Colgate-Palmolive Company $CL Shares Sold by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC has reduced its stake in Colgate-Palmolive by 30.3%, owning 2,188,531 shares worth approximately $205.07 million after the sale.
• The company recently declared a quarterly dividend of $0.52 per share, representing an annual yield of 2.5% based on the current stock price.
• Colgate-Palmolive reported earnings of $0.92 per share for the last quarter, exceeding estimates, with revenue of $5.11 billion, a 1.0% increase year-over-year.

AQR Capital Management LLC trimmed its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 30.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,188,531 shares of the company's stock after selling 949,305 shares during the quarter. AQR Capital Management LLC owned 0.27% of Colgate-Palmolive worth $205,065,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Personal CFO Solutions LLC purchased a new stake in shares of Colgate-Palmolive during the 1st quarter worth about $285,000. Vision Capital Management Inc. acquired a new stake in shares of Colgate-Palmolive during the 1st quarter worth approximately $322,000. Autumn Glory Partners LLC increased its holdings in shares of Colgate-Palmolive by 67.4% during the 1st quarter. Autumn Glory Partners LLC now owns 8,905 shares of the company's stock worth $851,000 after buying an additional 3,586 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in Colgate-Palmolive in the 1st quarter valued at approximately $2,166,000. Finally, Penserra Capital Management LLC increased its holdings in Colgate-Palmolive by 398.6% in the 1st quarter. Penserra Capital Management LLC now owns 10,651 shares of the company's stock valued at $997,000 after purchasing an additional 8,515 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Down 0.8%

Shares of Colgate-Palmolive stock opened at $83.70 on Thursday. Colgate-Palmolive Company has a 52-week low of $82.40 and a 52-week high of $109.30. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. The company's 50-day simple moving average is $86.90 and its 200-day simple moving average is $89.76. The firm has a market cap of $67.65 billion, a price-to-earnings ratio of 23.51, a price-to-earnings-growth ratio of 4.37 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period in the prior year, the business posted $0.91 earnings per share. The firm's revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 18th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a yield of 2.5%. Colgate-Palmolive's dividend payout ratio (DPR) is currently 58.43%.

Analysts Set New Price Targets

CL has been the subject of several research reports. JPMorgan Chase & Co. dropped their price target on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Barclays boosted their price target on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Wall Street Zen cut shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Wells Fargo & Company reduced their price target on shares of Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a research report on Monday, August 4th. Finally, Citigroup dropped their price objective on shares of Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a research note on Monday, August 4th. Seven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Colgate-Palmolive has a consensus rating of "Moderate Buy" and an average price target of $98.92.

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.

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