Prestige Wealth Management Group LLC Has $13.42 Million Stock Position in Colgate-Palmolive (NYSE:CL)

Prestige Wealth Management Group LLC cut its stake in Colgate-Palmolive (NYSE:CL) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 147,570 shares of the company’s stock after selling 877 shares during the period. Colgate-Palmolive comprises about 4.2% of Prestige Wealth Management Group LLC’s investment portfolio, making the stock its 8th largest position. Prestige Wealth Management Group LLC’s holdings in Colgate-Palmolive were worth $13,416,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Colgate-Palmolive in the 4th quarter worth $26,000. Centricity Wealth Management LLC bought a new stake in shares of Colgate-Palmolive in the fourth quarter valued at about $27,000. Union Bancaire Privee UBP SA purchased a new stake in Colgate-Palmolive in the fourth quarter worth about $32,000. Briaud Financial Planning Inc bought a new position in Colgate-Palmolive during the 4th quarter worth about $32,000. Finally, Wintrust Investments LLC purchased a new position in Colgate-Palmolive during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CL shares. Barclays dropped their price objective on shares of Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Raymond James reiterated an “outperform” rating and issued a $105.00 price target (down from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. Morgan Stanley decreased their price objective 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. Stifel Nicolaus cut their target price on Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating on the stock in a research note on Monday, February 3rd. Finally, UBS Group decreased their price target on shares of Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $101.72.

Colgate-Palmolive Trading Up 0.7 %

Colgate-Palmolive stock opened at $90.91 on Tuesday. Colgate-Palmolive has a 52 week low of $85.32 and a 52 week high of $109.30. 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 company has a market capitalization of $73.78 billion, a price-to-earnings ratio of 25.83, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. The stock has a 50-day moving average price of $89.40 and a 200 day moving average price of $93.95.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, January 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate 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 prior year, the company posted $0.87 EPS. Sell-side analysts anticipate that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive Increases Dividend

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

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

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.