Horizon Wealth Management LLC Increases Stock Position in Colgate-Palmolive (NYSE:CL)

Horizon Wealth Management LLC boosted its stake in Colgate-Palmolive (NYSE:CL) by 3.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,633 shares of the company’s stock after purchasing an additional 139 shares during the quarter. Horizon Wealth Management LLC’s holdings in Colgate-Palmolive were worth $434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Aviva PLC raised its stake in Colgate-Palmolive by 13.4% in the fourth quarter. Aviva PLC now owns 973,421 shares of the company’s stock valued at $88,494,000 after purchasing an additional 114,855 shares in the last quarter. Atlas Legacy Advisors LLC bought a new position in Colgate-Palmolive during the fourth quarter valued at approximately $311,000. SBI Securities Co. Ltd. bought a new position in Colgate-Palmolive during the fourth quarter valued at approximately $304,000. Jupiter Asset Management Ltd. grew its position in Colgate-Palmolive by 2.3% during the fourth quarter. Jupiter Asset Management Ltd. now owns 685,718 shares of the company’s stock valued at $62,339,000 after acquiring an additional 15,142 shares during the last quarter. Finally, Summit Investment Advisors Inc. grew its position in Colgate-Palmolive by 10.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 32,710 shares of the company’s stock valued at $2,974,000 after acquiring an additional 3,187 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $90.18 on Friday. The stock has a market cap of $73.08 billion, a P/E ratio of 25.62, a price-to-earnings-growth ratio of 4.20 and a beta of 0.38. The firm’s fifty day simple moving average is $91.77 and its 200 day simple moving average is $91.19. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40.

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

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 17th were issued a $0.52 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $2.08 annualized dividend and a yield of 2.31%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s payout ratio is 58.76%.

Colgate-Palmolive declared that its Board of Directors has approved a stock repurchase plan on Thursday, March 20th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

CL has been the topic of a number of recent research reports. Wells Fargo & Company increased their price target 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. Wall Street Zen cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th. UBS Group increased their price target on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Barclays reduced their price target on shares of Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. Finally, Piper Sandler reduced their price target 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, March 31st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $102.12.

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.