QRG Capital Management Inc. Has $3.24 Million Position in Colgate-Palmolive Company $CL

QRG Capital Management Inc. increased its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 19.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,030 shares of the company’s stock after acquiring an additional 6,178 shares during the quarter. QRG Capital Management Inc.’s holdings in Colgate-Palmolive were worth $3,241,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CL. Kemnay Advisory Services Inc. bought a new position in shares of Colgate-Palmolive during the 4th quarter worth about $25,000. CBIZ Investment Advisory Services LLC increased its position in Colgate-Palmolive by 86.7% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after buying an additional 150 shares in the last quarter. TD Capital Management LLC raised its stake in Colgate-Palmolive by 61.4% during the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after buying an additional 124 shares during the period. Triumph Capital Management raised its stake in Colgate-Palmolive by 62.9% during the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after buying an additional 127 shares during the period. Finally, Jessup Wealth Management Inc bought a new position in Colgate-Palmolive in the fourth quarter worth approximately $26,000. 80.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Weiss Ratings upgraded Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 4th. TD Cowen reiterated a “hold” rating and issued a $85.00 target price on shares of Colgate-Palmolive in a report on Tuesday, March 31st. Wall Street Zen lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Sunday, March 29th. Bank of America lowered their price objective on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, April 10th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Colgate-Palmolive in a research note on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $95.88.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock traded up $2.41 during mid-day trading on Tuesday, hitting $95.80. 758,376 shares of the stock were exchanged, compared to its average volume of 6,186,483. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The company has a 50-day simple moving average of $89.07 and a 200 day simple moving average of $87.67. The company has a market capitalization of $76.66 billion, a P/E ratio of 37.23, a P/E/G ratio of 5.02 and a beta of 0.33. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.03. The company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.Colgate-Palmolive’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 earnings per share. Sell-side analysts anticipate that Colgate-Palmolive Company will post 3.81 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Monday, July 20th. Colgate-Palmolive’s dividend payout ratio is 82.49%.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.