Colgate-Palmolive (NYSE:CL) Shares Acquired by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE boosted its holdings in Colgate-Palmolive (NYSE:CL) by 5.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 159,069 shares of the company’s stock after purchasing an additional 8,792 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Colgate-Palmolive were worth $14,461,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Colgate-Palmolive by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 81,303,059 shares of the company’s stock worth $7,391,261,000 after buying an additional 588,230 shares during the last quarter. State Street Corp increased its stake in Colgate-Palmolive by 3.8% during the third quarter. State Street Corp now owns 48,436,276 shares of the company’s stock worth $5,028,170,000 after acquiring an additional 1,784,411 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Colgate-Palmolive by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 20,193,331 shares of the company’s stock worth $2,095,325,000 after purchasing an additional 552,949 shares during the period. Amundi lifted its stake in shares of Colgate-Palmolive by 12.8% in the 4th quarter. Amundi now owns 9,200,144 shares of the company’s stock valued at $806,015,000 after purchasing an additional 1,040,604 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of Colgate-Palmolive by 38.7% in the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock valued at $793,542,000 after purchasing an additional 2,132,747 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

CL stock opened at $90.91 on Tuesday. The firm has a market cap of $73.78 billion, a P/E ratio of 25.83, a P/E/G ratio of 4.20 and a beta of 0.40. The stock’s 50 day simple moving average is $89.40 and its 200 day simple moving average is $93.95. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. Colgate-Palmolive has a 12-month low of $85.32 and a 12-month high of $109.30.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, January 31st. The company reported $0.91 earnings per share 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 quarter in the previous year, the business earned $0.87 EPS. As a group, equities research analysts predict that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive declared that its Board of Directors has approved a share buyback program on Thursday, March 20th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 6.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.29%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, April 17th. Colgate-Palmolive’s dividend payout ratio is presently 56.82%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. UBS Group reduced their price target on shares of Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Piper Sandler decreased their price target on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company cut their price objective on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Raymond James reaffirmed an “outperform” rating and issued a $105.00 target price (down previously from $110.00) on shares of Colgate-Palmolive in a research report on Monday, February 3rd. Finally, Morgan Stanley lowered their target price on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Colgate-Palmolive currently has an average rating of “Hold” and an average target price of $101.72.

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.