Boston Research & Management Inc. Acquires 540 Shares of Colgate-Palmolive (NYSE:CL)

Boston Research & Management Inc. boosted its position in shares of Colgate-Palmolive (NYSE:CL) by 0.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,771 shares of the company’s stock after buying an additional 540 shares during the quarter. Colgate-Palmolive accounts for approximately 1.4% of Boston Research & Management Inc.’s investment portfolio, making the stock its 26th largest position. Boston Research & Management Inc.’s holdings in Colgate-Palmolive were worth $5,797,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of Colgate-Palmolive during the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive in the 4th quarter valued at $27,000. Union Bancaire Privee UBP SA purchased a new position in Colgate-Palmolive during the fourth quarter valued at approximately $32,000. Briaud Financial Planning Inc purchased a new stake in shares of Colgate-Palmolive during the 4th quarter worth about $32,000. Finally, Wintrust Investments LLC acquired a new stake in Colgate-Palmolive in the 4th quarter valued at $33,000. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $92.73 on Monday. 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 has a one year low of $85.32 and a one year high of $109.30. The company has a market capitalization of $75.25 billion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. The stock has a fifty day moving average of $89.69 and a 200-day moving average of $93.52.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, January 31st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.01. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. During the same quarter in the prior year, the firm earned $0.87 EPS. As a group, equities analysts anticipate that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

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

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th will be 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 of this dividend is Thursday, April 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.24%. Colgate-Palmolive’s payout ratio is currently 59.09%.

Analysts Set New Price Targets

Several brokerages have issued reports on CL. JPMorgan Chase & Co. lifted their target price on shares of Colgate-Palmolive from $97.00 to $99.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. StockNews.com lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Tuesday, March 25th. Raymond James restated an “outperform” rating and set a $105.00 target price (down from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. Stifel Nicolaus cut their price target on Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating on the stock in a report on Monday, February 3rd. Finally, Piper Sandler decreased their price target on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $102.06.

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.