Charles Schwab Trust Co Has $675,000 Stock Holdings in Colgate-Palmolive (NYSE:CL)

Charles Schwab Trust Co lifted its position in shares of Colgate-Palmolive (NYSE:CL) by 28.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,201 shares of the company’s stock after buying an additional 1,600 shares during the quarter. Charles Schwab Trust Co’s holdings in Colgate-Palmolive were worth $675,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CL. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Colgate-Palmolive by 22.6% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 29,019 shares of the company’s stock valued at $2,719,000 after purchasing an additional 5,343 shares during the period. Lake Street Private Wealth LLC raised its position in shares of Colgate-Palmolive by 9.2% in the first quarter. Lake Street Private Wealth LLC now owns 2,441 shares of the company’s stock valued at $229,000 after buying an additional 205 shares in the last quarter. Columbia Asset Management boosted its stake in shares of Colgate-Palmolive by 3.5% in the first quarter. Columbia Asset Management now owns 4,970 shares of the company’s stock valued at $466,000 after buying an additional 170 shares during the period. Hennion & Walsh Asset Management Inc. grew its position in Colgate-Palmolive by 1.7% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 21,699 shares of the company’s stock worth $2,033,000 after buying an additional 357 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc increased its stake in Colgate-Palmolive by 3.1% during the 1st quarter. AEGON ASSET MANAGEMENT UK Plc now owns 1,068,357 shares of the company’s stock worth $100,006,000 after acquiring an additional 31,897 shares during the period. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 0.4%

Shares of NYSE:CL opened at $90.23 on Thursday. The business has a fifty day simple moving average of $91.92 and a 200 day simple moving average of $91.25. Colgate-Palmolive has a 12-month low of $85.32 and a 12-month high of $109.30. The firm has a market cap of $73.12 billion, a P/E ratio of 25.63, a P/E/G ratio of 4.20 and a beta of 0.39. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05. The company had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.92 billion. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. Colgate-Palmolive’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.86 earnings per share. Analysts predict that Colgate-Palmolive will post 3.75 earnings per share for the current year.

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

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th were issued a $0.52 dividend. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Thursday, April 17th. Colgate-Palmolive’s payout ratio is presently 58.76%.

Wall Street Analyst Weigh In

CL has been the subject of several analyst reports. Piper Sandler dropped their target price on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating for the company in a research report on Monday, March 31st. Citigroup lifted their price target on Colgate-Palmolive from $103.00 to $108.00 and gave the company a “buy” rating in a research note on Monday, April 28th. UBS Group upped their price objective on Colgate-Palmolive from $105.00 to $109.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Barclays reduced their price objective on Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating on the stock in a research note on Friday, April 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the stock an “overweight” rating in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $102.12.

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.