Joseph Group Capital Management Invests $64,000 in Colgate-Palmolive (NYSE:CL)

Joseph Group Capital Management purchased a new stake in shares of Colgate-Palmolive (NYSE:CL) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 700 shares of the company’s stock, valued at approximately $64,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CL. Chicago Partners Investment Group LLC increased its holdings in shares of Colgate-Palmolive by 16.2% during the fourth quarter. Chicago Partners Investment Group LLC now owns 6,752 shares of the company’s stock worth $591,000 after buying an additional 943 shares in the last quarter. Peak Financial Advisors LLC acquired a new position in Colgate-Palmolive in the 4th quarter worth about $1,315,000. Fiduciary Alliance LLC bought a new position in Colgate-Palmolive in the fourth quarter valued at about $4,066,000. Impact Partnership Wealth LLC acquired a new stake in shares of Colgate-Palmolive during the fourth quarter valued at about $803,000. Finally, Barclays PLC grew its holdings in shares of Colgate-Palmolive by 38.7% during the third quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock worth $793,542,000 after purchasing an additional 2,132,747 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on CL shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $101.00 target price on shares of Colgate-Palmolive in a research report on Wednesday, January 29th. Stifel Nicolaus cut their price target on shares of Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating on the stock in a report on Monday, February 3rd. StockNews.com downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th. UBS Group cut their target price on Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Finally, Raymond James reissued an “outperform” rating and issued a $105.00 price target (down previously from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $102.06.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $92.73 on Friday. The firm has a market capitalization of $75.25 billion, a P/E ratio of 26.34, a P/E/G ratio of 4.20 and a beta of 0.40. The firm’s 50-day moving average price is $89.69 and its 200-day moving average price is $93.61. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. Colgate-Palmolive has a 1-year low of $85.32 and a 1-year high of $109.30.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, topping 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 quarter in the prior year, the company posted $0.87 EPS. Equities research analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be given a $0.52 dividend. The ex-dividend date is Thursday, April 17th. This represents a $2.08 annualized dividend and a yield of 2.24%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 59.09%.

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