Siemens Fonds Invest GmbH Sells 18,842 Shares of Colgate-Palmolive (NYSE:CL)

Siemens Fonds Invest GmbH cut its holdings in shares of Colgate-Palmolive (NYSE:CL) by 78.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,282 shares of the company’s stock after selling 18,842 shares during the quarter. Siemens Fonds Invest GmbH’s holdings in Colgate-Palmolive were worth $480,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CL. Kohmann Bosshard Financial Services LLC purchased a new position in Colgate-Palmolive during the 4th quarter valued at $26,000. Centricity Wealth Management LLC bought a new stake in shares of Colgate-Palmolive during the 4th quarter valued at about $27,000. Union Bancaire Privee UBP SA bought a new stake in shares of Colgate-Palmolive during the 4th quarter valued at about $32,000. Briaud Financial Planning Inc purchased a new position in shares of Colgate-Palmolive during the fourth quarter valued at about $32,000. Finally, Wintrust Investments LLC bought a new position in Colgate-Palmolive in the fourth quarter worth about $33,000. Institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CL. Piper Sandler cut their price objective on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. Royal Bank of Canada restated a “sector perform” rating and set a $101.00 price target on shares of Colgate-Palmolive in a research report on Wednesday, January 29th. Morgan Stanley reduced their price target on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Barclays lowered their price objective on Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating for the company in a research report on Friday, April 11th. Finally, Wells Fargo & Company upped their target price on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Hold” and an average target price of $102.12.

Colgate-Palmolive Trading Up 1.8%

Shares of NYSE:CL opened at $91.26 on Friday. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58. Colgate-Palmolive has a 1 year low of $85.32 and a 1 year high of $109.30. The company has a market cap of $73.96 billion, a P/E ratio of 25.93, a PEG ratio of 4.20 and a beta of 0.39. The stock’s fifty day moving average price is $91.65 and its 200-day moving average price is $91.29.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, April 25th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The firm had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.92 billion. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 earnings per share. Sell-side analysts expect that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.28%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date was Thursday, April 17th. Colgate-Palmolive’s dividend payout ratio is presently 58.76%.

Colgate-Palmolive announced that its board has approved a share 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 stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.

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.