RWA Wealth Partners LLC Trims Stock Position in Colgate-Palmolive (NYSE:CL)

RWA Wealth Partners LLC trimmed its holdings in Colgate-Palmolive (NYSE:CL) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 184,323 shares of the company’s stock after selling 2,664 shares during the quarter. RWA Wealth Partners LLC’s holdings in Colgate-Palmolive were worth $16,757,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CL. Chicago Partners Investment Group LLC raised its position in Colgate-Palmolive by 16.2% during the fourth quarter. Chicago Partners Investment Group LLC now owns 6,752 shares of the company’s stock valued at $591,000 after acquiring an additional 943 shares in the last quarter. Peak Financial Advisors LLC purchased a new position in shares of Colgate-Palmolive during the 4th quarter valued at approximately $1,315,000. Fiduciary Alliance LLC acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at $4,066,000. Impact Partnership Wealth LLC purchased a new stake in Colgate-Palmolive during the fourth quarter worth $803,000. Finally, Barclays PLC grew its position in Colgate-Palmolive by 38.7% during the third quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock valued at $793,542,000 after buying an additional 2,132,747 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CL shares. Royal Bank of Canada reissued a “sector perform” rating and set a $101.00 target price on shares of Colgate-Palmolive in a research note on Wednesday, January 29th. Morgan Stanley cut their price objective on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Piper Sandler decreased their target price on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. TD Cowen cut their price target on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Colgate-Palmolive from $97.00 to $99.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $102.06.

Colgate-Palmolive Stock Performance

NYSE CL opened at $92.73 on Friday. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92. The stock’s fifty day moving average is $89.69 and its two-hundred day moving average is $93.61. The firm has a market capitalization of $75.25 billion, a P/E ratio of 26.34, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a fifty-two week low of $85.32 and a fifty-two week high of $109.30.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results 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 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, research analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive announced that its board has approved a share buyback plan on Thursday, March 20th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 6.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership 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. Investors of record on Thursday, April 17th will be issued a $0.52 dividend. The ex-dividend date is Thursday, April 17th. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 2.24%. Colgate-Palmolive’s dividend payout ratio is currently 59.09%.

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.