Envestnet Portfolio Solutions Inc. Decreases Stock Holdings in Colgate-Palmolive (NYSE:CL)

Envestnet Portfolio Solutions Inc. trimmed its holdings in Colgate-Palmolive (NYSE:CL) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,243 shares of the company’s stock after selling 419 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Colgate-Palmolive were worth $2,477,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC purchased a new position in Colgate-Palmolive in the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC purchased a new position in Colgate-Palmolive in the 4th quarter worth approximately $27,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Colgate-Palmolive during the 4th quarter valued at approximately $32,000. Briaud Financial Planning Inc purchased a new stake in shares of Colgate-Palmolive during the 4th quarter valued at approximately $32,000. Finally, Wintrust Investments LLC purchased a new stake in shares of Colgate-Palmolive during the 4th quarter valued at approximately $33,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CL has been the topic of several analyst reports. Stifel Nicolaus reduced their price target on shares of Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating on the stock in a research report on Monday, February 3rd. Raymond James reaffirmed an “outperform” rating and set a $105.00 price target (down previously from $110.00) on shares of Colgate-Palmolive in a research report on Monday, February 3rd. StockNews.com lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Friday, March 14th. Barclays dropped their target price on shares of Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Finally, UBS Group dropped their target price on shares of Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating for the company in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $101.72.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $90.29 on Friday. The stock has a market cap of $73.28 billion, a P/E ratio of 25.65, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. The company has a fifty day simple moving average of $89.25 and a 200-day simple moving average of $94.38. Colgate-Palmolive has a 12-month low of $85.32 and a 12-month 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.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping 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 previous year, the company posted $0.87 earnings per share. Equities analysts expect that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive announced that its Board of Directors has authorized a share repurchase plan on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Colgate-Palmolive Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th will be given a dividend of $0.52 per share. 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 2.30%. Colgate-Palmolive’s payout ratio is 56.82%.

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.