Envestnet Asset Management Inc. Has $49.30 Million Position in Colgate-Palmolive (NYSE:CL)

Envestnet Asset Management Inc. reduced its stake in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 542,257 shares of the company's stock after selling 9,044 shares during the quarter. Envestnet Asset Management Inc. owned 0.07% of Colgate-Palmolive worth $49,297,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. UBS Group reduced their target price on shares of Colgate-Palmolive from $104.00 to $100.00 and set a "buy" rating on the stock in a research report on Monday, February 3rd. Raymond James reaffirmed an "outperform" rating and set a $105.00 price objective (down previously from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. Piper Sandler lowered their target price on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. JPMorgan Chase & Co. cut their price target on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Finally, 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. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $101.67.

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Colgate-Palmolive Trading Up 0.5 %

Shares of NYSE CL traded up $0.45 during midday trading on Wednesday, reaching $94.71. 699,202 shares of the stock were exchanged, compared to its average volume of 5,225,694. Colgate-Palmolive has a 12 month low of $85.32 and a 12 month high of $109.30. The company has a market capitalization of $76.82 billion, a price-to-earnings ratio of 26.91, a P/E/G ratio of 4.20 and a beta of 0.40. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58. The business has a 50-day simple moving average of $90.82 and a two-hundred day simple moving average of $92.53.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its earnings results on Friday, January 31st. The company reported $0.91 earnings per share (EPS) 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 in the previous 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 business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.20%. This is a positive change from Colgate-Palmolive's previous quarterly dividend of $0.50. Colgate-Palmolive's payout ratio is presently 59.09%.

Colgate-Palmolive announced that its Board of Directors has approved a share repurchase program on Thursday, March 20th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is 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.