Colgate-Palmolive (NYSE:CL) Position Reduced by First Merchants Corp

First Merchants Corp lowered its stake in Colgate-Palmolive (NYSE:CL) by 4.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 4,430 shares of the company’s stock after selling 225 shares during the period. First Merchants Corp’s holdings in Colgate-Palmolive were worth $403,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CL. Union Bancaire Privee UBP SA acquired a new stake in Colgate-Palmolive during the fourth quarter valued at approximately $32,000. Hager Investment Management Services LLC bought a new stake in shares of Colgate-Palmolive in the 4th quarter valued at approximately $36,000. Reston Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive during the 3rd quarter valued at approximately $42,000. Synergy Asset Management LLC bought a new position in Colgate-Palmolive during the fourth quarter worth $49,000. Finally, Capital Performance Advisors LLP acquired a new position in Colgate-Palmolive in the third quarter worth $53,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of CL opened at $86.10 on Friday. The company has a 50-day moving average of $89.69 and a two-hundred day moving average of $96.48. The stock has a market cap of $70.34 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 4.12 and a beta of 0.44. The company has a debt-to-equity ratio of 9.46, a current ratio of 0.41 and a quick ratio of 0.26. Colgate-Palmolive has a one year low of $83.20 and a one year high of $109.30.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, topping 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 previous year, the business posted $0.87 EPS. On average, equities research analysts expect that Colgate-Palmolive will post 3.73 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Tuesday, January 21st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Tuesday, January 21st. Colgate-Palmolive’s dividend payout ratio is currently 56.82%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CL. Piper Sandler dropped 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. Wells Fargo & Company cut their target price 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. UBS Group decreased 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. JPMorgan Chase & Co. dropped their price target on Colgate-Palmolive from $103.00 to $97.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Finally, StockNews.com lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Colgate-Palmolive has an average rating of “Hold” and an average price target of $101.16.

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.