CoreFirst Bank & Trust Takes $11.48 Million Position in Colgate-Palmolive (NYSE:CL)

CoreFirst Bank & Trust acquired a new position in shares of Colgate-Palmolive (NYSE:CL) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 126,245 shares of the company’s stock, valued at approximately $11,477,000. Colgate-Palmolive accounts for about 6.8% of CoreFirst Bank & Trust’s holdings, making the stock its 2nd largest holding.

Several other hedge funds also recently bought and sold shares of CL. Chicago Partners Investment Group LLC raised its position in Colgate-Palmolive by 16.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 6,752 shares of the company’s stock valued at $591,000 after purchasing an additional 943 shares during the period. Peak Financial Advisors LLC purchased a new stake in shares of Colgate-Palmolive in the 4th quarter valued at $1,315,000. Fiduciary Alliance LLC purchased a new stake in Colgate-Palmolive during the fourth quarter worth about $4,066,000. Impact Partnership Wealth LLC acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth about $803,000. Finally, Barclays PLC boosted its stake in shares of Colgate-Palmolive by 38.7% in the third quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock valued at $793,542,000 after purchasing an additional 2,132,747 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on CL shares. StockNews.com cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Friday, March 14th. UBS Group lowered their target price on Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Piper Sandler reduced their price target on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Morgan Stanley lowered their price objective on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, Barclays reduced their target price on shares of Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $101.72.

Colgate-Palmolive Trading Up 0.0 %

NYSE CL opened at $90.30 on Monday. The firm’s fifty day moving average is $89.33 and its two-hundred day moving average is $94.07. 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 cap of $73.28 billion, a PE ratio of 25.65, a P/E/G ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a one year low of $85.32 and a one year high of $109.30.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.01. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. During the same period in the previous year, the company posted $0.87 EPS. Analysts expect that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive announced that its board has authorized a stock buyback plan on Thursday, March 20th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be issued a dividend of $0.52 per share. The ex-dividend date is Thursday, April 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.30%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s payout ratio is currently 56.82%.

Colgate-Palmolive Company 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.