Colgate-Palmolive (NYSE:CL) Holdings Trimmed by Hemenway Trust Co LLC

Hemenway Trust Co LLC cut its holdings in Colgate-Palmolive (NYSE:CL) by 17.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,752 shares of the company’s stock after selling 778 shares during the quarter. Hemenway Trust Co LLC’s holdings in Colgate-Palmolive were worth $341,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

CL has been the topic of a number of analyst reports. 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. StockNews.com raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a research report on Friday. Raymond James restated an “outperform” rating and issued a $105.00 price target (down previously from $110.00) on shares of Colgate-Palmolive in a research report on Monday, February 3rd. UBS Group cut their target price on shares of Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Finally, TD Cowen reduced their target price on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $102.06.

Colgate-Palmolive Price Performance

NYSE CL opened at $91.75 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40. The stock has a market capitalization of $74.41 billion, a PE ratio of 26.06, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. 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 price of $90.27 and a two-hundred day moving average price of $93.28.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the firm earned $0.87 earnings per share. As a group, equities analysts predict that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

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

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.27%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, April 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 59.09%.

About Colgate-Palmolive

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.