E. Ohman J or Asset Management AB Cuts Stake in Colgate-Palmolive Company $CL

E. Ohman J or Asset Management AB lowered its position in shares of Colgate-Palmolive Company (NYSE:CL) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 465,529 shares of the company’s stock after selling 6,200 shares during the period. Colgate-Palmolive makes up approximately 0.9% of E. Ohman J or Asset Management AB’s portfolio, making the stock its 26th largest position. E. Ohman J or Asset Management AB owned approximately 0.06% of Colgate-Palmolive worth $36,786,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Colgate-Palmolive in the second quarter worth $960,390,000. Invesco Ltd. lifted its holdings in shares of Colgate-Palmolive by 13.1% during the third quarter. Invesco Ltd. now owns 8,467,993 shares of the company’s stock valued at $676,931,000 after purchasing an additional 978,943 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its position in shares of Colgate-Palmolive by 46.7% during the third quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company’s stock valued at $645,719,000 after buying an additional 2,572,796 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Colgate-Palmolive by 5.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 6,423,764 shares of the company’s stock worth $517,167,000 after buying an additional 314,584 shares in the last quarter. Finally, Amundi increased its holdings in Colgate-Palmolive by 41.6% in the 3rd quarter. Amundi now owns 6,294,445 shares of the company’s stock worth $487,505,000 after buying an additional 1,850,412 shares in the last quarter. 80.41% of the stock is owned by institutional investors.

Insider Buying and Selling at Colgate-Palmolive

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

Analyst Ratings Changes

CL has been the subject of several research reports. Royal Bank Of Canada raised shares of Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 price objective for the company in a report on Tuesday, December 9th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $100.00 target price on shares of Colgate-Palmolive in a research report on Friday, February 20th. UBS Group boosted their target price on shares of Colgate-Palmolive from $90.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, January 14th. JPMorgan Chase & Co. increased their price target on Colgate-Palmolive from $93.00 to $97.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Finally, Argus reaffirmed a “hold” rating on shares of Colgate-Palmolive in a 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.com, the stock has an average rating of “Moderate Buy” and an average target price of $94.75.

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $85.00 on Tuesday. The company has a debt-to-equity ratio of 18.82, a current ratio of 0.83 and a quick ratio of 0.54. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33. The company has a market capitalization of $68.52 billion, a P/E ratio of 32.44, a P/E/G ratio of 3.81 and a beta of 0.28. The firm’s 50 day simple moving average is $91.07 and its two-hundred day simple moving average is $83.37.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, January 30th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The business had revenue of $5.23 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same period last year, the firm earned $0.91 earnings per share. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Research analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 20th will be given a dividend of $0.53 per share. The ex-dividend date is Monday, April 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.5%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. Colgate-Palmolive’s dividend payout ratio is currently 79.39%.

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.