Charter Research & Investment Group Inc. Sells 229 Shares of Colgate-Palmolive (NYSE:CL)

Charter Research & Investment Group Inc. cut its stake in Colgate-Palmolive (NYSE:CL) by 3.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,407 shares of the company’s stock after selling 229 shares during the quarter. Charter Research & Investment Group Inc.’s holdings in Colgate-Palmolive were worth $582,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CL. Allianz SE bought a new stake in shares of Colgate-Palmolive during the fourth quarter valued at approximately $8,645,000. Transamerica Financial Advisors Inc. boosted its holdings in shares of Colgate-Palmolive by 30.1% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 8,240 shares of the company’s stock valued at $750,000 after buying an additional 1,905 shares in the last quarter. OneAscent Wealth Management LLC grew its position in shares of Colgate-Palmolive by 4.2% in the 4th quarter. OneAscent Wealth Management LLC now owns 3,725 shares of the company’s stock worth $339,000 after buying an additional 149 shares during the period. Allstate Corp bought a new position in shares of Colgate-Palmolive in the 4th quarter worth about $2,087,000. Finally, denkapparat Operations GmbH purchased a new position in Colgate-Palmolive during the 4th quarter valued at about $334,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Down 0.5 %

Colgate-Palmolive stock opened at $92.73 on Friday. The stock has a market cap of $75.25 billion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92. The stock has a fifty day moving average of $89.69 and a 200 day moving average of $93.61. Colgate-Palmolive has a one year low of $85.32 and a one year high of $109.30.

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

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

Colgate-Palmolive Increases Dividend

The firm also recently disclosed 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 is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, April 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.24%. Colgate-Palmolive’s payout ratio is presently 59.09%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CL. Morgan Stanley decreased their target price on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Raymond James reissued an “outperform” rating and issued a $105.00 target price (down from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. Wells Fargo & Company reduced their price target on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. StockNews.com cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Tuesday, March 25th. Finally, Piper Sandler reduced their price objective on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $102.06.

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.