Colgate-Palmolive Company $CL Shares Acquired by Avanza Fonder AB

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 second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,582 shares of the company's stock after purchasing an additional 4,660 shares during the period. Avanza Fonder AB's holdings in Colgate-Palmolive were worth $6,961,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Personal CFO Solutions LLC purchased a new stake in shares of Colgate-Palmolive during the first quarter valued at $285,000. Vision Capital Management Inc. purchased a new position in shares of Colgate-Palmolive during the first quarter valued at approximately $322,000. Autumn Glory Partners LLC boosted its holdings in Colgate-Palmolive by 67.4% in the first quarter. Autumn Glory Partners LLC now owns 8,905 shares of the company's stock worth $851,000 after purchasing an additional 3,586 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in Colgate-Palmolive during the 1st quarter valued at $2,166,000. Finally, Penserra Capital Management LLC lifted its position in Colgate-Palmolive by 398.6% during the first quarter. Penserra Capital Management LLC now owns 10,651 shares of the company's stock valued at $997,000 after purchasing an additional 8,515 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Stock Performance

CL stock traded down $0.30 on Friday, hitting $81.23. The company's stock had a trading volume of 14,727,470 shares, compared to its average volume of 5,043,141. Colgate-Palmolive Company has a 1 year low of $81.01 and a 1 year high of $104.49. The firm has a 50 day moving average of $84.97 and a two-hundred day moving average of $89.18. 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 stock has a market cap of $65.65 billion, a price-to-earnings ratio of 22.82, a price-to-earnings-growth ratio of 4.22 and a beta of 0.35.

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

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive's dividend payout ratio (DPR) is 58.43%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CL shares. Wells Fargo & Company cut their price objective on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a research report on Monday, August 4th. Citigroup decreased their price target on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a research note on Monday, August 4th. UBS Group decreased their target price on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. JPMorgan Chase & Co. cut their price target on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Finally, Morgan Stanley lowered their price objective on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $98.00.

About Colgate-Palmolive

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.