UMB Bank n.a. Lowers Position in Colgate-Palmolive (NYSE:CL)

UMB Bank n.a. cut its holdings in shares of Colgate-Palmolive (NYSE:CL) by 2.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,425 shares of the company’s stock after selling 358 shares during the quarter. UMB Bank n.a.’s holdings in Colgate-Palmolive were worth $1,633,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CL shares. Wells Fargo & Company raised their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the company an “underweight” rating in a report on Wednesday, April 2nd. JPMorgan Chase & Co. raised their target price on Colgate-Palmolive from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, April 28th. UBS Group raised their target price on Colgate-Palmolive from $105.00 to $109.00 and gave the company a “buy” rating in a report on Thursday, April 17th. Piper Sandler lowered their target price on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating for the company in a report on Monday, March 31st. Finally, Wall Street Zen cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $102.12.

Colgate-Palmolive Price Performance

CL stock opened at $90.94 on Tuesday. The business has a 50 day moving average price of $91.71 and a 200 day moving average price of $91.12. The stock has a market cap of $73.70 billion, a price-to-earnings ratio of 25.83, a PEG ratio of 4.20 and a beta of 0.38. Colgate-Palmolive has a fifty-two week low of $85.32 and a fifty-two week high of $109.30. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 477.77% and a net margin of 14.38%. The firm’s revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 earnings per share. Equities research analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 17th were paid a dividend of $0.52 per share. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date was Thursday, April 17th. This represents a $2.08 annualized dividend and a yield of 2.29%. Colgate-Palmolive’s payout ratio is presently 58.76%.

Colgate-Palmolive announced that its board has authorized a stock repurchase program on Thursday, March 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.8% of its stock through open market purchases. Stock buyback programs are usually an indication 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.