Gleason Group Inc. Sells 1,597 Shares of Colgate-Palmolive (NYSE:CL)

Gleason Group Inc. cut its holdings in Colgate-Palmolive (NYSE:CL) by 38.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,592 shares of the company’s stock after selling 1,597 shares during the period. Gleason Group Inc.’s holdings in Colgate-Palmolive were worth $243,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of CL. Norges Bank purchased a new stake in Colgate-Palmolive in the 4th quarter worth approximately $912,375,000. Diamond Hill Capital Management Inc. purchased a new position in Colgate-Palmolive in the 4th quarter worth $348,718,000. AMF Tjanstepension AB raised its position in Colgate-Palmolive by 1,088.8% in the 4th quarter. AMF Tjanstepension AB now owns 2,569,394 shares of the company’s stock worth $233,584,000 after purchasing an additional 2,353,268 shares during the period. Deutsche Bank AG increased its position in shares of Colgate-Palmolive by 35.6% in the fourth quarter. Deutsche Bank AG now owns 6,922,994 shares of the company’s stock valued at $629,369,000 after acquiring an additional 1,816,865 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Colgate-Palmolive in the fourth quarter valued at about $132,405,000. 80.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CL has been the topic of several research analyst reports. Piper Sandler reduced their price target on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. Barclays dropped their price objective on shares of 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. Wells Fargo & Company upped their target price on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 2nd. Wall Street Zen cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Colgate-Palmolive presently has a consensus rating of “Hold” and an average target price of $102.12.

Colgate-Palmolive Trading Up 0.0%

Shares of CL stock opened at $90.18 on Friday. Colgate-Palmolive has a 52-week low of $85.32 and a 52-week high of $109.30. 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 firm has a market capitalization of $73.08 billion, a PE ratio of 25.62, a PEG ratio of 4.20 and a beta of 0.38. The stock has a fifty day simple moving average of $91.77 and a two-hundred day simple moving average of $91.19.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. 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 prior year, the business posted $0.86 EPS. Colgate-Palmolive’s revenue for the quarter was down 3.0% compared to the same quarter last year. On average, analysts predict that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

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

Colgate-Palmolive Increases Dividend

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

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.