Walter & Keenan Wealth Management LLC IN ADV Purchases Shares of 2,393 Colgate-Palmolive Company (NYSE:CL)

Walter & Keenan Wealth Management LLC IN ADV purchased a new stake in Colgate-Palmolive Company (NYSE:CL) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,393 shares of the company’s stock, valued at approximately $224,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC acquired a new position in Colgate-Palmolive in the fourth quarter valued at about $26,000. Centricity Wealth Management LLC acquired a new position in Colgate-Palmolive in the fourth quarter valued at about $27,000. Vermillion Wealth Management Inc. acquired a new position in Colgate-Palmolive in the fourth quarter valued at about $31,000. Union Bancaire Privee UBP SA acquired a new position in Colgate-Palmolive in the fourth quarter valued at about $32,000. Finally, Briaud Financial Planning Inc acquired a new position in Colgate-Palmolive in the fourth quarter valued at about $32,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CL shares. Wall Street Zen downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. boosted their target price on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, April 28th. Wells Fargo & Company boosted 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. Piper Sandler dropped 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. Finally, Barclays dropped their target price on shares of Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating for the company in a research note on Friday, April 11th. 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.com, Colgate-Palmolive currently has a consensus rating of “Hold” and an average price target of $102.12.

Colgate-Palmolive Stock Down 0.6%

Shares of NYSE CL opened at $88.08 on Friday. The stock has a market cap of $71.38 billion, a P/E ratio of 24.88, a P/E/G ratio of 4.68 and a beta of 0.38. The firm has a 50 day moving average price of $91.63 and a 200 day moving average price of $90.85. The company has a debt-to-equity ratio of 8.96, a quick ratio of 0.54 and a current ratio of 0.85. Colgate-Palmolive Company has a 52-week low of $85.32 and a 52-week high of $109.30.

Colgate-Palmolive (NYSE:CL) last issued 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. The firm had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.92 billion. Colgate-Palmolive had a net margin of 14.52% and a return on equity of 461.04%. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.86 earnings per share. Analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 58.76%.

Colgate-Palmolive declared that its board 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 buy up to 6.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Colgate-Palmolive 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.