Wood Tarver Financial Group LLC Acquires New Shares in Colgate-Palmolive (NYSE:CL)

Wood Tarver Financial Group LLC acquired a new stake in Colgate-Palmolive (NYSE:CL) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 529 shares of the company’s stock, valued at approximately $48,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC bought a new stake in Colgate-Palmolive in the fourth quarter valued at about $26,000. Centricity Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth about $27,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth about $31,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth about $32,000. Finally, Briaud Financial Planning Inc acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth about $32,000. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 0.8%

CL stock opened at $91.72 on Thursday. 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 business has a 50 day moving average price of $91.93 and a two-hundred day moving average price of $91.26. The company has a market cap of $74.33 billion, a price-to-earnings ratio of 26.06, a P/E/G ratio of 4.20 and a beta of 0.39. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30.

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

Colgate-Palmolive declared that its Board of Directors has approved a stock buyback program on Thursday, March 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to repurchase up to 6.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th were paid a dividend of $0.52 per share. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend was Thursday, April 17th. Colgate-Palmolive’s payout ratio is currently 58.76%.

Analyst Upgrades and Downgrades

CL has been the topic of a number of research analyst reports. Wells Fargo & Company raised their price target on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 2nd. Piper Sandler dropped their price target on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. JPMorgan Chase & Co. raised their price target on Colgate-Palmolive from $95.00 to $103.00 and gave the stock an “overweight” rating in a research report on Monday, April 28th. UBS Group raised their price target on Colgate-Palmolive from $105.00 to $109.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Finally, Stifel Nicolaus dropped their price target on Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating on the stock in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $102.12.

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.