First Financial Bank Trust Division trimmed its stake in shares of Colgate-Palmolive (NYSE:CL) by 24.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,790 shares of the company’s stock after selling 5,879 shares during the quarter. First Financial Bank Trust Division’s holdings in Colgate-Palmolive were worth $1,402,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Wolff Wiese Magana LLC bought a new position in shares of Colgate-Palmolive during the fourth quarter worth approximately $25,000. Grant Street Asset Management Inc. acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth $28,000. TRU Independence Asset Management 2 LLC bought a new stake in shares of Colgate-Palmolive in the fourth quarter valued at about $29,000. Encompass Wealth Advisors LLC bought a new position in Colgate-Palmolive during the fourth quarter worth about $29,000. Finally, Advisory Alpha LLC bought a new stake in Colgate-Palmolive in the 3rd quarter valued at about $28,000. 76.47% of the stock is currently owned by institutional investors.
Several equities research analysts recently issued reports on the company. Credit Suisse Group upgraded Colgate-Palmolive from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $70.00 to $80.00 in a research note on Monday, February 1st. Sanford C. Bernstein assumed coverage on Colgate-Palmolive in a report on Tuesday, January 19th. They set an “underperform” rating and a $77.00 target price on the stock. Berenberg Bank raised Colgate-Palmolive from a “sell” rating to a “hold” rating and set a $76.00 price target for the company in a research note on Tuesday, January 26th. Stifel Nicolaus downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $83.00 price objective on the stock. in a research note on Thursday, January 28th. Finally, Royal Bank of Canada cut shares of Colgate-Palmolive from an “outperform” rating to a “sector perform” rating and set a $90.00 target price for the company. in a research report on Monday, January 4th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. Colgate-Palmolive presently has an average rating of “Hold” and an average target price of $81.91.
Shares of Colgate-Palmolive stock traded down $0.03 during midday trading on Thursday, hitting $79.59. 51,482 shares of the company traded hands, compared to its average volume of 5,030,974. The firm’s fifty day moving average price is $76.89 and its 200-day moving average price is $80.38. The stock has a market cap of $67.45 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 3.83 and a beta of 0.59. Colgate-Palmolive has a 12 month low of $65.54 and a 12 month high of $86.41. The company has a debt-to-equity ratio of 6.50, a quick ratio of 0.62 and a current ratio of 0.97.
Colgate-Palmolive (NYSE:CL) last posted its earnings results on Thursday, January 28th. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. Colgate-Palmolive had a net margin of 16.65% and a return on equity of 383.88%. The firm had revenue of $4.32 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the previous year, the firm posted $0.73 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. Equities research analysts forecast that Colgate-Palmolive will post 3.05 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 14th. Shareholders of record on Wednesday, April 21st will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Tuesday, April 20th. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.44. Colgate-Palmolive’s dividend payout ratio is presently 62.19%.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment's products include 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 similar items.
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