VCI Wealth Management LLC Cuts Stake in Colgate-Palmolive Company (NYSE:CL)

VCI Wealth Management LLC reduced its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 61.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,742 shares of the company's stock after selling 10,805 shares during the quarter. VCI Wealth Management LLC's holdings in Colgate-Palmolive were worth $632,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Westend Capital Management LLC lifted its position in Colgate-Palmolive by 111.1% during the first quarter. Westend Capital Management LLC now owns 266 shares of the company's stock valued at $25,000 after purchasing an additional 140 shares during the period. Cornerstone Planning Group LLC raised its position in shares of Colgate-Palmolive by 1,913.3% in the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock worth $28,000 after acquiring an additional 287 shares during the period. Vermillion Wealth Management Inc. acquired a new position in shares of Colgate-Palmolive in the fourth quarter worth about $31,000. Accredited Wealth Management LLC acquired a new position in shares of Colgate-Palmolive in the fourth quarter worth about $34,000. Finally, Bernard Wealth Management Corp. acquired a new position in shares of Colgate-Palmolive during the 4th quarter worth about $33,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL traded up $1.11 during midday trading on Tuesday, hitting $87.75. The stock had a trading volume of 1,699,702 shares, compared to its average volume of 4,852,765. The company has a market capitalization of $71.12 billion, a PE ratio of 24.78, a P/E/G ratio of 4.59 and a beta of 0.37. The stock has a 50 day moving average price of $90.34 and a two-hundred day moving average price of $90.38. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 8.96. Colgate-Palmolive Company has a 1 year low of $85.32 and a 1 year high of $109.30.

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

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive's payout ratio is currently 58.76%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Citigroup increased their price target on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a research note on Monday, April 28th. Wells Fargo & Company increased their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a research note on Wednesday, April 2nd. Wall Street Zen cut shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Barclays increased their price objective on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. 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 report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $100.64.

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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