GQG Partners LLC Reduces Stake in Colgate-Palmolive Company (NYSE:CL)

Key Points

• GQG Partners LLC has reduced its stake in Colgate-Palmolive by 1.5%, holding approximately 4.3 million shares, valued at $402.6 million after selling 64,851 shares in the first quarter.
• Analysts have downgraded their price targets for Colgate-Palmolive, with UBS setting a new target of $106.00 and Citigroup lowering it to $105.00, while the consensus recommendation remains a "Hold".
• Colgate-Palmolive recently declared a quarterly dividend of $0.52 per share, which will be paid on August 15th, representing an annual yield of 2.4%.

GQG Partners LLC lowered its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 1.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 4,296,464 shares of the company's stock after selling 64,851 shares during the quarter. GQG Partners LLC owned about 0.53% of Colgate-Palmolive worth $402,579,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CL. Westend Capital Management LLC boosted its position in shares of Colgate-Palmolive by 111.1% in the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company's stock valued at $25,000 after purchasing an additional 140 shares during the period. Cornerstone Planning Group LLC boosted its position in shares of Colgate-Palmolive by 1,913.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock valued at $28,000 after purchasing an additional 287 shares during the period. Vermillion Wealth Management Inc. acquired a new stake in shares of Colgate-Palmolive in the 4th quarter valued at about $31,000. Accredited Wealth Management LLC acquired a new stake in Colgate-Palmolive during the 4th quarter worth approximately $34,000. Finally, Bernard Wealth Management Corp. acquired a new stake in Colgate-Palmolive during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 80.41% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. UBS Group decreased their price objective on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Citigroup reduced their price target on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a report on Monday, August 4th. JPMorgan Chase & Co. reduced their price target on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Wall Street Zen cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, Barclays raised their price target on Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $98.92.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $84.92 on Wednesday. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. The stock has a fifty day moving average of $88.49 and a two-hundred day moving average of $90.10. The company has a market capitalization of $68.63 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 4.40 and a beta of 0.35. Colgate-Palmolive Company has a fifty-two week low of $82.40 and a fifty-two week high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly 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. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%. Colgate-Palmolive's revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 earnings per share. On average, analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.08 annualized dividend and a yield of 2.4%. Colgate-Palmolive's dividend payout ratio (DPR) is presently 58.43%.

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.

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