Skandinaviska Enskilda Banken AB publ Sells 277,619 Shares of Colgate-Palmolive Company $CL

Skandinaviska Enskilda Banken AB publ decreased its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 17.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,355,285 shares of the company’s stock after selling 277,619 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Colgate-Palmolive were worth $108,341,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Westside Investment Management Inc. increased its stake in Colgate-Palmolive by 85.5% during the second quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after acquiring an additional 130 shares during the period. Vermillion & White Wealth Management Group LLC grew its holdings in shares of Colgate-Palmolive by 86.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock worth $30,000 after purchasing an additional 155 shares in the last quarter. Copia Wealth Management bought a new stake in shares of Colgate-Palmolive during the third quarter valued at approximately $29,000. Cloud Capital Management LLC acquired a new position in shares of Colgate-Palmolive in the third quarter valued at $30,000. Finally, MTM Investment Management LLC bought a new position in Colgate-Palmolive in the second quarter worth $39,000. Institutional investors own 80.41% of the company’s stock.

Insider Transactions at Colgate-Palmolive

In related news, insider John Hazlin sold 20,989 shares of Colgate-Palmolive stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $94.25, for a total value of $1,978,213.25. Following the completion of the sale, the insider directly owned 17,645 shares in the company, valued at $1,663,041.25. This trade represents a 54.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sally Massey sold 15,851 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $95.03, for a total transaction of $1,506,320.53. Following the transaction, the insider owned 13,751 shares in the company, valued at approximately $1,306,757.53. The trade was a 53.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 184,683 shares of company stock worth $17,486,693 in the last ninety days. 0.41% of the stock is currently owned by insiders.

Colgate-Palmolive Trading Up 0.5%

CL opened at $96.61 on Tuesday. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $100.18. The stock has a market capitalization of $77.87 billion, a PE ratio of 36.87, a PEG ratio of 4.36 and a beta of 0.29. The company has a current ratio of 0.42, a quick ratio of 0.27 and a debt-to-equity ratio of 5.90. The firm has a 50-day moving average price of $84.21 and a two-hundred day moving average price of $81.93.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, January 30th. The company reported $0.95 EPS for the quarter, beating 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 business had revenue of $5.23 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same period in the prior year, the firm earned $0.91 earnings per share. Colgate-Palmolive’s revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Wednesday, January 21st were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Wednesday, January 21st. Colgate-Palmolive’s dividend payout ratio is 79.39%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CL shares. Bank of America increased their price objective on shares of Colgate-Palmolive from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Piper Sandler increased their price target on shares of Colgate-Palmolive from $88.00 to $96.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Jefferies Financial Group lifted their price objective on Colgate-Palmolive from $85.00 to $91.00 and gave the company a “hold” rating in a report on Monday, February 2nd. Evercore increased their target price on Colgate-Palmolive from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Finally, Argus restated a “hold” rating on shares of Colgate-Palmolive in a research report on Thursday, December 11th. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $94.38.

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.