Brookstone Capital Management Boosts Stock Position in Colgate-Palmolive (NYSE:CL)

Posted by on Mar 21st, 2023

Brookstone Capital Management boosted its holdings in Colgate-Palmolive (NYSE:CL – Get Rating) by 4.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,219 shares of the company’s stock after buying an additional 718 shares during the quarter. Brookstone Capital Management’s holdings in Colgate-Palmolive were worth $1,377,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Equitable Holdings Inc. increased its holdings in Colgate-Palmolive by 1.7% during the third quarter. Equitable Holdings Inc. now owns 7,780 shares of the company’s stock worth $547,000 after buying an additional 133 shares during the last quarter. Lumature Wealth Partners LLC boosted its position in Colgate-Palmolive by 3.3% during the third quarter. Lumature Wealth Partners LLC now owns 4,199 shares of the company’s stock worth $295,000 after purchasing an additional 135 shares during the period. Perigon Wealth Management LLC boosted its position in Colgate-Palmolive by 1.3% during the second quarter. Perigon Wealth Management LLC now owns 10,898 shares of the company’s stock worth $873,000 after purchasing an additional 140 shares during the period. Nicholas Hoffman & Company LLC. boosted its position in Colgate-Palmolive by 0.9% during the third quarter. Nicholas Hoffman & Company LLC. now owns 15,913 shares of the company’s stock worth $1,118,000 after purchasing an additional 141 shares during the period. Finally, East Coast Asset Management LLC. boosted its position in Colgate-Palmolive by 0.6% during the third quarter. East Coast Asset Management LLC. now owns 22,376 shares of the company’s stock worth $1,572,000 after purchasing an additional 142 shares during the period. Hedge funds and other institutional investors own 77.63% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of CL opened at $73.08 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 1.28 and a debt-to-equity ratio of 10.84. The business’s fifty day moving average is $74.07 and its 200 day moving average is $74.97. Colgate-Palmolive has a 12-month low of $67.84 and a 12-month high of $83.81. The stock has a market cap of $60.68 billion, a P/E ratio of 34.31, a P/E/G ratio of 3.75 and a beta of 0.48.

Colgate-Palmolive (NYSE:CL – Get Rating) last issued its quarterly earnings data on Friday, January 27th. The company reported $0.77 earnings per share for the quarter, meeting the consensus estimate of $0.77. Colgate-Palmolive had a return on equity of 317.08% and a net margin of 9.93%. The business had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.58 billion. During the same period last year, the business earned $0.79 EPS. The business’s revenue was up 5.1% on a year-over-year basis. Sell-side analysts anticipate that Colgate-Palmolive will post 3.1 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Friday, April 21st will be paid a $0.48 dividend. The ex-dividend date is Thursday, April 20th. This represents a $1.92 annualized dividend and a yield of 2.63%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.47. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 88.26%.

Analyst Ratings Changes

CL has been the subject of a number of recent research reports. TheStreet cut shares of Colgate-Palmolive from a “b” rating to a “c+” rating in a research report on Friday, January 27th. Wolfe Research started coverage on Colgate-Palmolive in a research note on Monday, November 21st. They set a “market perform” rating for the company. StockNews.com started coverage on Colgate-Palmolive in a research note on Thursday, March 16th. They set a “hold” rating for the company. Morgan Stanley raised Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and set a $82.00 target price for the company in a research note on Monday, January 30th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Colgate-Palmolive from $84.00 to $80.00 in a research note on Monday. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus target price of $81.73.

Colgate-Palmolive Company Profile

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Colgate-Palmolive Co is engaged in the manufacturing and distribution of consumer products. It operates through the Oral, Personal and Home Care, and Pet Nutrition segments. The Oral, Personal and Home Care segment represents North America, Latin America, Europe, Asia Pacific, and Africa or Eurasia, all of which sell to a variety of retail and wholesale customers and distributors.

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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