Grimes & Company Inc. Sells 126 Shares of Colgate-Palmolive Company (NYSE:CL)

Grimes & Company Inc. lessened its holdings in Colgate-Palmolive Company (NYSE:CL) by 1.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,377 shares of the company’s stock after selling 126 shares during the period. Grimes & Company Inc.’s holdings in Colgate-Palmolive were worth $1,160,000 at the end of the most recent reporting period.

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

Colgate-Palmolive Price Performance

NYSE:CL opened at $88.66 on Wednesday. Colgate-Palmolive Company has a 52-week low of $85.32 and a 52-week high of $109.30. The stock has a fifty day moving average of $91.75 and a 200 day moving average of $90.93. The company has a debt-to-equity ratio of 8.96, a quick ratio of 0.54 and a current ratio of 0.85. The firm has a market capitalization of $71.85 billion, a price-to-earnings ratio of 25.04, a P/E/G ratio of 4.79 and a beta of 0.38.

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, beating analysts’ consensus estimates of $0.86 by $0.05. The firm had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.92 billion. Colgate-Palmolive had a return on equity of 461.04% and a net margin of 14.52%. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter last year, the company posted $0.86 EPS. On average, research analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

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

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive’s dividend payout ratio is currently 58.76%.

Analyst Ratings Changes

CL has been the subject of a number of recent research reports. 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. Citigroup lifted their price objective on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a “buy” rating in a report on Monday, April 28th. JPMorgan Chase & Co. upped 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. UBS Group increased their target price 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 reduced 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 note on Monday, March 31st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price 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.