Brighton Jones LLC Increases Position in Colgate-Palmolive (NYSE:CL)

Brighton Jones LLC grew its holdings in Colgate-Palmolive (NYSE:CL) by 2.1% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 10,801 shares of the company’s stock after buying an additional 223 shares during the period. Brighton Jones LLC’s holdings in Colgate-Palmolive were worth $1,012,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Kohmann Bosshard Financial Services LLC acquired a new stake in Colgate-Palmolive in the fourth quarter valued at about $26,000. Centricity Wealth Management LLC acquired a new stake in Colgate-Palmolive in the fourth quarter valued at about $27,000. Vermillion Wealth Management Inc. acquired a new stake in Colgate-Palmolive in the fourth quarter valued at about $31,000. Union Bancaire Privee UBP SA acquired a new stake in Colgate-Palmolive in the fourth quarter valued at about $32,000. Finally, Briaud Financial Planning Inc acquired a new stake in Colgate-Palmolive in the fourth quarter valued at about $32,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. UBS Group raised their price objective on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Citigroup increased their target price on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the company a “buy” rating in a report on Monday, April 28th. JPMorgan Chase & Co. increased their target price 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. Piper Sandler dropped their target price on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating for the company in a report on Monday, March 31st. Finally, Wall Street Zen cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Colgate-Palmolive currently has an average rating of “Hold” and a consensus price target of $102.12.

Colgate-Palmolive Stock Down 0.2%

Shares of NYSE CL opened at $90.10 on Tuesday. Colgate-Palmolive has a 1 year low of $85.32 and a 1 year high of $109.30. The firm’s 50 day moving average price is $91.78 and its 200 day moving average price is $90.95. The firm has a market cap of $73.02 billion, a P/E ratio of 25.60, a price-to-earnings-growth ratio of 4.20 and a beta of 0.38. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. The firm had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. During the same quarter last year, the business earned $0.86 earnings per share. Colgate-Palmolive’s revenue was down 3.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be issued 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 2.31%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 58.76%.

Colgate-Palmolive declared that its Board of Directors has authorized a share buyback plan on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.