Colgate-Palmolive Company $CL Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. decreased its stake in Colgate-Palmolive Company (NYSE:CL) by 38.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 33,091 shares of the company’s stock after selling 20,984 shares during the quarter. QRG Capital Management Inc.’s holdings in Colgate-Palmolive were worth $2,645,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Westside Investment Management Inc. boosted its stake in shares of Colgate-Palmolive by 85.5% during the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after buying an additional 130 shares during the period. Vermillion & White Wealth Management Group LLC increased its position in Colgate-Palmolive by 86.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock worth $30,000 after purchasing an additional 155 shares during the last quarter. MTM Investment Management LLC acquired a new stake in shares of Colgate-Palmolive during the 2nd quarter valued at about $39,000. Louisbourg Investments Inc. grew its stake in shares of Colgate-Palmolive by 94.7% in the 3rd quarter. Louisbourg Investments Inc. now owns 514 shares of the company’s stock valued at $41,000 after buying an additional 250 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new position in Colgate-Palmolive during the second quarter valued at approximately $44,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CL has been the subject of a number of recent analyst reports. Piper Sandler set a $88.00 target price on Colgate-Palmolive and gave the stock an “overweight” rating in a research report on Tuesday, January 6th. Jefferies Financial Group set a $85.00 price objective on Colgate-Palmolive in a research report on Tuesday, December 16th. Wells Fargo & Company set a $86.00 target price on Colgate-Palmolive and gave the company an “equal weight” rating in a report on Tuesday, January 13th. The Goldman Sachs Group reduced their price objective on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, October 2nd. Finally, Morgan Stanley dropped their target price on shares of Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating on the stock in a research report on Monday, November 3rd. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Colgate-Palmolive has an average rating of “Moderate Buy” and an average price target of $89.44.

Colgate-Palmolive Stock Up 0.2%

Shares of NYSE:CL opened at $84.49 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 0.93 and a debt-to-equity ratio of 5.90. The company’s 50-day moving average price is $79.51 and its two-hundred day moving average price is $81.62. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $100.18. The firm has a market cap of $68.10 billion, a P/E ratio of 23.67, a P/E/G ratio of 5.73 and a beta of 0.30.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. Colgate-Palmolive had a return on equity of 333.39% and a net margin of 14.47%.The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.17 billion. During the same period last year, the company earned $0.91 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. As a group, research analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Wednesday, January 21st will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, January 21st. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 58.26%.

About Colgate-Palmolive

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.