Miracle Mile Advisors LLC Grows Stock Position in Colgate-Palmolive (NYSE:CL)

Miracle Mile Advisors LLC lifted its position in Colgate-Palmolive (NYSE:CL) by 3.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,651 shares of the company’s stock after acquiring an additional 429 shares during the period. Miracle Mile Advisors LLC’s holdings in Colgate-Palmolive were worth $1,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in shares of Colgate-Palmolive by 4.4% during the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock worth $962,000 after purchasing an additional 450 shares during the last quarter. Bernard Wealth Management Corp. purchased a new position in Colgate-Palmolive during the fourth quarter worth approximately $36,000. Apollon Wealth Management LLC boosted its stake in Colgate-Palmolive by 12.2% during the fourth quarter. Apollon Wealth Management LLC now owns 25,317 shares of the company’s stock worth $2,302,000 after buying an additional 2,746 shares during the last quarter. Kingsview Wealth Management LLC grew its holdings in Colgate-Palmolive by 133.9% in the 4th quarter. Kingsview Wealth Management LLC now owns 36,120 shares of the company’s stock valued at $3,284,000 after buying an additional 20,676 shares in the last quarter. Finally, Thompson Investment Management Inc. increased its stake in shares of Colgate-Palmolive by 19.7% in the 4th quarter. Thompson Investment Management Inc. now owns 3,645 shares of the company’s stock worth $331,000 after acquiring an additional 600 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CL. Barclays lowered their price target on shares of Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. UBS Group boosted their target price on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the company a “buy” rating in a report on Thursday, April 17th. JPMorgan Chase & Co. raised their price target on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. Piper Sandler reduced their price target on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. Finally, Wall Street Zen lowered 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 ten have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $102.12.

Colgate-Palmolive Price Performance

CL opened at $90.94 on Tuesday. The stock’s 50-day moving average price is $91.71 and its 200 day moving average price is $91.12. Colgate-Palmolive has a 12-month low of $85.32 and a 12-month high of $109.30. The firm has a market cap of $73.70 billion, a price-to-earnings ratio of 25.83, a PEG ratio of 4.20 and a beta of 0.38. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 earnings per share. As a group, sell-side analysts expect that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.29%. The ex-dividend date was Thursday, April 17th. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 58.76%.

Colgate-Palmolive announced that its board has authorized a share repurchase program on Thursday, March 20th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

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.