Nordea Investment Management AB Decreases Holdings in Colgate-Palmolive Company $CL

Nordea Investment Management AB trimmed its position in shares of Colgate-Palmolive Company (NYSE:CL) by 7.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,667,298 shares of the company’s stock after selling 396,545 shares during the quarter. Nordea Investment Management AB owned 0.58% of Colgate-Palmolive worth $370,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. American National Bank of Texas grew its holdings in shares of Colgate-Palmolive by 7.7% in the fourth quarter. American National Bank of Texas now owns 3,315 shares of the company’s stock worth $262,000 after acquiring an additional 238 shares during the period. Occidental Asset Management LLC bought a new position in Colgate-Palmolive in the fourth quarter valued at about $231,000. Procyon Advisors LLC lifted its holdings in Colgate-Palmolive by 135.4% in the fourth quarter. Procyon Advisors LLC now owns 40,444 shares of the company’s stock valued at $3,196,000 after acquiring an additional 23,260 shares during the period. Henrickson Nauta Wealth Advisors Inc. purchased a new position in Colgate-Palmolive in the fourth quarter worth about $237,000. Finally, Everpar Advisors LLC bought a new stake in shares of Colgate-Palmolive during the 4th quarter valued at about $290,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Bank of America increased their price objective on shares of Colgate-Palmolive from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Evercore boosted their target price on shares of Colgate-Palmolive from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. JPMorgan Chase & Co. upped their target price on shares of Colgate-Palmolive from $93.00 to $97.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Citigroup increased their price target on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Finally, Royal Bank Of Canada upgraded shares of Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 price target on the stock in a research note on Tuesday, December 9th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average target price of $94.75.

Insider Activity

In other Colgate-Palmolive news, insider Sally Massey sold 15,851 shares of the stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $95.03, for a total value of $1,506,320.53. Following the completion of the sale, the insider owned 13,751 shares in the company, valued at approximately $1,306,757.53. This represents a 53.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Panagiotis Tsourapas sold 15,000 shares of the firm’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $97.81, for a total value of $1,467,150.00. Following the sale, the chief operating officer directly owned 10,415 shares in the company, valued at approximately $1,018,691.15. This represents a 59.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 184,683 shares of company stock valued at $17,486,693 over the last 90 days. Company insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Down 0.4%

CL stock opened at $85.14 on Friday. The business’s 50-day moving average price is $91.01 and its 200-day moving average price is $83.36. The stock has a market cap of $68.62 billion, a P/E ratio of 32.49, a PEG ratio of 3.81 and a beta of 0.28. The company has a quick ratio of 0.54, a current ratio of 0.83 and a debt-to-equity ratio of 18.82. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.04. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The company had revenue of $5.23 billion during the quarter, compared to analyst estimates of $5.13 billion. During the same period in the prior year, the firm posted $0.91 EPS. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, equities research analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 20th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, April 20th. Colgate-Palmolive’s dividend payout ratio is currently 79.39%.

Colgate-Palmolive Profile

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.