MML Investors Services LLC Has $3.64 Million Holdings in Colgate-Palmolive (NYSE:CL)

MML Investors Services LLC trimmed its stake in shares of Colgate-Palmolive (NYSE:CL) by 51.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,002 shares of the company’s stock after selling 43,182 shares during the period. MML Investors Services LLC’s holdings in Colgate-Palmolive were worth $3,637,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CL. Axxcess Wealth Management LLC grew its position in shares of Colgate-Palmolive by 0.3% during the 4th quarter. Axxcess Wealth Management LLC now owns 38,786 shares of the company’s stock worth $3,526,000 after buying an additional 117 shares during the period. Commonwealth Financial Services LLC increased its stake in Colgate-Palmolive by 4.5% in the fourth quarter. Commonwealth Financial Services LLC now owns 2,716 shares of the company’s stock valued at $247,000 after purchasing an additional 118 shares in the last quarter. Wescott Financial Advisory Group LLC boosted its position in shares of Colgate-Palmolive by 3.5% during the 4th quarter. Wescott Financial Advisory Group LLC now owns 3,517 shares of the company’s stock worth $320,000 after purchasing an additional 119 shares in the last quarter. D Orazio & Associates Inc. grew its stake in shares of Colgate-Palmolive by 4.2% in the 4th quarter. D Orazio & Associates Inc. now owns 2,982 shares of the company’s stock valued at $271,000 after buying an additional 120 shares during the period. Finally, Lantz Financial LLC increased its position in Colgate-Palmolive by 0.6% in the 4th quarter. Lantz Financial LLC now owns 20,140 shares of the company’s stock valued at $1,831,000 after buying an additional 122 shares in the last quarter. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $93.90 on Friday. 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. The stock has a market cap of $76.16 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. The stock has a fifty day moving average of $92.07 and a 200-day moving average of $92.17.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. 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 during the quarter, compared to analyst estimates of $4.92 billion. During the same quarter in the previous year, the firm earned $0.86 EPS. Equities research analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive announced that its Board of Directors has initiated a share buyback program 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 stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.22%. 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%.

Analysts Set New Price Targets

CL has been the subject of a number of research reports. TD Cowen reduced their price objective on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. UBS Group lifted their price target on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Piper Sandler dropped their price objective on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a research note on Monday, March 31st. Stifel Nicolaus decreased their target price on shares of Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating for the company in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $102.17.

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.