CHICAGO TRUST Co NA Cuts Stock Holdings in Colgate-Palmolive (NYSE:CL)

CHICAGO TRUST Co NA lowered its stake in Colgate-Palmolive (NYSE:CL) by 25.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,149 shares of the company’s stock after selling 1,433 shares during the quarter. CHICAGO TRUST Co NA’s holdings in Colgate-Palmolive were worth $389,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CL. Brighton Jones LLC boosted its holdings in Colgate-Palmolive by 4.4% in the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock worth $962,000 after purchasing an additional 450 shares during the last quarter. Bernard Wealth Management Corp. bought a new position in Colgate-Palmolive in the fourth quarter worth approximately $36,000. Apollon Wealth Management LLC raised its position in Colgate-Palmolive by 12.2% in the fourth quarter. Apollon Wealth Management LLC now owns 25,317 shares of the company’s stock worth $2,302,000 after acquiring an additional 2,746 shares during the period. Kingsview Wealth Management LLC raised its position in Colgate-Palmolive by 133.9% in the fourth quarter. Kingsview Wealth Management LLC now owns 36,120 shares of the company’s stock worth $3,284,000 after acquiring an additional 20,676 shares during the period. Finally, Thompson Investment Management Inc. raised its position in Colgate-Palmolive by 19.7% in the fourth quarter. Thompson Investment Management Inc. now owns 3,645 shares of the company’s stock worth $331,000 after acquiring an additional 600 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CL. Citigroup increased their price target on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the stock a “buy” rating in a research report on Monday, April 28th. Barclays decreased their price target on shares of Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company increased their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 2nd. UBS Group increased their price target on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Finally, Piper Sandler decreased 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. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $102.12.

Colgate-Palmolive Stock Performance

CL opened at $90.94 on Tuesday. The stock has a market capitalization of $73.70 billion, a price-to-earnings ratio of 25.83, a PEG ratio of 4.20 and a beta of 0.38. The company has a fifty day moving average of $91.71 and a 200 day moving average of $91.12. Colgate-Palmolive has a fifty-two week low of $85.32 and a fifty-two 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.

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

Colgate-Palmolive declared that its Board of Directors has approved a share repurchase program on Thursday, March 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to repurchase up to 6.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th were paid a $0.52 dividend. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Thursday, April 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 58.76%.

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.