Naples Global Advisors LLC Sells 350 Shares of Colgate-Palmolive (NYSE:CL)

Naples Global Advisors LLC lowered its position in shares of Colgate-Palmolive (NYSE:CL) by 9.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,497 shares of the company’s stock after selling 350 shares during the period. Naples Global Advisors LLC’s holdings in Colgate-Palmolive were worth $328,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Colgate-Palmolive during the 4th quarter worth $26,000. Centricity Wealth Management LLC purchased a new position in shares of Colgate-Palmolive during the 4th quarter valued at $27,000. Vermillion Wealth Management Inc. purchased a new position in shares of Colgate-Palmolive during the 4th quarter valued at $31,000. Union Bancaire Privee UBP SA purchased a new position in shares of Colgate-Palmolive during the 4th quarter valued at $32,000. Finally, Briaud Financial Planning Inc purchased a new position in shares of Colgate-Palmolive during the 4th quarter valued at $32,000. Institutional investors own 80.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CL. Wall Street Zen cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th. Wells Fargo & Company lifted 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. Piper Sandler lowered their target price on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a research note on Monday, March 31st. Citigroup boosted their price target on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the stock a “buy” rating in a research note on Monday, April 28th. Finally, Barclays decreased their price target on shares of Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating on the stock in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $102.12.

Colgate-Palmolive Stock Up 0.0%

Shares of NYSE CL opened at $90.18 on Friday. The firm’s 50-day moving average price is $91.77 and its 200-day moving average price is $91.19. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. The stock has a market capitalization of $73.08 billion, a price-to-earnings ratio of 25.62, a P/E/G ratio of 4.20 and a beta of 0.38. 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 earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.05. The firm had revenue of $4.91 billion for the quarter, compared to analysts’ expectations of $4.92 billion. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. The business’s revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.86 EPS. On average, equities research analysts anticipate that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

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 given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.31%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Thursday, April 17th. Colgate-Palmolive’s dividend payout ratio is currently 58.76%.

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

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.