FineMark National Bank & Trust Increases Position in Colgate-Palmolive (NYSE:CL)

FineMark National Bank & Trust lifted its stake in Colgate-Palmolive (NYSE:CL) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,413 shares of the company’s stock after acquiring an additional 392 shares during the period. FineMark National Bank & Trust’s holdings in Colgate-Palmolive were worth $1,674,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC grew its holdings in Colgate-Palmolive by 16.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 6,752 shares of the company’s stock worth $591,000 after purchasing an additional 943 shares during the last quarter. Peak Financial Advisors LLC purchased a new position in Colgate-Palmolive during the 4th quarter worth $1,315,000. Fiduciary Alliance LLC acquired a new position in Colgate-Palmolive during the 4th quarter valued at about $4,066,000. Impact Partnership Wealth LLC purchased a new stake in Colgate-Palmolive in the fourth quarter valued at about $803,000. Finally, Barclays PLC boosted its holdings in Colgate-Palmolive by 38.7% in the third 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. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 1.5 %

CL stock opened at $89.52 on Wednesday. The firm’s fifty day moving average is $89.44 and its 200 day moving average is $93.82. The firm has a market cap of $72.65 billion, a PE ratio of 25.43, a P/E/G ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a one year low of $85.32 and a one year 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) last announced its quarterly earnings results on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, beating 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 period last year, the firm posted $0.87 earnings per share. On average, research analysts forecast that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently announced 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. This is a positive change 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 dividend yield of 2.32%. Colgate-Palmolive’s dividend payout ratio (DPR) is 56.82%.

Colgate-Palmolive declared that its board has authorized a share buyback program on Thursday, March 20th that authorizes the company to buyback $5.00 billion in 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 a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have recently issued reports on CL. Piper Sandler cut their price objective on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Morgan Stanley cut their price target on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Stifel Nicolaus lowered their price objective on shares of Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating for the company in a research note on Monday, February 3rd. Wells Fargo & Company cut their target price on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $101.00 target price on shares of Colgate-Palmolive in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $101.72.

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.