QRG Capital Management Inc. Raises Position in Colgate-Palmolive Company (NYSE:CL)

QRG Capital Management Inc. boosted its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 4.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,037 shares of the company's stock after buying an additional 3,201 shares during the period. QRG Capital Management Inc.'s holdings in Colgate-Palmolive were worth $6,469,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Colgate-Palmolive during the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC bought a new stake in shares of Colgate-Palmolive during the fourth quarter valued at approximately $27,000. Vermillion Wealth Management Inc. bought a new stake in shares of Colgate-Palmolive during the fourth quarter valued at approximately $31,000. Union Bancaire Privee UBP SA bought a new stake in shares of Colgate-Palmolive during the fourth quarter valued at approximately $32,000. Finally, Briaud Financial Planning Inc purchased a new stake in Colgate-Palmolive during the 4th quarter valued at $32,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Down 1.6%

CL opened at $88.66 on Wednesday. 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 Company has a fifty-two week low of $85.32 and a fifty-two week high of $109.30. The firm's fifty day moving average is $91.75 and its 200 day moving average is $90.93. The stock has a market cap of $71.85 billion, a price-to-earnings ratio of 25.04, a price-to-earnings-growth ratio of 4.79 and a beta of 0.38.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.86 by $0.05. The business had revenue of $4.91 billion for the quarter, compared to analysts' expectations of $4.92 billion. Colgate-Palmolive had a net margin of 14.52% and a return on equity of 461.04%. The business's quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.86 EPS. On average, sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

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 paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive's payout ratio is currently 58.76%.

Colgate-Palmolive announced that its Board of Directors has initiated a stock repurchase plan on Thursday, March 20th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 6.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CL shares. Barclays dropped their price target on Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. Wall Street Zen downgraded Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Citigroup increased their price objective on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. UBS Group increased their price objective on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $102.12.

Colgate-Palmolive 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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