Annex Advisory Services LLC Raises Stake in Colgate-Palmolive (NYSE:CL)

Annex Advisory Services LLC grew its stake in shares of Colgate-Palmolive (NYSE:CL) by 41.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 108,990 shares of the company’s stock after purchasing an additional 32,085 shares during the period. Annex Advisory Services LLC’s holdings in Colgate-Palmolive were worth $10,212,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Chatham Capital Group Inc. purchased a new stake in shares of Colgate-Palmolive in the 1st quarter worth about $202,000. Charles Schwab Trust Co boosted its position in shares of Colgate-Palmolive by 28.6% in the 1st quarter. Charles Schwab Trust Co now owns 7,201 shares of the company’s stock worth $675,000 after buying an additional 1,600 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Colgate-Palmolive by 22.6% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 29,019 shares of the company’s stock worth $2,719,000 after buying an additional 5,343 shares in the last quarter. Lake Street Private Wealth LLC boosted its position in shares of Colgate-Palmolive by 9.2% in the 1st quarter. Lake Street Private Wealth LLC now owns 2,441 shares of the company’s stock worth $229,000 after buying an additional 205 shares in the last quarter. Finally, Columbia Asset Management boosted its position in shares of Colgate-Palmolive by 3.5% in the 1st quarter. Columbia Asset Management now owns 4,970 shares of the company’s stock worth $466,000 after buying an additional 170 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Down 0.4%

NYSE CL opened at $90.23 on Thursday. Colgate-Palmolive has a 12 month low of $85.32 and a 12 month high of $109.30. The company has a 50-day moving average of $91.92 and a 200-day moving average of $91.25. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58. The company has a market cap of $73.12 billion, a P/E ratio of 25.63, a P/E/G ratio of 4.20 and a beta of 0.39.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.92 billion. During the same quarter in the previous year, the business earned $0.86 EPS. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. As a group, equities analysts predict that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive announced that its Board of Directors has initiated a share buyback program on Thursday, March 20th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to buy up to 6.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.31%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s payout ratio is presently 58.76%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CL. UBS Group boosted their target price on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Citigroup boosted their target price on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the company a “buy” rating in a research note on Monday, April 28th. Piper Sandler cut their target price on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating for the company in a research note on Monday, March 31st. JPMorgan Chase & Co. boosted their target price on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, April 28th. Finally, Wells Fargo & Company boosted their target price on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an “underweight” rating in a research note on Wednesday, April 2nd. One equities 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price 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.