Azimuth Capital Investment Management LLC Sells 2,940 Shares of Colgate-Palmolive (NYSE:CL)

Azimuth Capital Investment Management LLC reduced its position in Colgate-Palmolive (NYSE:CL - Free Report) by 5.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 49,150 shares of the company's stock after selling 2,940 shares during the quarter. Azimuth Capital Investment Management LLC's holdings in Colgate-Palmolive were worth $4,468,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MML Investors Services LLC boosted its position in Colgate-Palmolive by 117.6% during the 3rd quarter. MML Investors Services LLC now owns 83,184 shares of the company's stock worth $8,635,000 after purchasing an additional 44,954 shares during the period. Continuum Advisory LLC raised its holdings in shares of Colgate-Palmolive by 93.4% during the 3rd quarter. Continuum Advisory LLC now owns 762 shares of the company's stock valued at $79,000 after buying an additional 368 shares during the period. Barclays PLC lifted its position in Colgate-Palmolive by 38.7% during the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company's stock worth $793,542,000 after acquiring an additional 2,132,747 shares in the last quarter. M&T Bank Corp lifted its position in Colgate-Palmolive by 8.2% during the 3rd quarter. M&T Bank Corp now owns 288,050 shares of the company's stock worth $29,903,000 after acquiring an additional 21,862 shares in the last quarter. Finally, Coldstream Capital Management Inc. boosted its holdings in Colgate-Palmolive by 9.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 11,699 shares of the company's stock worth $1,202,000 after acquiring an additional 990 shares during the period. Institutional investors and hedge funds own 80.41% of the company's stock.

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Analysts Set New Price Targets

Several research analysts recently commented on CL shares. UBS Group cut their price target on Colgate-Palmolive from $104.00 to $100.00 and set a "buy" rating on the stock in a research note on Monday, February 3rd. Barclays cut their target price on Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating on the stock in a research report on Friday. Stifel Nicolaus decreased their price target on shares of Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating for the company in a research report on Monday, February 3rd. 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. Finally, Morgan Stanley lowered their price objective on Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $101.67.

Colgate-Palmolive Stock Up 0.0 %

Shares of NYSE CL traded up $0.01 during mid-day trading on Tuesday, reaching $94.99. The company had a trading volume of 1,170,802 shares, compared to its average volume of 4,565,452. The stock has a fifty day moving average of $90.65 and a two-hundred day moving average of $92.51. The company has a market capitalization of $77.04 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a 12-month low of $85.32 and a 12-month high of $109.30. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter last year, the business earned $0.87 earnings per share. As a group, equities research analysts expect that Colgate-Palmolive will post 3.75 EPS for the current year.

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 issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.19%. This is a positive change from Colgate-Palmolive's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, April 17th. Colgate-Palmolive's payout ratio is currently 59.09%.

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

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.