Smith Shellnut Wilson LLC ADV Cuts Stock Holdings in Colgate-Palmolive (NYSE:CL)

Smith Shellnut Wilson LLC ADV reduced its stake in Colgate-Palmolive (NYSE:CL) by 16.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,902 shares of the company’s stock after selling 560 shares during the quarter. Smith Shellnut Wilson LLC ADV’s holdings in Colgate-Palmolive were worth $272,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Kohmann Bosshard Financial Services LLC bought a new stake in Colgate-Palmolive in the 4th quarter worth about $26,000. Centricity Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive during the fourth quarter valued at approximately $27,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Colgate-Palmolive during the fourth quarter valued at approximately $31,000. Union Bancaire Privee UBP SA purchased a new position in Colgate-Palmolive in the fourth quarter worth $32,000. Finally, Briaud Financial Planning Inc bought a new position in Colgate-Palmolive in the 4th quarter valued at $32,000. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $90.10 on Tuesday. The stock has a market cap of $73.02 billion, a P/E ratio of 25.60, a PEG ratio of 4.20 and a beta of 0.38. 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’s 50-day moving average price is $91.78 and its two-hundred day moving average price is $90.95. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $4.92 billion. During the same period last year, the firm posted $0.86 earnings per share. Colgate-Palmolive’s quarterly revenue was down 3.0% on a year-over-year basis. As a group, equities analysts predict that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive announced that its Board of Directors has initiated a stock buyback program on Thursday, March 20th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a yield of 2.31%. Colgate-Palmolive’s dividend payout ratio is presently 58.76%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. 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 research note on Wednesday, April 2nd. UBS Group boosted their target price on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Wall Street Zen lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th. Piper Sandler dropped their price objective on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a research note on Monday, March 31st. Finally, Citigroup raised their target price on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a “buy” rating in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Hold” and an average target price of $102.12.

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.