Rafferty Asset Management LLC Lowers Holdings in Colgate-Palmolive Company $CL

Key Points

• Rafferty Asset Management LLC has reduced its stake in Colgate-Palmolive Company by 21.1%, owning 55,960 shares after selling 14,958 shares in the first quarter.
• Other institutional investors, such as Goldman Sachs and Diamond Hill Capital Management, have increased their positions significantly, indicating strong interest in the stock.
• Colgate-Palmolive has recently declared a quarterly dividend of $0.52, reflecting a dividend yield of 2.5% and a payout ratio of 58.43%.

Rafferty Asset Management LLC decreased its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 21.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,960 shares of the company's stock after selling 14,958 shares during the quarter. Rafferty Asset Management LLC's holdings in Colgate-Palmolive were worth $5,243,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Westend Capital Management LLC raised its stake in shares of Colgate-Palmolive by 111.1% during the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company's stock worth $25,000 after purchasing an additional 140 shares in the last quarter. Cornerstone Planning Group LLC lifted its holdings in shares of Colgate-Palmolive by 1,913.3% during the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock worth $28,000 after buying an additional 287 shares during the last quarter. Vermillion Wealth Management Inc. bought a new position in Colgate-Palmolive during the fourth quarter worth $31,000. Accredited Wealth Management LLC bought a new position in shares of Colgate-Palmolive during the 4th quarter worth about $34,000. Finally, Bernard Wealth Management Corp. bought a new stake in shares of Colgate-Palmolive in the fourth quarter valued at about $36,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Up 0.2%

NYSE:CL traded up $0.17 on Tuesday, reaching $84.24. 2,737,464 shares of the stock traded hands, compared to its average volume of 5,193,390. Colgate-Palmolive Company has a 12 month low of $82.40 and a 12 month high of $109.30. The company has a market capitalization of $68.09 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 4.37 and a beta of 0.35. The company's fifty day simple moving average is $87.06 and its 200 day simple moving average is $89.84. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to analysts' expectations of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The business's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 EPS. Equities analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 18th were given a dividend of $0.52 per share. The ex-dividend date was Friday, July 18th. This represents a $2.08 annualized dividend and a yield of 2.5%. Colgate-Palmolive's dividend payout ratio (DPR) is 58.43%.

Analyst Ratings Changes

Several research firms have recently weighed in on CL. Barclays raised their price objective on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. UBS Group lowered their price objective on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Citigroup dropped their price target on shares of Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a research note on Monday, August 4th. Wells Fargo & Company decreased their price objective on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a report on Monday, August 4th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive currently has an average rating of "Moderate Buy" and a consensus price target of $98.92.

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.