AMF Tjanstepension AB Trims Stock Position in Colgate-Palmolive Company $CL

AMF Tjanstepension AB cut its stake in Colgate-Palmolive Company (NYSE:CL) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,568,041 shares of the company’s stock after selling 35,919 shares during the period. AMF Tjanstepension AB’s holdings in Colgate-Palmolive were worth $123,907,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC raised its holdings in shares of Colgate-Palmolive by 4.4% in the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after buying an additional 450 shares during the last quarter. Woodline Partners LP raised its holdings in shares of Colgate-Palmolive by 76.3% in the first quarter. Woodline Partners LP now owns 46,361 shares of the company’s stock valued at $4,344,000 after buying an additional 20,062 shares during the last quarter. Schnieders Capital Management LLC. raised its holdings in shares of Colgate-Palmolive by 2.0% in the second quarter. Schnieders Capital Management LLC. now owns 12,494 shares of the company’s stock valued at $1,136,000 after buying an additional 245 shares during the last quarter. Nebula Research & Development LLC raised its holdings in shares of Colgate-Palmolive by 165.5% in the second quarter. Nebula Research & Development LLC now owns 10,326 shares of the company’s stock valued at $939,000 after buying an additional 6,437 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Colgate-Palmolive by 21.7% in the second quarter. Sei Investments Co. now owns 657,093 shares of the company’s stock valued at $59,732,000 after buying an additional 116,968 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CL. Citigroup upped their target price on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Bank of America cut their price target on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating for the company in a report on Friday, April 10th. TD Cowen reissued a “hold” rating and set a $85.00 price target on shares of Colgate-Palmolive in a report on Tuesday, March 31st. Morgan Stanley reissued an “overweight” rating on shares of Colgate-Palmolive in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. increased their price target on shares of Colgate-Palmolive from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.88.

Colgate-Palmolive Stock Up 2.0%

CL stock opened at $89.89 on Tuesday. The company’s 50 day simple moving average is $86.24 and its 200-day simple moving average is $84.82. The firm has a market capitalization of $72.12 billion, a PE ratio of 34.98, a P/E/G ratio of 4.58 and a beta of 0.31. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, May 1st. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. The business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 earnings per share. Equities analysts expect that Colgate-Palmolive Company will post 3.82 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, April 20th were given a $0.53 dividend. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Monday, April 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 82.49%.

Colgate-Palmolive Company 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.