Avanza Fonder AB Purchases 4,660 Shares of Colgate-Palmolive Company $CL

Key Points

• Avanza Fonder AB increased its stake in Colgate-Palmolive by 6.5%, acquiring an additional 4,660 shares to bring its total holdings to 76,582 shares, valued at approximately $6.96 million.
• Recent analyst ratings show a mix of target price adjustments, with JPMorgan Chase lowering their target from $99 to $95 while maintaining an "overweight" rating, and Citigroup decreasing theirs from $108 to $105 with a "buy" rating.
• Colgate-Palmolive announced a quarterly dividend of $0.52, set to be paid on November 14, and has a current dividend yield of 2.6% with a payout ratio of 58.43%.

Avanza Fonder AB increased its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 6.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,582 shares of the company's stock after acquiring an additional 4,660 shares during the quarter. Avanza Fonder AB's holdings in Colgate-Palmolive were worth $6,961,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Cornerstone Wealth Management LLC increased its holdings in shares of Colgate-Palmolive by 1.2% during the 1st quarter. Cornerstone Wealth Management LLC now owns 9,035 shares of the company's stock worth $847,000 after purchasing an additional 110 shares during the period. Aberdeen Wealth Management LLC increased its holdings in shares of Colgate-Palmolive by 0.6% during the 4th quarter. Aberdeen Wealth Management LLC now owns 20,651 shares of the company's stock worth $1,877,000 after purchasing an additional 125 shares during the period. Redhawk Wealth Advisors Inc. increased its holdings in shares of Colgate-Palmolive by 2.4% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 5,467 shares of the company's stock worth $497,000 after purchasing an additional 129 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its position in shares of Colgate-Palmolive by 4.0% during the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 3,388 shares of the company's stock valued at $317,000 after acquiring an additional 130 shares in the last quarter. Finally, KFG Wealth Management LLC boosted its position in shares of Colgate-Palmolive by 1.5% during the 1st quarter. KFG Wealth Management LLC now owns 8,835 shares of the company's stock valued at $828,000 after acquiring an additional 131 shares in the last quarter. Institutional investors own 80.41% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Citigroup reduced their target price on shares of Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. Morgan Stanley reduced their target price on shares of Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Barclays upped their target price on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Finally, UBS Group dropped their price target on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $98.00.

Colgate-Palmolive Stock Performance

Shares of CL opened at $81.23 on Friday. The stock has a market capitalization of $65.65 billion, a price-to-earnings ratio of 22.82, a PEG ratio of 4.22 and a beta of 0.35. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. The firm has a fifty day simple moving average of $84.97 and a 200 day simple moving average of $89.20. Colgate-Palmolive Company has a 12 month low of $81.01 and a 12 month high of $104.49.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to analysts' expectations of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The company's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 earnings per share. Research analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.6%. Colgate-Palmolive's dividend payout ratio is presently 58.43%.

Colgate-Palmolive Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.

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