Colgate-Palmolive (NYSE:CL) Shares Sold by Wambolt & Associates LLC

Wambolt & Associates LLC cut its holdings in shares of Colgate-Palmolive (NYSE:CL) by 29.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,871 shares of the company’s stock after selling 1,220 shares during the period. Wambolt & Associates LLC’s holdings in Colgate-Palmolive were worth $261,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CL. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Colgate-Palmolive during the 4th quarter worth $26,000. Centricity Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive during the fourth quarter valued at $27,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Colgate-Palmolive during the fourth quarter valued at $32,000. Briaud Financial Planning Inc acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at $32,000. Finally, Wintrust Investments LLC purchased a new position in Colgate-Palmolive in the 4th quarter worth about $33,000. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Stock Down 1.5 %

Colgate-Palmolive stock opened at $89.52 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. Colgate-Palmolive has a 1-year low of $85.32 and a 1-year high of $109.30. The firm’s fifty day simple moving average is $89.44 and its 200-day simple moving average is $93.82. The company has a market capitalization of $72.65 billion, a P/E ratio of 25.43, a P/E/G ratio of 4.20 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate 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 last year, the company earned $0.87 EPS. Sell-side analysts forecast that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive announced that its board has initiated a stock buyback program on Thursday, March 20th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Colgate-Palmolive Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th will be given 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 2.32%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s dividend payout ratio is presently 56.82%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Barclays dropped 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 research report on Friday, January 17th. Royal Bank of Canada reiterated a “sector perform” rating and set a $101.00 price objective on shares of Colgate-Palmolive in a research report on Wednesday, January 29th. Raymond James restated an “outperform” rating and issued a $105.00 target price (down previously from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. JPMorgan Chase & Co. lifted their price target on Colgate-Palmolive from $97.00 to $99.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Finally, StockNews.com downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $101.72.

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.