Knights of Columbus Asset Advisors LLC Sells 1,862 Shares of Colgate-Palmolive (NYSE:CL)

Knights of Columbus Asset Advisors LLC lessened its holdings in shares of Colgate-Palmolive (NYSE:CL) by 4.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 40,785 shares of the company’s stock after selling 1,862 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Colgate-Palmolive were worth $3,708,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Kohmann Bosshard Financial Services LLC purchased a new position in Colgate-Palmolive during the 4th quarter valued at approximately $26,000. Centricity Wealth Management LLC purchased a new position in shares of Colgate-Palmolive in the 4th quarter worth approximately $27,000. Union Bancaire Privee UBP SA purchased a new position in shares of Colgate-Palmolive in the 4th quarter worth approximately $32,000. Briaud Financial Planning Inc purchased a new position in Colgate-Palmolive during the 4th quarter valued at $32,000. Finally, Wintrust Investments LLC purchased a new position in Colgate-Palmolive during the 4th quarter valued at $33,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

NYSE CL opened at $90.30 on Friday. 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 has a 52-week low of $85.32 and a 52-week high of $109.30. The business’s 50-day moving average price is $89.33 and its 200 day moving average price is $94.27. The firm has a market cap of $73.28 billion, a P/E ratio of 25.65, a P/E/G ratio of 4.20 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.01. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. During the same period last year, the firm posted $0.87 EPS. On average, equities research analysts expect that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The business also recently disclosed 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 is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Thursday, April 17th. Colgate-Palmolive’s payout ratio is currently 56.82%.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Piper Sandler decreased their target price on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Raymond James restated an “outperform” rating and set a $105.00 target price (down from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. Barclays dropped their price target on Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. JPMorgan Chase & Co. boosted their price target on Colgate-Palmolive from $97.00 to $99.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Finally, StockNews.com downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $101.72.

Colgate-Palmolive Company 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.