Thrivent Financial for Lutherans Decreases Stock Holdings in Colgate-Palmolive (NYSE:CL)

Thrivent Financial for Lutherans lessened its holdings in Colgate-Palmolive (NYSE:CL) by 6.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 83,922 shares of the company’s stock after selling 6,101 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Colgate-Palmolive were worth $7,633,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on CL. Barclays reduced their target price on shares of Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Morgan Stanley cut their price objective on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Piper Sandler lowered their target price on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $101.00 price target on shares of Colgate-Palmolive in a research note on Wednesday, January 29th. Finally, TD Cowen reduced their price target on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive has an average rating of “Hold” and an average price target of $101.72.

Colgate-Palmolive Trading Up 0.0 %

Colgate-Palmolive stock opened at $90.30 on Monday. Colgate-Palmolive has a 1 year low of $85.32 and a 1 year high of $109.30. The firm’s 50-day moving average is $89.33 and its 200-day moving average is $94.07. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92. The company has a market cap of $73.28 billion, a P/E ratio of 25.65, a PEG ratio of 4.20 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the company earned $0.87 EPS. On average, equities analysts expect that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive announced that its board has initiated a share repurchase 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 typically a sign that the company’s board believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be paid a dividend of $0.52 per share. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Thursday, April 17th. Colgate-Palmolive’s dividend payout ratio is presently 56.82%.

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.