Y Intercept Hong Kong Ltd Sells 37,250 Shares of Colgate-Palmolive Company (NYSE:CL)

Key Points

• Y Intercept Hong Kong Ltd significantly reduced its holdings in Colgate-Palmolive by 94%, now owning only 2,391 shares valued at $224,000.
• Several institutional investors increased their stakes in Colgate-Palmolive, with GAMMA Investing LLC boosting its position by an astonishing 10,601.7% in the first quarter.
• Colgate-Palmolive recently declared a quarterly dividend of $0.52 per share, providing a yield of 2.43% to investors.

Y Intercept Hong Kong Ltd lowered its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 94.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,391 shares of the company's stock after selling 37,250 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Colgate-Palmolive were worth $224,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Westend Capital Management LLC lifted its position 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 buying an additional 140 shares during the period. Cornerstone Planning Group LLC lifted its position in shares of Colgate-Palmolive by 1,913.3% during the 1st 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 period. Vermillion Wealth Management Inc. bought a new position in shares of Colgate-Palmolive during the 4th quarter worth approximately $31,000. Accredited Wealth Management LLC bought a new position in shares of Colgate-Palmolive during the 4th quarter worth approximately $34,000. Finally, Bernard Wealth Management Corp. bought a new position in shares of Colgate-Palmolive during the 4th quarter worth approximately $36,000. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Trading Down 0.4%

Shares of Colgate-Palmolive stock traded down $0.34 during trading on Friday, reaching $83.51. 9,606,667 shares of the company were exchanged, compared to its average volume of 4,420,865. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 8.96. Colgate-Palmolive Company has a twelve month low of $82.70 and a twelve month high of $109.30. The business has a 50-day moving average price of $89.59 and a 200-day moving average price of $90.28. The firm has a market capitalization of $67.68 billion, a price-to-earnings ratio of 23.59, a P/E/G ratio of 4.32 and a beta of 0.37.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.03. Colgate-Palmolive had a return on equity of 461.04% and a net margin of 14.52%. The business had revenue of $5.11 billion during the quarter, compared to analysts' expectations of $5.03 billion. During the same period in the previous year, the firm earned $0.91 earnings per share. The firm's quarterly revenue was up 1.0% compared to the same quarter last year. Sell-side analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

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 issued a dividend of $0.52 per share. The ex-dividend date is Friday, July 18th. This represents a $2.08 annualized dividend and a yield of 2.5%. Colgate-Palmolive's payout ratio is currently 58.76%.

Analyst Ratings Changes

CL has been the subject of several research analyst reports. UBS Group cut their price objective on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Barclays lifted their price objective on Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Citigroup lifted their price objective on Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a research report on Monday, April 28th. Wall Street Zen downgraded Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. cut their price objective on Colgate-Palmolive from $103.00 to $99.00 and set an "overweight" rating for the company in a research report on Friday, July 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Colgate-Palmolive has a consensus rating of "Hold" and an average target price of $100.58.

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.