Colgate-Palmolive Company (NYSE:CL) Holdings Lowered by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management Ltd. significantly reduced its stake in Colgate-Palmolive by 91.1% in the first quarter, selling 624,497 shares and leaving it with 61,221 shares valued at $5.7 million.
• Colgate-Palmolive reported a quarterly earnings per share (EPS) of $0.92, surpassing analysts' expectations, with revenues of $5.11 billion, reflecting a 1.0% increase year-over-year.
• The company declared a quarterly dividend of $0.52 per share, with an annual yield of 2.5% and a payout ratio of 58.76%.

Jupiter Asset Management Ltd. trimmed its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 91.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,221 shares of the company's stock after selling 624,497 shares during the period. Jupiter Asset Management Ltd.'s holdings in Colgate-Palmolive were worth $5,736,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CL. Westend Capital Management LLC raised its position in Colgate-Palmolive by 111.1% during the first quarter. Westend Capital Management LLC now owns 266 shares of the company's stock valued at $25,000 after buying an additional 140 shares during the period. Cornerstone Planning Group LLC raised its position in Colgate-Palmolive by 1,913.3% during the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock valued at $28,000 after buying an additional 287 shares during the period. Vermillion Wealth Management Inc. acquired a new position in Colgate-Palmolive during the fourth quarter valued at $31,000. Accredited Wealth Management LLC acquired a new position in Colgate-Palmolive during the fourth quarter valued at $34,000. Finally, Bernard Wealth Management Corp. acquired a new position in Colgate-Palmolive during the fourth quarter valued at $33,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $83.51 on Monday. The company has a debt-to-equity ratio of 8.96, a current ratio of 0.43 and a quick ratio of 0.28. The firm has a market cap of $67.68 billion, a P/E ratio of 23.46, a PEG ratio of 4.31 and a beta of 0.35. The stock's 50-day moving average is $89.59 and its two-hundred day moving average is $90.31. Colgate-Palmolive Company has a fifty-two week low of $82.70 and a fifty-two week high of $109.30.

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

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.5%. Colgate-Palmolive's dividend payout ratio is currently 58.76%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CL shares. Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Barclays upped their price target on Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Citigroup upped their price target on Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a research report on Monday, April 28th. UBS Group dropped their price target on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Finally, JPMorgan Chase & Co. dropped their target price on Colgate-Palmolive from $103.00 to $99.00 and set an "overweight" rating on the stock in a research report on Friday, July 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $100.58.

About Colgate-Palmolive

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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