Rodgers Brothers Inc. Reduces Stake in Colgate-Palmolive (NYSE:CL)

Rodgers Brothers Inc. cut its stake in shares of Colgate-Palmolive (NYSE:CL) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,571 shares of the company’s stock after selling 588 shares during the period. Colgate-Palmolive accounts for about 1.0% of Rodgers Brothers Inc.’s portfolio, making the stock its 23rd biggest position. Rodgers Brothers Inc.’s holdings in Colgate-Palmolive were worth $7,961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Kohmann Bosshard Financial Services LLC purchased a new stake in Colgate-Palmolive during the 4th quarter valued at $26,000. Centricity Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive in the fourth quarter valued at $27,000. Union Bancaire Privee UBP SA bought a new stake in shares of Colgate-Palmolive in the 4th quarter worth about $32,000. Briaud Financial Planning Inc purchased a new position in shares of Colgate-Palmolive during the 4th quarter worth about $32,000. Finally, Wintrust Investments LLC bought a new position in Colgate-Palmolive during the 4th quarter valued at about $33,000. 80.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CL shares. Morgan Stanley dropped their target price on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Piper Sandler dropped their price objective on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Raymond James reiterated an “outperform” rating and issued a $105.00 target price (down previously from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. TD Cowen cut their price target on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, Wells Fargo & Company decreased their price objective on shares of Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Hold” and an average target price of $102.06.

Colgate-Palmolive Trading Down 0.5 %

NYSE:CL opened at $92.73 on Monday. The company has a market capitalization of $75.25 billion, a P/E ratio of 26.34, a PEG 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. Colgate-Palmolive has a 12 month low of $85.32 and a 12 month high of $109.30. The firm has a fifty day simple moving average of $89.69 and a 200-day simple moving average of $93.52.

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, 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 quarter in the prior year, the firm posted $0.87 EPS. On average, equities research analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Thursday, April 17th. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s payout ratio is 59.09%.

Colgate-Palmolive declared that its board has initiated a stock repurchase plan on Thursday, March 20th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors 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.