Thoroughbred Financial Services LLC Reduces Stock Holdings in Colgate-Palmolive (NYSE:CL)

Thoroughbred Financial Services LLC lowered its holdings in Colgate-Palmolive (NYSE:CL) by 6.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,376 shares of the company’s stock after selling 416 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Colgate-Palmolive were worth $579,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Colgate-Palmolive during the 4th quarter valued at about $26,000. Centricity Wealth Management LLC purchased a new position in Colgate-Palmolive in the fourth quarter valued at $27,000. Union Bancaire Privee UBP SA acquired a new position in shares of Colgate-Palmolive in the fourth quarter worth about $32,000. Briaud Financial Planning Inc purchased a new stake in shares of Colgate-Palmolive during the 4th quarter worth about $32,000. Finally, Wintrust Investments LLC acquired a new stake in shares of Colgate-Palmolive during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on CL. Piper Sandler dropped their price target on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a research note on Monday, March 31st. UBS Group dropped their target price on shares of Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. StockNews.com raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Friday. Wells Fargo & Company boosted their price objective on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “underweight” rating in a research note on Wednesday. Finally, Stifel Nicolaus decreased their target price on Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating on the stock in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.06.

Colgate-Palmolive Trading Down 4.4 %

Shares of Colgate-Palmolive stock opened at $91.75 on Friday. The stock has a 50 day moving average of $90.27 and a 200 day moving average of $93.20. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92. The firm has a market capitalization of $74.41 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a fifty-two week low of $85.32 and a fifty-two week high of $109.30.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.01. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. During the same quarter in the previous year, the firm posted $0.87 earnings per share. As a group, research analysts predict that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.27%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, April 17th. Colgate-Palmolive’s payout ratio is 59.09%.

Colgate-Palmolive announced 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 often 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.