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

AMF Tjanstepension AB lessened its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 45.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 850,709 shares of the company's stock after selling 717,332 shares during the period. AMF Tjanstepension AB owned approximately 0.11% of Colgate-Palmolive worth $72,506,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new position in Colgate-Palmolive in the fourth quarter worth $25,000. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Colgate-Palmolive by 86.7% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company's stock worth $26,000 after buying an additional 150 shares during the last quarter. TD Capital Management LLC grew its position in Colgate-Palmolive by 61.4% during the fourth quarter. TD Capital Management LLC now owns 326 shares of the company's stock valued at $26,000 after buying an additional 124 shares during the period. Triumph Capital Management increased its holdings in Colgate-Palmolive by 62.9% during the fourth quarter. Triumph Capital Management now owns 329 shares of the company's stock worth $26,000 after buying an additional 127 shares during the last quarter. Finally, Jessup Wealth Management Inc bought a new stake in Colgate-Palmolive in the fourth quarter worth about $26,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Price Performance

CL stock opened at $92.31 on Monday. The firm has a 50 day simple moving average of $89.91 and a two-hundred day simple moving average of $88.17. The stock has a market cap of $73.86 billion, a PE ratio of 35.92, a P/E/G ratio of 4.86 and a beta of 0.33. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. 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 (NYSE:CL - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The firm had revenue of $5.32 billion for the quarter, compared to analysts' expectations of $5.22 billion. During the same quarter last year, the company posted $0.91 EPS. The business's quarterly revenue was up 8.4% on a year-over-year basis. On average, analysts predict that Colgate-Palmolive Company will post 3.81 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be given 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%.

Wall Street Analyst Weigh In

A number of research firms recently commented on CL. Wall Street Zen cut shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Sunday, March 29th. Wells Fargo & Company boosted their target price on Colgate-Palmolive from $92.00 to $95.00 and gave the company an "equal weight" rating in a research note on Wednesday. UBS Group increased their target price on shares of Colgate-Palmolive from $98.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Piper Sandler lifted their price target on Colgate-Palmolive from $92.00 to $96.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Sanford C. Bernstein assumed coverage on shares of Colgate-Palmolive in a research note on Thursday, June 11th. They set a "market perform" rating and a $96.00 price objective for the company. Twelve equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Colgate-Palmolive currently has an average rating of "Moderate Buy" and a consensus target price of $96.29.

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.

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