QRG Capital Management Inc. increased its position in shares of Colgate-Palmolive Company (NYSE:CL – Free Report) by 19.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 38,030 shares of the company’s stock after acquiring an additional 6,178 shares during the period. QRG Capital Management Inc.’s holdings in Colgate-Palmolive were worth $3,241,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. Kemnay Advisory Services Inc. acquired a new stake in shares of Colgate-Palmolive during the fourth quarter valued at about $25,000. CBIZ Investment Advisory Services LLC increased its stake in shares of Colgate-Palmolive by 86.7% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after buying an additional 150 shares during the period. TD Capital Management LLC raised its holdings in Colgate-Palmolive by 61.4% in the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after buying an additional 124 shares during the last quarter. Triumph Capital Management raised its holdings in Colgate-Palmolive by 62.9% in the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock valued at $26,000 after buying an additional 127 shares during the last quarter. Finally, Jessup Wealth Management Inc acquired a new stake in Colgate-Palmolive during the 4th quarter worth approximately $26,000. Institutional investors and hedge funds own 80.41% of the company’s stock.
Analyst Ratings Changes
CL has been the subject of several recent research reports. Rothschild & Co Redburn set a $100.00 price target on shares of Colgate-Palmolive and gave the company a “buy” rating in a research report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $99.00 price target on shares of Colgate-Palmolive in a report on Monday, May 4th. Wall Street Zen downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. TD Cowen reaffirmed a “hold” rating and set a $85.00 target price on shares of Colgate-Palmolive in a research report on Tuesday, March 31st. Finally, Sanford C. Bernstein assumed coverage on Colgate-Palmolive in a report on Thursday, June 11th. They set a “market perform” rating and a $96.00 target price on the stock. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.88.
Colgate-Palmolive Trading Up 2.6%
Shares of CL traded up $2.41 during trading hours on Tuesday, hitting $95.80. 758,376 shares of the stock were exchanged, compared to its average volume of 6,186,483. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The business has a 50-day moving average of $89.07 and a 200-day moving average of $87.67. The firm has a market capitalization of $76.66 billion, a P/E ratio of 37.23, a price-to-earnings-growth ratio of 5.02 and a beta of 0.33. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67.
Colgate-Palmolive (NYSE:CL – Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The business had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the prior year, the firm posted $0.91 earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, research analysts expect that Colgate-Palmolive Company will post 3.81 EPS for the current year.
Colgate-Palmolive Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be given a dividend of $0.53 per share. The ex-dividend date is Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.2%. Colgate-Palmolive’s dividend payout ratio is presently 82.49%.
Colgate-Palmolive Profile
Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.
The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.
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