DoubleLine ETF Adviser LP Sells 5,343 Shares of Colgate-Palmolive Company $CL

Key Points

• DoubleLine ETF Adviser LP reduced its holdings in Colgate-Palmolive by 12.5% during the first quarter, bringing its total shares to 37,253, valued at approximately $3.49 million.
• Several large investors made adjustments, with Westend Capital Management increasing its stake by 111.1%, and Cornerstone Planning Group raising theirs by 1,913.3%.
• Colgate-Palmolive reported a quarterly EPS of $0.92, exceeding estimates, alongside a 2.5% annual dividend yield, reflecting a payout ratio of 58.43%.

DoubleLine ETF Adviser LP cut its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 12.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,253 shares of the company's stock after selling 5,343 shares during the quarter. Colgate-Palmolive accounts for about 1.2% of DoubleLine ETF Adviser LP's portfolio, making the stock its 25th biggest holding. DoubleLine ETF Adviser LP's holdings in Colgate-Palmolive were worth $3,491,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Brighton Jones LLC raised its holdings in Colgate-Palmolive by 4.4% in the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company's stock valued at $962,000 after acquiring an additional 450 shares in the last quarter. Bernard Wealth Management Corp. acquired a new position in Colgate-Palmolive in the 4th quarter valued at $36,000. Cary Street Partners Financial LLC acquired a new position in Colgate-Palmolive in the 4th quarter valued at $1,663,000. Captrust Financial Advisors raised its holdings in Colgate-Palmolive by 3.1% in the 4th quarter. Captrust Financial Advisors now owns 115,962 shares of the company's stock valued at $10,542,000 after acquiring an additional 3,473 shares in the last quarter. Finally, Crestline Management LP acquired a new position in Colgate-Palmolive in the 4th quarter valued at $6,292,000. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Price Performance

Shares of CL stock traded up $0.07 on Tuesday, reaching $84.26. The company's stock had a trading volume of 1,733,620 shares, compared to its average volume of 5,191,494. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. Colgate-Palmolive Company has a 12-month low of $82.40 and a 12-month high of $107.76. The company has a market capitalization of $68.10 billion, a P/E ratio of 23.68, a PEG ratio of 4.43 and a beta of 0.35. The stock's 50 day simple moving average is $86.61 and its 200-day simple moving average is $89.73.

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

Colgate-Palmolive Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. UBS Group decreased their price target on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Wells Fargo & Company reduced their price objective on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a research report on Monday, August 4th. Barclays boosted their price objective on Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. JPMorgan Chase & Co. reduced their price objective on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Finally, Morgan Stanley cut their target price on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $98.00.

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.