Guggenheim Capital LLC Lowers Position in Colgate-Palmolive Company $CL

Key Points

• Guggenheim Capital LLC reduced its stake in Colgate-Palmolive Company by 2.7%, owning 128,189 shares worth approximately $12 million after selling 3,610 shares in the first quarter.
• Multiple institutional investors made significant changes to their positions, with Westend Capital Management increasing its holdings by 111.1% and Cornerstone Planning Group raising theirs by 1,913.3% in the same quarter.
• Colgate-Palmolive recently reported better-than-expected earnings of $0.92 per share for the last quarter, exceeding analyst expectations, alongside a quarterly dividend yield of 2.5%.

Guggenheim Capital LLC lowered its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 2.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 128,189 shares of the company's stock after selling 3,610 shares during the period. Guggenheim Capital LLC's holdings in Colgate-Palmolive were worth $12,011,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CL. Cornerstone Wealth Management LLC grew its position in shares of Colgate-Palmolive by 1.2% in the 1st quarter. Cornerstone Wealth Management LLC now owns 9,035 shares of the company's stock valued at $847,000 after buying an additional 110 shares during the last quarter. Aberdeen Wealth Management LLC grew its position in shares of Colgate-Palmolive by 0.6% in the 4th quarter. Aberdeen Wealth Management LLC now owns 20,651 shares of the company's stock valued at $1,877,000 after buying an additional 125 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its position in shares of Colgate-Palmolive by 4.0% in the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 3,388 shares of the company's stock valued at $317,000 after buying an additional 130 shares during the last quarter. Continuum Advisory LLC grew its position in shares of Colgate-Palmolive by 17.2% in the 4th quarter. Continuum Advisory LLC now owns 893 shares of the company's stock valued at $81,000 after buying an additional 131 shares during the last quarter. Finally, KFG Wealth Management LLC grew its position in shares of Colgate-Palmolive by 1.5% in the 1st quarter. KFG Wealth Management LLC now owns 8,835 shares of the company's stock valued at $828,000 after buying an additional 131 shares during the last quarter. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Stock Up 0.7%

CL stock traded up $0.62 during trading on Monday, reaching $84.04. 3,934,689 shares of the stock were exchanged, compared to its average volume of 4,656,227. The firm's 50 day moving average is $87.15 and its 200 day moving average is $89.86. Colgate-Palmolive Company has a twelve month low of $82.40 and a twelve month high of $109.30. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. The firm has a market cap of $67.92 billion, a P/E ratio of 23.61, a price-to-earnings-growth ratio of 4.37 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, topping 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 the consensus estimate of $5.03 billion. During the same period in the prior year, the business earned $0.91 EPS. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. As a group, research analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 18th were paid 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 of this dividend was Friday, July 18th. Colgate-Palmolive's dividend payout ratio is 58.43%.

Wall Street Analyst Weigh In

CL has been the topic of a number of analyst reports. Citigroup reduced their price target on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. 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. JPMorgan Chase & Co. reduced their price target 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. UBS Group cut their target price 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, 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 research report on Monday, August 4th. Seven research 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. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $98.92.

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.