Miracle Mile Advisors LLC Increases Stake in Colgate-Palmolive (NYSE:CL)

Miracle Mile Advisors LLC boosted its position in Colgate-Palmolive (NYSE:CL) by 3.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,651 shares of the company’s stock after acquiring an additional 429 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Colgate-Palmolive were worth $1,185,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in CL. Axxcess Wealth Management LLC increased its stake in Colgate-Palmolive by 0.3% during the 4th quarter. Axxcess Wealth Management LLC now owns 38,786 shares of the company’s stock worth $3,526,000 after buying an additional 117 shares during the period. Wescott Financial Advisory Group LLC boosted its position in Colgate-Palmolive by 3.5% in the 4th quarter. Wescott Financial Advisory Group LLC now owns 3,517 shares of the company’s stock valued at $320,000 after buying an additional 119 shares during the last quarter. Aberdeen Wealth Management LLC grew its stake in shares of Colgate-Palmolive by 0.6% during the fourth quarter. Aberdeen Wealth Management LLC now owns 20,651 shares of the company’s stock valued at $1,877,000 after acquiring an additional 125 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its position in shares of Colgate-Palmolive by 4.0% during the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 3,388 shares of the company’s stock worth $317,000 after acquiring an additional 130 shares during the last quarter. Finally, TCW Group Inc. increased its position in shares of Colgate-Palmolive by 0.8% during the fourth quarter. TCW Group Inc. now owns 15,932 shares of the company’s stock worth $1,448,000 after acquiring an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Piper Sandler reduced their price target on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating for the company in a report on Monday, March 31st. Wall Street Zen cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th. Wells Fargo & Company raised their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. upped their price target on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, April 28th. Finally, Citigroup boosted their target price on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the stock a “buy” rating in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Colgate-Palmolive has a consensus rating of “Hold” and an average target price of $102.12.

Colgate-Palmolive Stock Performance

Shares of CL opened at $90.94 on Tuesday. Colgate-Palmolive 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 13.40, a quick ratio of 0.58 and a current ratio of 0.92. The company has a market cap of $73.70 billion, a price-to-earnings ratio of 25.83, a price-to-earnings-growth ratio of 4.20 and a beta of 0.38. The firm has a fifty day moving average of $91.71 and a 200-day moving average of $91.12.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. The business had revenue of $4.91 billion for the quarter, compared to analysts’ expectations of $4.92 billion. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. The company’s revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 earnings per share. As a group, equities analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive declared that its Board of Directors has initiated a share buyback program on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th were given a dividend of $0.52 per share. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date was Thursday, April 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.29%. Colgate-Palmolive’s dividend payout ratio (DPR) is 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.