Huntington National Bank Purchases 5,811 Shares of Colgate-Palmolive (NYSE:CL)

Huntington National Bank lifted its stake in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 3.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 178,640 shares of the company's stock after buying an additional 5,811 shares during the quarter. Huntington National Bank's holdings in Colgate-Palmolive were worth $16,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ascent Group LLC boosted its position in shares of Colgate-Palmolive by 3.1% in the 3rd quarter. Ascent Group LLC now owns 14,457 shares of the company's stock worth $1,501,000 after purchasing an additional 435 shares in the last quarter. HighTower Advisors LLC raised its stake in Colgate-Palmolive by 4.8% during the third quarter. HighTower Advisors LLC now owns 970,040 shares of the company's stock valued at $100,689,000 after buying an additional 44,482 shares during the last quarter. IHT Wealth Management LLC boosted its holdings in Colgate-Palmolive by 37.8% in the third quarter. IHT Wealth Management LLC now owns 21,377 shares of the company's stock worth $2,196,000 after acquiring an additional 5,869 shares in the last quarter. Royal London Asset Management Ltd. grew its stake in shares of Colgate-Palmolive by 3.4% in the third quarter. Royal London Asset Management Ltd. now owns 445,623 shares of the company's stock worth $46,260,000 after acquiring an additional 14,844 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of Colgate-Palmolive by 386.4% during the third quarter. Quarry LP now owns 1,605 shares of the company's stock valued at $167,000 after acquiring an additional 1,275 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

CL has been the topic of several recent analyst reports. Wells Fargo & Company increased their price objective on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a research report on Wednesday, April 2nd. Stifel Nicolaus reduced 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. Barclays boosted their price objective on shares of Colgate-Palmolive from $83.00 to $89.00 and gave the stock an "equal weight" rating in a report on Thursday, March 27th. TD Cowen cut their target price on Colgate-Palmolive from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $101.00 price target on shares of Colgate-Palmolive in a research note on Wednesday, January 29th. One research 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $102.06.

Colgate-Palmolive Stock Performance

NYSE CL traded up $0.99 during trading hours on Tuesday, hitting $90.18. 1,942,277 shares of the company's stock traded hands, compared to its average volume of 4,536,796. Colgate-Palmolive has a 52 week low of $85.32 and a 52 week high of $109.30. The firm has a market capitalization of $73.14 billion, a P/E ratio of 25.65, a P/E/G ratio of 4.20 and a beta of 0.40. 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 business's fifty day moving average price is $90.23 and its two-hundred day moving average price is $93.04.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued 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 posted $0.87 EPS. Equities research analysts predict 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 given a $0.52 dividend. This is a boost from Colgate-Palmolive's previous quarterly dividend of $0.50. The ex-dividend date is Thursday, April 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.31%. Colgate-Palmolive's dividend payout ratio is presently 59.09%.

Colgate-Palmolive declared that its board has authorized a share buyback plan 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 shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

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.