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

Brookstone Capital Management grew its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 508.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,439 shares of the company's stock after purchasing an additional 98,984 shares during the period. Brookstone Capital Management's holdings in Colgate-Palmolive were worth $11,098,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CL. Westend Capital Management LLC raised its stake in shares of Colgate-Palmolive by 111.1% in the first quarter. Westend Capital Management LLC now owns 266 shares of the company's stock valued at $25,000 after acquiring an additional 140 shares in the last quarter. Vermillion Wealth Management Inc. acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at $31,000. Briaud Financial Planning Inc acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at $32,000. Wintrust Investments LLC acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at $33,000. Finally, Bernard Wealth Management Corp. acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at $33,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CL has been the topic of several analyst reports. UBS Group increased their price objective on Colgate-Palmolive from $105.00 to $109.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Piper Sandler reduced their price objective on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a research note on Monday, March 31st. Citigroup raised their price target on Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a research note on Monday, April 28th. Barclays cut their price target on Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. Finally, Wells Fargo & Company raised their price target on Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $101.69.

Colgate-Palmolive Stock Performance

NYSE:CL traded down $0.65 during trading hours on Friday, reaching $91.75. 3,300,939 shares of the company's stock were exchanged, compared to its average volume of 4,812,485. The firm has a market capitalization of $74.36 billion, a price-to-earnings ratio of 25.92, a P/E/G ratio of 4.93 and a beta of 0.37. Colgate-Palmolive Company has a 1-year low of $85.32 and a 1-year high of $109.30. The company has a 50-day moving average of $90.61 and a 200 day moving average of $90.54. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 8.96.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. Colgate-Palmolive had a return on equity of 461.04% and a net margin of 14.52%. The company had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.92 billion. During the same period last year, the business posted $0.86 EPS. The company's revenue was down 3.0% on a year-over-year basis. Research analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive announced that its Board of Directors has authorized a share buyback plan on Thursday, March 20th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.08 annualized dividend and a dividend yield of 2.27%. Colgate-Palmolive's dividend payout ratio (DPR) is currently 58.76%.

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.