Envestnet Portfolio Solutions Inc. Trims Stock Position in Colgate-Palmolive (NYSE:CL)

Envestnet Portfolio Solutions Inc. cut its stake in Colgate-Palmolive (NYSE:CL) by 1.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 27,243 shares of the company’s stock after selling 419 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Colgate-Palmolive were worth $2,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of CL. one8zero8 LLC acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth about $300,000. Choate Investment Advisors boosted its stake in shares of Colgate-Palmolive by 4.0% during the fourth quarter. Choate Investment Advisors now owns 9,007 shares of the company’s stock worth $819,000 after buying an additional 350 shares during the period. Van Strum & Towne Inc. acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth about $230,000. Montis Financial LLC acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth about $215,000. Finally, Poinciana Advisors Group LLC acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth about $224,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CL has been the subject of several recent research reports. Morgan Stanley decreased their target price on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. StockNews.com cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Friday, March 14th. UBS Group cut their price target on shares of Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Stifel Nicolaus cut their price target on shares of Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating for the company in a report on Monday, February 3rd. Finally, Wells Fargo & Company cut their price target on shares of Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $101.72.

Colgate-Palmolive Trading Down 0.2 %

Shares of CL opened at $90.29 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. The firm has a 50 day simple moving average of $89.25 and a 200-day simple moving average of $94.38. Colgate-Palmolive has a 1-year low of $85.32 and a 1-year high of $109.30. The stock has a market cap of $73.28 billion, a price-to-earnings ratio of 25.65, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates 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 earnings per share. Equities analysts forecast that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive announced that its Board of Directors has initiated a share buyback program on Thursday, March 20th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.30%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s dividend payout ratio (DPR) is 56.82%.

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.