Brown Miller Wealth Management LLC Buys Shares of 5,865 Colgate-Palmolive (NYSE:CL)

Brown Miller Wealth Management LLC bought a new stake in Colgate-Palmolive (NYSE:CL - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,865 shares of the company's stock, valued at approximately $550,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Colgate-Palmolive by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 81,303,059 shares of the company's stock valued at $7,391,261,000 after acquiring an additional 588,230 shares during the last quarter. Geode Capital Management LLC grew its position in Colgate-Palmolive by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 20,518,014 shares of the company's stock valued at $1,868,723,000 after acquiring an additional 324,683 shares during the last quarter. Norges Bank bought a new position in Colgate-Palmolive in the fourth quarter valued at about $912,375,000. Northern Trust Corp grew its position in Colgate-Palmolive by 11.7% in the fourth quarter. Northern Trust Corp now owns 9,497,819 shares of the company's stock valued at $863,447,000 after acquiring an additional 993,328 shares during the last quarter. Finally, Amundi grew its position in Colgate-Palmolive by 12.8% in the fourth quarter. Amundi now owns 9,200,144 shares of the company's stock valued at $806,015,000 after acquiring an additional 1,040,604 shares during the last quarter. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Price Performance

Shares of CL opened at $90.20 on Monday. Colgate-Palmolive has a 52-week low of $85.32 and a 52-week high of $109.30. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92. The business's 50 day moving average price is $91.75 and its two-hundred day moving average price is $90.99. The firm has a market cap of $73.10 billion, a PE ratio of 25.63, a price-to-earnings-growth ratio of 4.20 and a beta of 0.38.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.05. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. The company had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. During the same period in the prior year, the firm earned $0.86 earnings per share. Colgate-Palmolive's revenue for the quarter was down 3.0% on a year-over-year basis. On average, equities analysts anticipate that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive declared that its Board of Directors has authorized a share repurchase program on Thursday, March 20th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 6.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive's payout ratio is 58.76%.

Analyst Ratings Changes

Several analysts have recently weighed in on CL shares. Citigroup boosted their price target on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a report on Monday, April 28th. Barclays reduced their price target on Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. UBS Group boosted their price target on Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Wall Street Zen cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, Wells Fargo & Company upped their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Colgate-Palmolive presently has a consensus rating of "Hold" and an average price target of $102.12.

Colgate-Palmolive 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.

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