Colgate-Palmolive (NYSE:CL) Shares Bought by OneAscent Wealth Management LLC

OneAscent Wealth Management LLC grew its position in Colgate-Palmolive (NYSE:CL) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,725 shares of the company’s stock after acquiring an additional 149 shares during the period. OneAscent Wealth Management LLC’s holdings in Colgate-Palmolive were worth $339,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CL. Allstate Corp acquired a new position in Colgate-Palmolive during the 4th quarter worth approximately $2,087,000. denkapparat Operations GmbH acquired a new position in Colgate-Palmolive during the fourth quarter worth $334,000. Premier Fund Managers Ltd raised its position in Colgate-Palmolive by 367.5% in the fourth quarter. Premier Fund Managers Ltd now owns 48,141 shares of the company’s stock worth $4,371,000 after acquiring an additional 37,843 shares in the last quarter. Orion Portfolio Solutions LLC lifted its holdings in Colgate-Palmolive by 6.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 46,240 shares of the company’s stock valued at $4,204,000 after acquiring an additional 2,943 shares during the period. Finally, Pictet Asset Management Holding SA boosted its position in shares of Colgate-Palmolive by 13.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 456,501 shares of the company’s stock worth $41,501,000 after purchasing an additional 53,942 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $92.73 on Friday. The stock has a fifty day moving average price of $89.69 and a 200 day moving average price of $93.70. 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 52 week low of $85.32 and a 52 week high of $109.30. The firm has a market capitalization of $75.25 billion, a P/E ratio of 26.34, a PEG ratio of 4.20 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last posted 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 net margin of 14.38% and a return on equity of 477.77%. During the same quarter in the prior year, the company earned $0.87 EPS. Equities research analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive declared that its board has authorized a stock repurchase plan on Thursday, March 20th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The company also recently declared 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. This represents a $2.08 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, April 17th. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s payout ratio is 59.09%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Barclays raised their price objective on shares of Colgate-Palmolive from $83.00 to $89.00 and gave the company an “equal weight” rating in a research note on Thursday. Raymond James reiterated an “outperform” rating and set a $105.00 price target (down from $110.00) on shares of Colgate-Palmolive in a research report on Monday, February 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $101.00 price objective on shares of Colgate-Palmolive in a research note on Wednesday, January 29th. UBS Group lowered their target price on Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. lifted their price target on Colgate-Palmolive from $97.00 to $99.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $102.06.

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.