Colgate-Palmolive (NYSE:CL) Stock Position Lowered by TD Private Client Wealth LLC

TD Private Client Wealth LLC trimmed its position in shares of Colgate-Palmolive (NYSE:CL) by 91.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,710 shares of the company’s stock after selling 29,610 shares during the period. TD Private Client Wealth LLC’s holdings in Colgate-Palmolive were worth $246,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Axxcess Wealth Management LLC raised its position in Colgate-Palmolive by 0.3% during the fourth quarter. Axxcess Wealth Management LLC now owns 38,786 shares of the company’s stock valued at $3,526,000 after buying an additional 117 shares during the period. Commonwealth Financial Services LLC grew its position in Colgate-Palmolive by 4.5% during the fourth quarter. Commonwealth Financial Services LLC now owns 2,716 shares of the company’s stock valued at $247,000 after purchasing an additional 118 shares in the last quarter. D Orazio & Associates Inc. increased its stake in Colgate-Palmolive by 4.2% in the 4th quarter. D Orazio & Associates Inc. now owns 2,982 shares of the company’s stock valued at $271,000 after buying an additional 120 shares during the period. Lantz Financial LLC increased its stake in shares of Colgate-Palmolive by 0.6% in the fourth quarter. Lantz Financial LLC now owns 20,140 shares of the company’s stock worth $1,831,000 after acquiring an additional 122 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC raised its holdings in shares of Colgate-Palmolive by 4.2% during the third quarter. Horizon Kinetics Asset Management LLC now owns 3,102 shares of the company’s stock worth $322,000 after acquiring an additional 124 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CL. Morgan Stanley cut their price target on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Wells Fargo & Company decreased their target price on shares of Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. TD Cowen lowered their price objective on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Stifel Nicolaus decreased their target price on Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating for the company in a research report on Monday, February 3rd. Finally, Barclays lowered their target price on Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $101.72.

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $90.91 on Tuesday. Colgate-Palmolive has a 1-year low of $85.32 and a 1-year high of $109.30. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. The stock has a market cap of $73.78 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. The stock’s fifty day simple moving average is $89.40 and its two-hundred day simple moving average is $93.95.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate 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 firm earned $0.87 EPS. As a group, analysts forecast that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

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

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be issued a dividend of $0.52 per share. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Thursday, April 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is 56.82%.

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.