Curat Global LLC Makes New Investment in Colgate-Palmolive (NYSE:CL)

Curat Global LLC purchased a new position in Colgate-Palmolive (NYSE:CL) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,395 shares of the company’s stock, valued at approximately $131,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in Colgate-Palmolive by 4.4% during the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock worth $962,000 after buying an additional 450 shares during the last quarter. Bernard Wealth Management Corp. purchased a new stake in shares of Colgate-Palmolive in the fourth quarter valued at about $36,000. Mirae Asset Global Investments Co. Ltd. grew its position in Colgate-Palmolive by 20.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 157,811 shares of the company’s stock valued at $14,402,000 after buying an additional 26,382 shares during the period. Choreo LLC grew its position in Colgate-Palmolive by 17.9% during the fourth quarter. Choreo LLC now owns 27,563 shares of the company’s stock valued at $2,503,000 after buying an additional 4,190 shares during the period. Finally, Bleakley Financial Group LLC grew its position in Colgate-Palmolive by 5.5% during the fourth quarter. Bleakley Financial Group LLC now owns 23,614 shares of the company’s stock valued at $2,147,000 after buying an additional 1,238 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CL. Piper Sandler reduced their price target on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating for the company in a research report on Monday, March 31st. JPMorgan Chase & Co. raised their price objective on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, April 28th. Wells Fargo & Company raised their price objective on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an “underweight” rating in a research report on Wednesday, April 2nd. Citigroup raised their price objective on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the company a “buy” rating in a research report on Monday, April 28th. Finally, Wall Street Zen lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $102.12.

Colgate-Palmolive Stock Up 0.0%

Shares of Colgate-Palmolive stock opened at $90.18 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. The company’s fifty day simple moving average is $91.77 and its two-hundred day simple moving average is $91.19. The company has a market cap of $73.08 billion, a P/E ratio of 25.62, a PEG ratio of 4.20 and a beta of 0.38. Colgate-Palmolive has a 12-month low of $85.32 and a 12-month high of $109.30.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. The business had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.92 billion. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.86 EPS. Research analysts anticipate that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive announced that its Board of Directors has approved a share buyback plan on Thursday, March 20th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 6.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th were given a dividend of $0.52 per share. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Thursday, April 17th. Colgate-Palmolive’s payout ratio is presently 58.76%.

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.