Proficio Capital Partners LLC Buys Shares of 185,802 Colgate-Palmolive (NYSE:CL)

Proficio Capital Partners LLC bought a new position in Colgate-Palmolive (NYSE:CL) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 185,802 shares of the company’s stock, valued at approximately $186,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new position in Colgate-Palmolive in the fourth quarter worth approximately $26,000. Centricity Wealth Management LLC acquired a new stake in Colgate-Palmolive in the fourth quarter valued at approximately $27,000. Union Bancaire Privee UBP SA bought a new stake in Colgate-Palmolive in the fourth quarter worth approximately $32,000. Bernard Wealth Management Corp. acquired a new position in shares of Colgate-Palmolive during the 4th quarter worth $36,000. Finally, Roxbury Financial LLC bought a new position in shares of Colgate-Palmolive during the 4th quarter valued at $43,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Up 1.3 %

Shares of CL opened at $93.25 on Friday. The stock’s 50-day moving average price is $89.62 and its 200 day moving average price is $93.80. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40. The firm has a market capitalization of $75.68 billion, a price-to-earnings ratio of 26.49, a P/E/G ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a 12-month low of $85.32 and a 12-month high of $109.30.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating 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 previous year, the firm earned $0.87 EPS. As a group, research analysts predict that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive announced that its board has authorized a stock 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 purchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

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. This represents a $2.08 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Thursday, April 17th. Colgate-Palmolive’s payout ratio is 59.09%.

Wall Street Analyst Weigh In

CL has been the subject of a number of recent research reports. Barclays upped their price objective on shares of Colgate-Palmolive from $83.00 to $89.00 and gave the stock an “equal weight” rating in a report on Thursday. Morgan Stanley decreased their price target on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $101.00 price objective on shares of Colgate-Palmolive in a research note on Wednesday, January 29th. Raymond James reaffirmed an “outperform” rating and set a $105.00 target price (down previously from $110.00) on shares of Colgate-Palmolive in a research report on Monday, February 3rd. Finally, UBS Group dropped their price target on shares of Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $102.06.

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.