Fjarde AP Fonden Fourth Swedish National Pension Fund Boosts Stock Holdings in Colgate-Palmolive Company $CL

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Colgate-Palmolive Company (NYSE:CL) by 62.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 561,024 shares of the company’s stock after buying an additional 215,300 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund owned approximately 0.07% of Colgate-Palmolive worth $47,816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Colgate-Palmolive during the 4th quarter worth $861,670,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Colgate-Palmolive by 8,040.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock valued at $380,666,000 after purchasing an additional 4,598,789 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in Colgate-Palmolive during the fourth quarter valued at about $236,682,000. Deutsche Bank AG boosted its position in Colgate-Palmolive by 33.9% during the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock worth $857,040,000 after purchasing an additional 2,746,920 shares during the period. Finally, Diamant Asset Management Inc. increased its stake in shares of Colgate-Palmolive by 8,123.0% in the first quarter. Diamant Asset Management Inc. now owns 2,359,166 shares of the company’s stock worth $201,072,000 after purchasing an additional 2,330,476 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Price Performance

CL stock opened at $95.17 on Friday. The firm has a 50 day moving average of $88.81 and a 200-day moving average of $87.56. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The firm has a market capitalization of $76.15 billion, a P/E ratio of 37.03, a price-to-earnings-growth ratio of 4.89 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the prior year, the firm posted $0.91 EPS. Colgate-Palmolive’s revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts predict that Colgate-Palmolive Company will post 3.81 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, July 20th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.2%. Colgate-Palmolive’s dividend payout ratio is presently 82.49%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Colgate-Palmolive from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Morgan Stanley reiterated an “overweight” rating on shares of Colgate-Palmolive in a research note on Monday, May 4th. Piper Sandler lowered their target price on shares of Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th. Wells Fargo & Company dropped their target price on Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. Finally, UBS Group raised their price target on Colgate-Palmolive from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.88.

About Colgate-Palmolive

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.