Central Bank & Trust Co. Takes $270,000 Position in Colgate-Palmolive (NYSE:CL)

Central Bank & Trust Co. bought a new position in shares of Colgate-Palmolive (NYSE:CL) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,886 shares of the company’s stock, valued at approximately $270,000.

Several other institutional investors also recently bought and sold shares of CL. Brighton Jones LLC raised its position in Colgate-Palmolive by 4.4% during the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after acquiring an additional 450 shares in the last quarter. Bernard Wealth Management Corp. purchased a new stake in shares of Colgate-Palmolive in the fourth quarter valued at approximately $36,000. Apollon Wealth Management LLC increased its position in shares of Colgate-Palmolive by 12.2% in the fourth quarter. Apollon Wealth Management LLC now owns 25,317 shares of the company’s stock valued at $2,302,000 after buying an additional 2,746 shares in the last quarter. Kingsview Wealth Management LLC increased its position in shares of Colgate-Palmolive by 133.9% in the fourth quarter. Kingsview Wealth Management LLC now owns 36,120 shares of the company’s stock valued at $3,284,000 after buying an additional 20,676 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB increased its position in shares of Colgate-Palmolive by 8.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 55,798 shares of the company’s stock valued at $5,073,000 after buying an additional 4,465 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CL. Wall Street Zen cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th. Citigroup lifted their price target on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a “buy” rating in a research note on Monday, April 28th. Wells Fargo & Company lifted their price target on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. lifted their price target on Colgate-Palmolive from $95.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, April 28th. Finally, Piper Sandler lowered their price target on 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 stock. According to MarketBeat.com, Colgate-Palmolive has a consensus rating of “Hold” and a consensus price target of $102.12.

Colgate-Palmolive Stock Performance

NYSE CL opened at $90.18 on Monday. The stock’s fifty day moving average is $91.77 and its two-hundred day moving average is $91.15. The firm has a market capitalization of $73.08 billion, a P/E ratio of 25.62, a price-to-earnings-growth ratio of 4.20 and a beta of 0.38. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92. Colgate-Palmolive has a fifty-two week low of $85.32 and a fifty-two week high of $109.30.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, April 25th. The company reported $0.91 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $4.92 billion. During the same quarter in the prior year, the company posted $0.86 EPS. The company’s quarterly revenue was down 3.0% on a year-over-year basis. On average, research analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current year.

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

Colgate-Palmolive Increases Dividend

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