QRG Capital Management Inc. Reduces Stock Position in Colgate-Palmolive Company $CL

Key Points

• QRG Capital Management Inc. has reduced its holdings in Colgate-Palmolive by 21.7%, selling 14,962 shares and now owning 54,075 shares valued at approximately $4.91 million.
• Colgate-Palmolive reported a quarterly EPS of $0.92, surpassing analyst expectations of $0.89, and achieved a revenue of $5.11 billion, slightly above predictions.
• The company announced a quarterly dividend of $0.52 per share, reflecting a dividend yield of 2.7% and a payout ratio of 58.43%.

QRG Capital Management Inc. reduced its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 21.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,075 shares of the company's stock after selling 14,962 shares during the period. QRG Capital Management Inc.'s holdings in Colgate-Palmolive were worth $4,915,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CL. Price T Rowe Associates Inc. MD boosted its stake in shares of Colgate-Palmolive by 18.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company's stock worth $3,186,651,000 after purchasing an additional 5,269,140 shares during the period. Nuveen LLC purchased a new position in shares of Colgate-Palmolive during the 1st quarter worth about $217,593,000. Goldman Sachs Group Inc. boosted its stake in shares of Colgate-Palmolive by 34.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company's stock worth $747,762,000 after purchasing an additional 2,045,191 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in shares of Colgate-Palmolive by 45.0% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 5,562,968 shares of the company's stock worth $521,250,000 after purchasing an additional 1,727,105 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in shares of Colgate-Palmolive by 60.5% during the 1st quarter. Alliancebernstein L.P. now owns 2,336,783 shares of the company's stock worth $218,957,000 after purchasing an additional 880,527 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Down 0.4%

NYSE CL opened at $78.01 on Monday. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. The firm has a market cap of $63.05 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 4.06 and a beta of 0.34. The company has a 50 day moving average price of $83.29 and a 200 day moving average price of $88.30. Colgate-Palmolive Company has a 52 week low of $77.91 and a 52 week high of $102.61.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.89 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. Colgate-Palmolive's revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.91 EPS. As a group, sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive's payout ratio is 58.43%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Piper Sandler initiated coverage on shares of Colgate-Palmolive in a research note on Friday. They set a "neutral" rating and a $84.00 price target for the company. Citigroup lowered their price objective on shares of Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a research report on Monday, August 4th. UBS Group lowered their price objective on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Weiss Ratings reissued a "hold (c)" rating on shares of Colgate-Palmolive in a research report on Saturday, September 27th. Finally, Morgan Stanley lowered their price objective on shares of Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $94.83.

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.

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