MOKAN Wealth Management Inc. Grows Stock Holdings in Colgate-Palmolive Company (NYSE:CL)

MOKAN Wealth Management Inc. grew its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 7.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,411 shares of the company’s stock after purchasing an additional 461 shares during the quarter. MOKAN Wealth Management Inc.’s holdings in Colgate-Palmolive were worth $601,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CL. Aviva PLC lifted its position in Colgate-Palmolive by 13.4% during the fourth quarter. Aviva PLC now owns 973,421 shares of the company’s stock worth $88,494,000 after buying an additional 114,855 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Colgate-Palmolive during the 4th quarter valued at about $304,000. Jupiter Asset Management Ltd. lifted its holdings in shares of Colgate-Palmolive by 2.3% during the 4th quarter. Jupiter Asset Management Ltd. now owns 685,718 shares of the company’s stock worth $62,339,000 after acquiring an additional 15,142 shares during the period. Summit Investment Advisors Inc. boosted its position in shares of Colgate-Palmolive by 10.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 32,710 shares of the company’s stock worth $2,974,000 after acquiring an additional 3,187 shares during the last quarter. Finally, Capula Management Ltd purchased a new stake in Colgate-Palmolive in the fourth quarter valued at approximately $374,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CL. UBS Group increased their price target on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the stock a “buy” rating in a research note on Thursday, April 17th. Barclays decreased their target price on Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. Citigroup raised their price target on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the company a “buy” rating in a report on Monday, April 28th. Wall Street Zen downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th. Finally, JPMorgan Chase & Co. raised their target price on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $101.69.

Colgate-Palmolive Stock Down 0.5%

Shares of NYSE CL opened at $88.23 on Wednesday. The company has a debt-to-equity ratio of 8.96, a quick ratio of 0.54 and a current ratio of 0.85. Colgate-Palmolive Company has a 1 year low of $85.32 and a 1 year high of $109.30. The stock’s 50-day simple moving average is $91.26 and its 200-day simple moving average is $90.69. The firm has a market cap of $71.50 billion, a price-to-earnings ratio of 24.92, a PEG ratio of 4.71 and a beta of 0.38.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.05. The company had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.92 billion. Colgate-Palmolive had a return on equity of 461.04% and a net margin of 14.52%. Colgate-Palmolive’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 EPS. As a group, equities analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.36%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive’s dividend payout ratio is currently 58.76%.

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

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.