Sagespring Wealth Partners LLC Makes New Investment in Colgate-Palmolive (NYSE:CL)

Sagespring Wealth Partners LLC acquired a new stake in shares of Colgate-Palmolive (NYSE:CL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,874 shares of the company's stock, valued at approximately $625,000.

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

Colgate-Palmolive Stock Performance

NYSE:CL traded up $2.00 during mid-day trading on Friday, hitting $95.49. The stock had a trading volume of 7,029,569 shares, compared to its average volume of 4,591,385. 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 company has a 50 day simple moving average of $91.15 and a 200-day simple moving average of $92.48. The stock has a market capitalization of $77.45 billion, a price-to-earnings ratio of 27.13, a P/E/G ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a 52 week low of $85.32 and a 52 week high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings data 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 period in the prior year, the company earned $0.87 earnings per share. On average, research analysts expect that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive announced that its board has approved a stock repurchase plan on Thursday, March 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows 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 of directors believes its shares are undervalued.

Colgate-Palmolive Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, April 17th. This is a boost from Colgate-Palmolive's previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 2.18%. Colgate-Palmolive's dividend payout ratio (DPR) is 59.09%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Morgan Stanley reduced their price objective on shares of Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. TD Cowen dropped their price objective on shares of Colgate-Palmolive from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, January 8th. Raymond James restated an "outperform" rating and issued a $105.00 target price (down from $110.00) on shares of Colgate-Palmolive in a report 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 lifted their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $102.17.

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.