Handelsbanken Fonder AB Sells 13,946 Shares of Colgate-Palmolive Company $CL

Handelsbanken Fonder AB trimmed its position in shares of Colgate-Palmolive Company (NYSE:CL) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 307,740 shares of the company’s stock after selling 13,946 shares during the period. Handelsbanken Fonder AB’s holdings in Colgate-Palmolive were worth $24,318,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CL. Providence Capital Advisors LLC bought a new stake in shares of Colgate-Palmolive in the 3rd quarter valued at approximately $5,373,000. ProShare Advisors LLC grew its stake in shares of Colgate-Palmolive by 11.0% in the 3rd quarter. ProShare Advisors LLC now owns 2,047,542 shares of the company’s stock valued at $163,681,000 after purchasing an additional 202,379 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Colgate-Palmolive by 18.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 800,554 shares of the company’s stock valued at $63,996,000 after purchasing an additional 122,202 shares during the period. Citigroup Inc. grew its stake in shares of Colgate-Palmolive by 43.7% in the 3rd quarter. Citigroup Inc. now owns 1,346,590 shares of the company’s stock valued at $107,646,000 after purchasing an additional 409,710 shares during the period. Finally, TD Waterhouse Canada Inc. grew its stake in shares of Colgate-Palmolive by 248.5% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 87,410 shares of the company’s stock valued at $6,909,000 after purchasing an additional 62,327 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Stock Up 0.5%

Shares of CL opened at $90.44 on Thursday. The company has a market capitalization of $72.56 billion, a P/E ratio of 35.19, a PEG ratio of 4.67 and a beta of 0.31. 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 Company has a one year low of $74.54 and a one year high of $99.33. The business’s 50 day simple moving average is $86.12 and its 200-day simple moving average is $85.02.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, May 1st. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.94 by $0.03. The business had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.Colgate-Palmolive’s revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 EPS. As a group, sell-side analysts predict that Colgate-Palmolive Company will post 3.82 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, April 20th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, April 20th. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 82.49%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CL shares. The Goldman Sachs Group reiterated a “buy” rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. Rothschild & Co Redburn set a $100.00 price objective on Colgate-Palmolive and gave the company a “buy” rating in a research note on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $99.00 price objective on shares of Colgate-Palmolive in a research note on Monday, May 4th. Barclays upped their price objective on Colgate-Palmolive from $79.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 5th. Finally, Wall Street Zen lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Sunday, March 29th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus target price of $95.88.

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.