Colgate-Palmolive (NYSE:CL) Stock Holdings Lowered by Avanza Fonder AB

Avanza Fonder AB reduced its holdings in Colgate-Palmolive (NYSE:CL) by 17.7% during the first quarter, Holdings Channel reports. The firm owned 71,922 shares of the company’s stock after selling 15,465 shares during the period. Avanza Fonder AB’s holdings in Colgate-Palmolive were worth $6,728,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Aviva PLC increased its position in shares of Colgate-Palmolive by 13.4% in the fourth quarter. Aviva PLC now owns 973,421 shares of the company’s stock worth $88,494,000 after acquiring an additional 114,855 shares in the last quarter. Atlas Legacy Advisors LLC purchased a new position in shares of Colgate-Palmolive in the fourth quarter worth approximately $311,000. SBI Securities Co. Ltd. purchased a new position in shares of Colgate-Palmolive in the fourth quarter worth approximately $304,000. Jupiter Asset Management Ltd. increased its position in shares of Colgate-Palmolive by 2.3% in the fourth quarter. Jupiter Asset Management Ltd. now owns 685,718 shares of the company’s stock worth $62,339,000 after acquiring an additional 15,142 shares in the last quarter. Finally, Summit Investment Advisors Inc. increased its position in shares of Colgate-Palmolive by 10.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 32,710 shares of the company’s stock worth $2,974,000 after acquiring an additional 3,187 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Price Performance

NYSE CL opened at $90.94 on Tuesday. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40. The stock has a market capitalization of $73.70 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 4.20 and a beta of 0.38. The company has a 50 day moving average price of $91.71 and a two-hundred day moving average price of $91.12. Colgate-Palmolive has a 12-month low of $85.32 and a 12-month high of $109.30.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. The firm had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.92 billion. During the same period in the previous year, the company earned $0.86 earnings per share. The company’s revenue was down 3.0% compared to the same quarter last year. As a group, equities analysts predict that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive announced that its Board of Directors has authorized a share buyback program on Thursday, March 20th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Colgate-Palmolive Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.29%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date was Thursday, April 17th. Colgate-Palmolive’s payout ratio is presently 58.76%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CL shares. UBS Group lifted their target price on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Wall Street Zen downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. boosted their price objective on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, April 28th. Citigroup boosted their price objective on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the company a “buy” rating in a research report on Monday, April 28th. Finally, Barclays lowered their price objective on shares of Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $102.12.

About Colgate-Palmolive

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.