Bartlett & CO. Wealth Management LLC Sells 4,433 Shares of Colgate-Palmolive Company (NYSE:CL)

Bartlett & CO. Wealth Management LLC cut its holdings in Colgate-Palmolive Company (NYSE:CL) by 4.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 102,005 shares of the company’s stock after selling 4,433 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Colgate-Palmolive were worth $9,558,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in shares of Colgate-Palmolive by 4.4% in the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after purchasing an additional 450 shares during the last quarter. Bernard Wealth Management Corp. purchased a new stake in Colgate-Palmolive during the 4th quarter valued at $36,000. Lake Street Advisors Group LLC lifted its position in Colgate-Palmolive by 4.4% in the fourth quarter. Lake Street Advisors Group LLC now owns 5,216 shares of the company’s stock worth $474,000 after buying an additional 221 shares during the last quarter. Bryn Mawr Capital Management LLC boosted its stake in Colgate-Palmolive by 91.3% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 20,433 shares of the company’s stock worth $1,858,000 after buying an additional 9,751 shares during the period. Finally, Checchi Capital Advisers LLC increased its position in Colgate-Palmolive by 2.1% during the fourth quarter. Checchi Capital Advisers LLC now owns 7,893 shares of the company’s stock valued at $718,000 after acquiring an additional 164 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CL. JPMorgan Chase & Co. raised their target price on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. Barclays decreased their price objective on shares of Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating for the company in a research note on Friday, April 11th. Piper Sandler cut their target price on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a research note on Monday, March 31st. Wall Street Zen downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. Finally, Wells Fargo & Company boosted their price objective on Colgate-Palmolive from $83.00 to $88.00 and gave the company an “underweight” rating in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $101.69.

Colgate-Palmolive Stock Performance

CL stock 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 business has a 50-day moving average price of $90.99 and a 200 day moving average price of $90.64. The company has a market capitalization of $71.19 billion, a P/E ratio of 24.82, a PEG ratio of 4.66 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 posted its quarterly earnings results on Friday, April 25th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.86 by $0.05. Colgate-Palmolive had a net margin of 14.52% and a return on equity of 461.04%. The business had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.92 billion. During the same quarter in the previous year, the business posted $0.86 EPS. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. As a group, equities research analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

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

Colgate-Palmolive declared that its Board of Directors has initiated a share buyback plan on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management 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.