Andra AP fonden Purchases New Shares in Colgate-Palmolive Company $CL

Key Points

• Andra AP fonden bought 198,668 Colgate-Palmolive shares in the second quarter, valued at approximately $18.2 million. Institutional investors collectively own 80.41% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $98.94. The company recently exceeded quarterly earnings expectations, reporting $0.99 EPS versus the $0.95 consensus.
• Colgate-Palmolive announced a quarterly dividend of $0.53 per share, equivalent to a 2.4% annualized yield. Meanwhile, insiders sold 175,191 shares worth about $16.1 million over the past 90 days.

Andra AP fonden purchased a new stake in Colgate-Palmolive Company (NYSE:CL - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 198,668 shares of the company's stock, valued at approximately $18,214,000.

Several other institutional investors have also modified their holdings of the stock. CBIZ Investment Advisory Services LLC grew its stake in shares of Colgate-Palmolive by 86.7% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company's stock valued at $26,000 after buying an additional 150 shares during the last quarter. TD Capital Management LLC grew its holdings in shares of Colgate-Palmolive by 61.4% in the fourth quarter. TD Capital Management LLC now owns 326 shares of the company's stock worth $26,000 after purchasing an additional 124 shares during the last quarter. Parvin Asset Management LLC bought a new stake in Colgate-Palmolive during the 2nd quarter valued at about $32,000. Park Place Capital Corp boosted its position in Colgate-Palmolive by 55.5% in the 2nd quarter. Park Place Capital Corp now owns 356 shares of the company's stock valued at $33,000 after buying an additional 127 shares during the period. Finally, Gould Capital LLC increased its position in shares of Colgate-Palmolive by 38.7% during the first quarter. Gould Capital LLC now owns 412 shares of the company's stock worth $35,000 after acquiring an additional 115 shares during the period. 80.41% of the stock is owned by institutional investors.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 161,021 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total value of $14,801,050.32. Following the sale, the chief executive officer owned 362,231 shares of the company's stock, valued at $33,296,273.52. This trade represents a 30.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Panagiotis Tsourapas sold 10,000 shares of the business's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $92.05, for a total value of $920,500.00. Following the transaction, the chief operating officer directly owned 64,901 shares of the company's stock, valued at approximately $5,974,137.05. This represents a 13.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 175,191 shares of company stock valued at $16,110,903 in the last 90 days. Company insiders own 0.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CL. TD Cowen raised their price objective on Colgate-Palmolive from $85.00 to $90.00 and gave the stock a "hold" rating in a report on Monday, August 3rd. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Colgate-Palmolive in a research note on Thursday, August 13th. JPMorgan Chase & Co. reduced their price target on shares of Colgate-Palmolive from $104.00 to $103.00 and set an "overweight" rating for the company in a report on Monday, August 3rd. Jefferies Financial Group reissued a "hold" rating on shares of Colgate-Palmolive in a report on Monday, August 3rd. Finally, UBS Group increased their target price on Colgate-Palmolive from $106.00 to $109.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Thirteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive currently has a consensus rating of "Moderate Buy" and an average price target of $98.94.

Colgate-Palmolive Trading Up 1.2%

Colgate-Palmolive stock traded up $1.00 during trading on Tuesday, hitting $87.26. The company had a trading volume of 1,211,591 shares, compared to its average volume of 5,727,583. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82. The company's 50 day simple moving average is $90.65 and its 200-day simple moving average is $89.13. The stock has a market cap of $69.56 billion, a price-to-earnings ratio of 34.64, a price-to-earnings-growth ratio of 4.08 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.95 by $0.04. The business had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The company's quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the business posted $0.92 earnings per share. As a group, analysts expect that Colgate-Palmolive Company will post 3.87 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 20th will be issued a dividend of $0.53 per share. The ex-dividend date is Tuesday, October 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. Colgate-Palmolive's dividend payout ratio is 84.13%.

About Colgate-Palmolive

Colgate-Palmolive Company NYSE: CL is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its products are sold in more than 200 countries and territories through retail stores, e-commerce channels and professional networks.

The company's portfolio includes Colgate toothpaste, toothbrushes and mouthwashes; Palmolive and Softsoap personal care products; Ajax and other household cleaning products; and Hill's Science Diet and Prescription Diet pet foods.

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