QRG Capital Management Inc. Purchases 177,350 Shares of Colgate-Palmolive Company $CL

Key Points

• QRG Capital Management increased its Colgate-Palmolive stake by 466.3%, buying 177,350 additional shares to hold 215,380 shares valued at approximately $19.7 million. Institutional investors and hedge funds collectively own 80.41% of the stock.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $98.94; recent targets range from $101 to $110.
• Colgate-Palmolive exceeded quarterly EPS expectations, reporting $0.99 versus the $0.95 consensus, while revenue rose 4.9% year over year to $5.36 billion. The company also declared a quarterly dividend of $0.53 per share, representing a 2.5% annualized yield.

QRG Capital Management Inc. increased its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 466.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 215,380 shares of the company's stock after purchasing an additional 177,350 shares during the quarter. QRG Capital Management Inc.'s holdings in Colgate-Palmolive were worth $19,746,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Clear Harbor Asset Management LLC grew its stake in Colgate-Palmolive by 2.6% in the fourth quarter. Clear Harbor Asset Management LLC now owns 4,503 shares of the company's stock valued at $356,000 after acquiring an additional 113 shares during the period. Cooper Financial Group lifted its holdings in shares of Colgate-Palmolive by 4.0% in the 2nd quarter. Cooper Financial Group now owns 2,947 shares of the company's stock worth $270,000 after purchasing an additional 114 shares in the last quarter. Gould Capital LLC grew its position in Colgate-Palmolive by 38.7% in the 1st quarter. Gould Capital LLC now owns 412 shares of the company's stock valued at $35,000 after purchasing an additional 115 shares during the period. Redhawk Wealth Advisors Inc. raised its holdings in Colgate-Palmolive by 2.8% during the second quarter. Redhawk Wealth Advisors Inc. now owns 4,326 shares of the company's stock worth $397,000 after buying an additional 118 shares during the last quarter. Finally, SVB Wealth LLC lifted its stake in shares of Colgate-Palmolive by 1.4% in the second quarter. SVB Wealth LLC now owns 8,767 shares of the company's stock valued at $804,000 after buying an additional 119 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 10,000 shares of the business's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $92.05, for a total value of $920,500.00. Following the transaction, the chief operating officer directly owned 64,901 shares in the company, valued at $5,974,137.05. The trade was a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John T. Cahill sold 4,170 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total transaction of $389,352.90. Following the transaction, the director directly owned 28,373 shares of the company's stock, valued at $2,649,187.01. This represents a 12.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 175,191 shares of company stock valued at $16,110,903. 0.43% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on CL. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $101.00 target price on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Citigroup boosted their price objective on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Jefferies Financial Group reissued a "hold" rating on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Royal Bank Of Canada reiterated an "outperform" rating and set a $104.00 price target on shares of Colgate-Palmolive in a report on Tuesday, September 8th. Finally, Sanford C. Bernstein restated a "market perform" rating on shares of Colgate-Palmolive in a research note on Thursday, August 13th. Thirteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Colgate-Palmolive has a consensus rating of "Moderate Buy" and an average price target of $98.94.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $85.92 on Thursday. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The company's 50 day moving average price is $90.46 and its two-hundred day moving average price is $89.03. The stock has a market cap of $68.49 billion, a P/E ratio of 34.09, a P/E/G ratio of 4.06 and a beta of 0.33. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.04. The company had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.Colgate-Palmolive's quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.92 earnings per share. On average, equities analysts predict that Colgate-Palmolive Company will post 3.87 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, October 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.5%. Colgate-Palmolive's dividend payout ratio (DPR) is currently 84.13%.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company NYSE: CL is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its products are sold in more than 200 countries and territories through retail stores, e-commerce channels and professional networks.

The company's portfolio includes Colgate toothpaste, toothbrushes and mouthwashes; Palmolive and Softsoap personal care products; Ajax and other household cleaning products; and Hill's Science Diet and Prescription Diet pet foods.

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