Bennett Selby Investments LP Has $385,000 Stock Holdings in Colgate-Palmolive (NYSE:CL)

Bennett Selby Investments LP increased its stake in shares of Colgate-Palmolive (NYSE:CL) by 41.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,112 shares of the company’s stock after purchasing an additional 1,212 shares during the quarter. Bennett Selby Investments LP’s holdings in Colgate-Palmolive were worth $385,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC bought a new stake in Colgate-Palmolive during the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC bought a new stake in Colgate-Palmolive during the 4th quarter worth approximately $27,000. Vermillion Wealth Management Inc. bought a new stake in Colgate-Palmolive during the 4th quarter worth approximately $31,000. Union Bancaire Privee UBP SA bought a new stake in Colgate-Palmolive during the 4th quarter worth approximately $32,000. Finally, Briaud Financial Planning Inc bought a new stake in Colgate-Palmolive during the 4th quarter worth approximately $32,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CL shares. Citigroup boosted their target price on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the stock a “buy” rating in a report on Monday, April 28th. JPMorgan Chase & Co. boosted their target price on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. Wall Street Zen lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. Barclays reduced their price objective 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. Finally, Piper Sandler reduced their price objective 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $102.12.

Colgate-Palmolive Stock Up 0.0%

Shares of NYSE CL opened at $90.18 on Friday. The firm has a market cap of $73.08 billion, a PE 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. The company’s fifty day simple moving average is $91.77 and its 200 day simple moving average is $91.17. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data 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 net margin of 14.38% and a return on equity of 477.77%. The firm had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. During the same period last year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive declared that its board has authorized a share repurchase plan on Thursday, March 20th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.31%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date was Thursday, April 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.76%.

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.