Wealth Enhancement Advisory Services LLC Acquires 63,419 Shares of Colgate-Palmolive Company (NYSE:CL)

Wealth Enhancement Advisory Services LLC increased its holdings in Colgate-Palmolive Company (NYSE:CL) by 23.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 329,826 shares of the company’s stock after purchasing an additional 63,419 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Colgate-Palmolive were worth $30,905,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC increased its position in Colgate-Palmolive by 4.4% during the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after acquiring an additional 450 shares during the last quarter. Bernard Wealth Management Corp. bought a new position in Colgate-Palmolive during the fourth quarter valued at $36,000. Private Advisor Group LLC increased its position in Colgate-Palmolive by 12.0% during the fourth quarter. Private Advisor Group LLC now owns 77,231 shares of the company’s stock valued at $7,021,000 after acquiring an additional 8,279 shares during the last quarter. Ieq Capital LLC increased its position in Colgate-Palmolive by 25.2% during the fourth quarter. Ieq Capital LLC now owns 58,008 shares of the company’s stock valued at $5,274,000 after acquiring an additional 11,666 shares during the last quarter. Finally, Forte Capital LLC ADV increased its position in Colgate-Palmolive by 3.4% during the fourth quarter. Forte Capital LLC ADV now owns 19,133 shares of the company’s stock valued at $1,739,000 after acquiring an additional 627 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on CL shares. Citigroup boosted their price objective on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the company a “buy” rating in a research report on Monday, April 28th. UBS Group boosted their price objective on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Barclays cut their price target on shares of Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating on the stock in a report on Friday, April 11th. Wall Street Zen cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. Finally, Piper Sandler cut their price target on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $102.12.

Colgate-Palmolive Stock Down 0.4%

NYSE:CL opened at $87.85 on Friday. Colgate-Palmolive Company has a 1-year low of $85.32 and a 1-year high of $109.30. The company has a 50-day moving average of $91.50 and a 200 day moving average of $90.80. The firm has a market cap of $71.19 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 4.68 and a beta of 0.38. The company has a debt-to-equity ratio of 8.96, a current ratio of 0.85 and a quick ratio of 0.54.

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

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive’s payout ratio is 58.76%.

Colgate-Palmolive announced that its board has approved a stock buyback plan on Thursday, March 20th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to purchase up to 6.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

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.