Legacy Wealth Asset Management LLC increased its holdings in shares of Colgate-Palmolive (NYSE:CL – Get Rating) by 14.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,782 shares of the company’s stock after acquiring an additional 1,320 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Colgate-Palmolive were worth $920,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Horan Securities Inc. acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at approximately $30,000. Fortis Advisors LLC acquired a new stake in shares of Colgate-Palmolive in the third quarter valued at approximately $38,000. TAP Consulting LLC acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at approximately $40,000. Widmann Financial Services Inc. bought a new position in shares of Colgate-Palmolive in the fourth quarter valued at approximately $42,000. Finally, Industrial Alliance Investment Management Inc. bought a new position in shares of Colgate-Palmolive in the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 78.12% of the company’s stock.
CL stock opened at $78.73 on Tuesday. The company has a market cap of $65.97 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 5.24 and a beta of 0.56. The company has a 50 day moving average of $77.36 and a two-hundred day moving average of $79.18. The company has a quick ratio of 0.67, a current ratio of 1.09 and a debt-to-equity ratio of 10.42. Colgate-Palmolive has a 12-month low of $72.20 and a 12-month high of $85.61.
Colgate-Palmolive declared that its board has initiated a share repurchase plan on Thursday, March 10th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 8.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 13th. Stockholders of record on Thursday, April 21st were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Wednesday, April 20th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.39%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.45. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 77.69%.
Several research analysts have recently issued reports on the stock. Credit Suisse Group decreased their price objective on shares of Colgate-Palmolive from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Monday, January 31st. Zacks Investment Research cut shares of Colgate-Palmolive from a “hold” rating to a “sell” rating and set a $82.00 price objective for the company. in a report on Monday, May 2nd. StockNews.com cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Wednesday, April 13th. Barclays reduced their target price on shares of Colgate-Palmolive from $81.00 to $77.00 in a report on Tuesday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Colgate-Palmolive from $91.00 to $88.00 in a report on Monday, May 2nd. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Colgate-Palmolive has an average rating of “Hold” and an average target price of $85.56.
Colgate-Palmolive Profile (Get Rating)
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company 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.
- Get a free copy of the StockNews.com research report on Colgate-Palmolive (CL)
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