Los Angeles Capital Management LLC Sells 14,071 Shares of Colgate-Palmolive Company (NYSE:CL)

Los Angeles Capital Management LLC lessened its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 17.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,554 shares of the company's stock after selling 14,071 shares during the period. Los Angeles Capital Management LLC's holdings in Colgate-Palmolive were worth $6,236,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Westend Capital Management LLC grew its position in Colgate-Palmolive by 111.1% during the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company's stock worth $25,000 after acquiring an additional 140 shares during the last quarter. Cornerstone Planning Group LLC lifted its holdings in Colgate-Palmolive by 1,913.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock worth $28,000 after buying an additional 287 shares during the period. Vermillion Wealth Management Inc. acquired a new position in Colgate-Palmolive during the 4th quarter worth about $31,000. Bernard Wealth Management Corp. acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at about $33,000. Finally, Accredited Wealth Management LLC acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at about $34,000. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Stock Performance

NYSE CL traded down $0.43 on Thursday, hitting $88.36. 1,288,138 shares of the stock traded hands, compared to its average volume of 5,243,264. The business's fifty day moving average is $90.33 and its two-hundred day moving average is $90.33. Colgate-Palmolive Company has a 12 month low of $85.32 and a 12 month high of $109.30. The firm has a market capitalization of $71.61 billion, a price-to-earnings ratio of 24.98, a PEG ratio of 4.68 and a beta of 0.37. The company has a debt-to-equity ratio of 8.96, a quick ratio of 0.54 and a current ratio of 0.85.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. Colgate-Palmolive had a return on equity of 461.04% and a net margin of 14.52%. The business had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.92 billion. During the same period in the prior year, the company earned $0.86 earnings per share. Colgate-Palmolive's revenue was down 3.0% compared to the same quarter last year. As a group, equities analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.08 annualized dividend and a yield of 2.35%. Colgate-Palmolive's dividend payout ratio is currently 58.76%.

Analysts Set New Price Targets

CL has been the topic of a number of recent analyst reports. Wall Street Zen downgraded Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Piper Sandler dropped their price objective on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a research note on Monday, March 31st. Citigroup boosted their price objective on Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a research note on Monday, April 28th. Barclays boosted their price objective on Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Finally, JPMorgan Chase & Co. boosted their price objective on Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Colgate-Palmolive presently has a consensus rating of "Hold" and a consensus price target of $100.64.

Colgate-Palmolive Company 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.