AMF Tjanstepension AB Decreases Stake in Colgate-Palmolive Company $CL

AMF Tjanstepension AB lowered its stake in Colgate-Palmolive Company (NYSE:CL) by 45.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 850,709 shares of the company’s stock after selling 717,332 shares during the quarter. AMF Tjanstepension AB’s holdings in Colgate-Palmolive were worth $72,506,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CL. Norges Bank purchased a new stake in Colgate-Palmolive during the 4th quarter valued at $861,670,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of 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 worth $380,666,000 after purchasing an additional 4,598,789 shares during the period. Balyasny Asset Management L.P. bought a new stake in shares of Colgate-Palmolive in the fourth quarter worth about $236,682,000. Deutsche Bank AG increased its holdings in Colgate-Palmolive by 33.9% during the 4th quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock valued at $857,040,000 after purchasing an additional 2,746,920 shares during the period. Finally, Diamant Asset Management Inc. raised its position in Colgate-Palmolive by 8,123.0% during the 1st quarter. Diamant Asset Management Inc. now owns 2,359,166 shares of the company’s stock valued at $201,072,000 after purchasing an additional 2,330,476 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CL shares. UBS Group boosted their target price on Colgate-Palmolive from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Weiss Ratings upgraded shares of Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 4th. TD Cowen reaffirmed a “hold” rating and set a $85.00 target price on shares of Colgate-Palmolive in a research note on Tuesday, March 31st. Wells Fargo & Company boosted their price target on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $99.00 target price on shares of Colgate-Palmolive in a report on Monday, May 4th. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and an average price target of $96.29.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $92.31 on Monday. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. The company has a 50 day simple moving average of $89.91 and a two-hundred day simple moving average of $88.17. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The company has a market capitalization of $73.86 billion, a price-to-earnings ratio of 35.92, a P/E/G ratio of 4.86 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.03. The company 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%.The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.91 EPS. Analysts expect that Colgate-Palmolive Company will post 3.81 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be paid a $0.53 dividend. The ex-dividend date is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. Colgate-Palmolive’s payout ratio is presently 82.49%.

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.