Brookstone Capital Management Purchases 98,984 Shares of Colgate-Palmolive Company (NYSE:CL)

Brookstone Capital Management raised its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 508.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,439 shares of the company's stock after acquiring an additional 98,984 shares during the quarter. Brookstone Capital Management's holdings in Colgate-Palmolive were worth $11,098,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of CL. Norges Bank purchased a new position in shares of Colgate-Palmolive during the 4th quarter valued at $912,375,000. Diamond Hill Capital Management Inc. bought a new position in shares of Colgate-Palmolive in the 4th quarter valued at about $348,718,000. AMF Tjanstepension AB raised its stake in shares of Colgate-Palmolive by 1,088.8% during the fourth quarter. AMF Tjanstepension AB now owns 2,569,394 shares of the company's stock valued at $233,584,000 after acquiring an additional 2,353,268 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of Colgate-Palmolive by 35.6% during the fourth quarter. Deutsche Bank AG now owns 6,922,994 shares of the company's stock worth $629,369,000 after buying an additional 1,816,865 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Colgate-Palmolive in the fourth quarter worth about $132,405,000. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock traded up $0.33 during trading on Monday, reaching $93.11. The company had a trading volume of 3,251,243 shares, compared to its average volume of 4,806,835. Colgate-Palmolive Company has a 1-year low of $85.32 and a 1-year high of $109.30. The company has a debt-to-equity ratio of 8.96, a quick ratio of 0.54 and a current ratio of 0.85. The firm's 50-day simple moving average is $90.61 and its 200 day simple moving average is $90.52. The firm has a market capitalization of $75.46 billion, a PE ratio of 26.33, a price-to-earnings-growth ratio of 4.93 and a beta of 0.37.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted 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 analyst estimates of $4.92 billion. During the same quarter in the prior year, the company earned $0.86 earnings per share. Colgate-Palmolive's revenue was down 3.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.23%. Colgate-Palmolive's dividend payout ratio is currently 58.76%.

Colgate-Palmolive announced that its board has authorized a share buyback plan on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts recently commented on CL shares. Wells Fargo & Company raised their price objective on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a research note on Wednesday, April 2nd. Barclays dropped their target price on Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. Piper Sandler dropped their price target on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. UBS Group upped their price target on Colgate-Palmolive from $105.00 to $109.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Finally, Wall Street Zen downgraded Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Colgate-Palmolive currently has a consensus rating of "Hold" and a consensus price target of $101.69.

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.