Dechtman Wealth Management LLC Reduces Stock Position in Colgate-Palmolive (NYSE:CL)

Dechtman Wealth Management LLC trimmed its stake in shares of Colgate-Palmolive (NYSE:CL) by 16.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,324 shares of the company’s stock after selling 454 shares during the period. Dechtman Wealth Management LLC’s holdings in Colgate-Palmolive were worth $211,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CL. Axxcess Wealth Management LLC raised its position in shares of Colgate-Palmolive by 0.3% in the 4th quarter. Axxcess Wealth Management LLC now owns 38,786 shares of the company’s stock worth $3,526,000 after acquiring an additional 117 shares in 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 valued at $247,000 after purchasing an additional 118 shares during the last quarter. D Orazio & Associates Inc. raised 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 worth $271,000 after purchasing an additional 120 shares in the last quarter. Lantz Financial LLC lifted its position in shares of 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 during the last quarter. Finally, Horizon Kinetics Asset Management LLC boosted its holdings 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 valued at $322,000 after buying an additional 124 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

Analysts Set New Price Targets

CL has been the subject of a number of analyst reports. StockNews.com cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Tuesday. Piper Sandler lowered their price objective on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. TD Cowen reduced their target price on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Raymond James restated an “outperform” rating and set a $105.00 price target (down previously from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Colgate-Palmolive from $97.00 to $99.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $101.72.

Colgate-Palmolive Stock Down 1.5 %

CL opened at $89.52 on Wednesday. The company has a fifty day moving average of $89.44 and a two-hundred day moving average of $93.82. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92. Colgate-Palmolive has a fifty-two week low of $85.32 and a fifty-two week high of $109.30. The stock has a market capitalization of $72.65 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 4.20 and a beta of 0.40.

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 period in the previous year, the business posted $0.87 earnings per share. On average, research analysts expect 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. Investors of record on Thursday, April 17th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Thursday, April 17th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s payout ratio is presently 56.82%.

Colgate-Palmolive announced that its Board of Directors has initiated a stock buyback plan on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.8% of its stock through open market purchases. Stock repurchase plans are typically 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.