Coastline Trust Co Decreases Position in Colgate-Palmolive Company (NYSE:CL)

Coastline Trust Co lowered its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 30.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,140 shares of the company’s stock after selling 5,886 shares during the quarter. Coastline Trust Co’s holdings in Colgate-Palmolive were worth $1,231,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Yukon Wealth Management Inc. acquired a new stake in shares of Colgate-Palmolive during the first quarter worth about $264,000. DAVENPORT & Co LLC lifted its stake in Colgate-Palmolive by 1.4% in the first quarter. DAVENPORT & Co LLC now owns 43,744 shares of the company’s stock valued at $4,099,000 after buying an additional 608 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Colgate-Palmolive by 6.0% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 125,494 shares of the company’s stock valued at $11,759,000 after acquiring an additional 7,057 shares during the period. Cidel Asset Management Inc. grew its position in shares of Colgate-Palmolive by 22.8% during the first quarter. Cidel Asset Management Inc. now owns 289,647 shares of the company’s stock worth $27,140,000 after acquiring an additional 53,843 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its holdings in shares of Colgate-Palmolive by 13.1% in the 1st quarter. Vontobel Holding Ltd. now owns 517,079 shares of the company’s stock valued at $48,450,000 after acquiring an additional 59,988 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on CL. Wells Fargo & Company raised their price objective 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. Piper Sandler lowered their price target on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. UBS Group boosted their price target on Colgate-Palmolive from $105.00 to $109.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Wall Street Zen lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. Finally, Citigroup upped their target price on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the company a “buy” rating in a research note on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $101.69.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $92.10 on Wednesday. The company has a 50-day moving average of $90.71 and a 200-day moving average of $90.56. The firm has a market cap of $74.64 billion, a price-to-earnings ratio of 26.02, a price-to-earnings-growth ratio of 4.83 and a beta of 0.37. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 8.96. Colgate-Palmolive Company has a twelve month low of $85.32 and a twelve month high of $109.30.

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

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 58.76%.

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