valued at about $32,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on CL shares. Morgan Stanley cut their price target on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Wall Street Zen lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. upped their price objective on Colgate-Palmolive from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. Wells Fargo & Company boosted their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 2nd. Finally, Citigroup boosted their target price on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a “buy” rating in a research report on Monday, April 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $102.12.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $92.25 on Friday. The stock’s fifty day simple moving average is $91.95 and its 200 day simple moving average is $91.26. The company has a market capitalization of $74.76 billion, a PE ratio of 26.21, a PEG ratio of 4.20 and a beta of 0.39. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. Colgate-Palmolive has a 12 month low of $85.32 and a 12 month high of $109.30.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. The company had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.92 billion. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. Colgate-Palmolive’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 EPS. On average, research analysts predict that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th were given a dividend of $0.52 per share. The ex-dividend date was Thursday, April 17th. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 2.25%. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.76%.

Colgate-Palmolive declared that its Board of Directors has initiated a share repurchase 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 shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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.