HighPoint Advisor Group LLC Increases Stock Position in Colgate-Palmolive (NYSE:CL)

HighPoint Advisor Group LLC boosted its holdings in Colgate-Palmolive (NYSE:CL) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,330 shares of the company’s stock after purchasing an additional 672 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Colgate-Palmolive were worth $1,427,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CL. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Colgate-Palmolive during the fourth quarter worth approximately $26,000. Centricity Wealth Management LLC purchased a new position in Colgate-Palmolive during the 4th quarter worth $27,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Colgate-Palmolive in the 4th quarter worth $32,000. Briaud Financial Planning Inc purchased a new stake in shares of Colgate-Palmolive in the fourth quarter valued at about $32,000. Finally, Wintrust Investments LLC purchased a new position in Colgate-Palmolive during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Trading Up 1.1 %

Shares of CL stock opened at $93.84 on Tuesday. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30. The company has a market capitalization of $76.11 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 4.20 and a beta of 0.40. The firm has a 50-day moving average price of $89.80 and a 200 day moving average price of $93.44. 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 (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 quarter in the prior year, the business earned $0.87 EPS. Research analysts forecast that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

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

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 issued a dividend of $0.52 per share. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, April 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.22%. Colgate-Palmolive’s dividend payout ratio (DPR) is 59.09%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CL shares. TD Cowen decreased their price target on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Morgan Stanley decreased their target price on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $101.00 price target on shares of Colgate-Palmolive in a report on Wednesday, January 29th. Wells Fargo & Company decreased their price objective on shares of Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Finally, Piper Sandler lowered their target price on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $101.78.

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.