HUB Investment Partners LLC Cuts Stock Position in Colgate-Palmolive (NYSE:CL)

HUB Investment Partners LLC trimmed its position in Colgate-Palmolive (NYSE:CL) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,538 shares of the company’s stock after selling 243 shares during the period. HUB Investment Partners LLC’s holdings in Colgate-Palmolive were worth $503,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CL. Axxcess Wealth Management LLC boosted its stake in Colgate-Palmolive by 0.3% during the 4th quarter. Axxcess Wealth Management LLC now owns 38,786 shares of the company’s stock valued at $3,526,000 after acquiring an additional 117 shares during the last quarter. Commonwealth Financial Services LLC grew its stake in Colgate-Palmolive by 4.5% in the fourth quarter. Commonwealth Financial Services LLC now owns 2,716 shares of the company’s stock worth $247,000 after purchasing an additional 118 shares in the last quarter. D Orazio & Associates Inc. increased its holdings in Colgate-Palmolive by 4.2% in the fourth quarter. D Orazio & Associates Inc. now owns 2,982 shares of the company’s stock valued at $271,000 after buying an additional 120 shares during the last quarter. Lantz Financial LLC raised its stake in Colgate-Palmolive by 0.6% during the fourth quarter. Lantz Financial LLC now owns 20,140 shares of the company’s stock valued at $1,831,000 after buying an additional 122 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC grew its position in shares of Colgate-Palmolive by 4.2% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 3,102 shares of the company’s stock worth $322,000 after acquiring an additional 124 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

CL opened at $90.30 on Friday. The business has a 50 day moving average price of $89.33 and a two-hundred day moving average price of $94.27. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58. The company has a market capitalization of $73.28 billion, a price-to-earnings ratio of 25.65, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a 1-year low of $85.32 and a 1-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 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 period last year, the business earned $0.87 earnings per share. Research analysts predict that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Thursday, April 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.30%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s payout ratio is currently 56.82%.

Colgate-Palmolive announced that its Board of Directors has authorized a share buyback program on Thursday, March 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to purchase up to 6.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wells Fargo & Company dropped their price target on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. UBS Group decreased their price target on shares of Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Piper Sandler cut their target price on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Raymond James reaffirmed an “outperform” rating and set a $105.00 target price (down from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. Finally, TD Cowen reduced their price objective on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Colgate-Palmolive currently has an average rating of “Hold” and a consensus target price of $101.72.

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.