Parsons Capital Management Inc. RI Trims Stock Position in Colgate-Palmolive (NYSE:CL)

Parsons Capital Management Inc. RI decreased its position in shares of Colgate-Palmolive (NYSE:CL) by 4.0% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 14,905 shares of the company’s stock after selling 616 shares during the period. Parsons Capital Management Inc. RI’s holdings in Colgate-Palmolive were worth $1,397,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. Brighton Jones LLC lifted its stake in shares of Colgate-Palmolive by 4.4% during 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 in the last quarter. Bernard Wealth Management Corp. bought a new position in Colgate-Palmolive during the 4th quarter worth approximately $36,000. Stephens Inc. AR lifted its holdings in Colgate-Palmolive by 21.4% during the 4th quarter. Stephens Inc. AR now owns 14,506 shares of the company’s stock worth $1,319,000 after buying an additional 2,555 shares during the last quarter. Savant Capital LLC raised its position in shares of Colgate-Palmolive by 4.0% during the 4th quarter. Savant Capital LLC now owns 42,856 shares of the company’s stock worth $3,896,000 after purchasing an additional 1,631 shares during the period. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Colgate-Palmolive during the 4th quarter worth approximately $87,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

CL has been the topic of several analyst reports. JPMorgan Chase & Co. raised their target price on Colgate-Palmolive from $95.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, April 28th. Wells Fargo & Company lifted their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “underweight” rating in a report on Wednesday, April 2nd. Barclays decreased their target price on Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating for the company in a research report on Friday, April 11th. UBS Group lifted their price objective on Colgate-Palmolive from $105.00 to $109.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Finally, Piper Sandler reduced their price objective on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating for the company in a research report on Monday, March 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $102.12.

Colgate-Palmolive Stock Up 1.2%

CL stock opened at $91.92 on Wednesday. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40. The business has a 50 day moving average price of $91.63 and a two-hundred day moving average price of $91.13. The company has a market cap of $74.49 billion, a price-to-earnings ratio of 26.11, a P/E/G ratio of 4.20 and a beta of 0.38. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.92 billion. During the same period last year, the firm posted $0.86 earnings per share. The business’s revenue was down 3.0% on a year-over-year basis. Analysts anticipate that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

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 $0.52 dividend. The ex-dividend date was Thursday, April 17th. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 2.26%. Colgate-Palmolive’s payout ratio is currently 58.76%.

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

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.