AQR Capital Management LLC Buys 892,706 Shares of Colgate-Palmolive (NYSE:CL)

AQR Capital Management LLC grew its stake in Colgate-Palmolive (NYSE:CL) by 58.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,416,943 shares of the company’s stock after buying an additional 892,706 shares during the period. AQR Capital Management LLC owned 0.29% of Colgate-Palmolive worth $234,540,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. E Fund Management Hong Kong Co. Ltd. bought a new position in Colgate-Palmolive during the 2nd quarter worth approximately $25,000. Core Wealth Advisors Inc. raised its position in shares of Colgate-Palmolive by 56.6% in the 4th quarter. Core Wealth Advisors Inc. now owns 404 shares of the company’s stock worth $32,000 after acquiring an additional 146 shares in the last quarter. Rise Advisors LLC acquired a new position in shares of Colgate-Palmolive in the 1st quarter valued at about $38,000. Continuum Advisory LLC boosted its position in shares of Colgate-Palmolive by 46.5% during the 2nd quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after purchasing an additional 125 shares in the last quarter. Finally, Voisard Asset Management Group Inc. acquired a new stake in Colgate-Palmolive during the fourth quarter worth approximately $40,000. 80.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on CL shares. HSBC reissued a “hold” rating on shares of Colgate-Palmolive in a research note on Friday, July 26th. Citigroup increased their target price on shares of Colgate-Palmolive from $103.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. BNP Paribas began coverage on shares of Colgate-Palmolive in a report on Monday, June 24th. They set an “outperform” rating and a $109.00 price objective on the stock. Redburn Atlantic upgraded Colgate-Palmolive to a “hold” rating in a research note on Thursday, August 1st. Finally, Morgan Stanley upped their price target on Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus target price of $104.74.

Insiders Place Their Bets

In other news, Director Martina Hundmejean sold 2,313 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the sale, the director now owns 11,755 shares in the company, valued at approximately $1,220,874.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Panagiotis Tsourapas sold 14,794 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $102.94, for a total transaction of $1,522,894.36. Following the sale, the insider now directly owns 5,146 shares in the company, valued at approximately $529,729.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the transaction, the director now owns 11,755 shares of the company’s stock, valued at $1,220,874.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,490 shares of company stock valued at $4,486,063. Company insiders own 0.34% of the company’s stock.

Colgate-Palmolive Trading Down 0.0 %

NYSE:CL opened at $103.76 on Thursday. Colgate-Palmolive has a 52 week low of $67.62 and a 52 week high of $109.30. The firm has a 50-day moving average price of $102.96 and a two-hundred day moving average price of $96.10. The firm has a market cap of $85.13 billion, a price-to-earnings ratio of 32.84, a price-to-earnings-growth ratio of 3.62 and a beta of 0.40. The company has a debt-to-equity ratio of 16.90, a quick ratio of 0.70 and a current ratio of 1.06.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, July 26th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5 billion. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. Colgate-Palmolive’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company posted $0.77 earnings per share. On average, equities analysts expect that Colgate-Palmolive will post 3.57 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a yield of 1.93%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 63.29%.

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.