Swedbank AB Buys 376,541 Shares of Colgate-Palmolive Company $CL

Swedbank AB boosted its position in shares of Colgate-Palmolive Company (NYSE:CL) by 9.5% in the third quarter, Holdings Channel.com reports. The firm owned 4,328,511 shares of the company’s stock after acquiring an additional 376,541 shares during the period. Swedbank AB’s holdings in Colgate-Palmolive were worth $346,021,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Westside Investment Management Inc. boosted its position in shares of Colgate-Palmolive by 85.5% during the second quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock worth $26,000 after buying an additional 130 shares during the period. Saudi Central Bank bought a new stake in Colgate-Palmolive in the 1st quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC boosted its position in 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 acquiring an additional 155 shares during the last quarter. Ransom Advisory Ltd bought a new position in shares of Colgate-Palmolive during the 1st quarter worth approximately $33,000. Finally, MTM Investment Management LLC acquired a new stake in shares of Colgate-Palmolive in the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Trading Up 1.1%

Colgate-Palmolive stock opened at $79.93 on Wednesday. The stock has a 50-day simple moving average of $78.39 and a 200 day simple moving average of $82.87. The stock has a market capitalization of $64.43 billion, a P/E ratio of 22.39, a PEG ratio of 5.63 and a beta of 0.30. The company has a debt-to-equity ratio of 5.90, a quick ratio of 0.60 and a current ratio of 0.93. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $100.18.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. Colgate-Palmolive had a return on equity of 333.39% and a net margin of 14.47%.The company had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.17 billion. During the same period last year, the firm posted $0.91 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis. Analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Wednesday, January 21st will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, January 21st. Colgate-Palmolive’s payout ratio is 58.26%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CL shares. Argus restated a “hold” rating on shares of Colgate-Palmolive in a report on Thursday, December 11th. Citigroup reduced their price objective on shares of Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Morgan Stanley decreased their price objective on Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating for the company in a report on Monday, November 3rd. Royal Bank Of Canada upgraded Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 target price on the stock in a report on Tuesday, December 9th. Finally, Evercore ISI reduced their price target on Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Ten research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $88.81.

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.