Forsta AP Fonden Reduces Stock Position in Colgate-Palmolive Company (NYSE:CL)

Key Points

• Forsta AP Fonden has reduced its stake in Colgate-Palmolive by 3.5%, now holding 247,600 shares worth approximately $23.2 million.
• Colgate-Palmolive reported earnings of $0.92 per share for the latest quarter, beating estimates, and had a revenue of $5.11 billion, up 1% year-over-year.
• The company's quarterly dividend of $0.52 per share, which reflects a 2.5% yield, is set to be paid on August 15th, with a payout ratio of 58.43%.

Forsta AP Fonden lowered its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 3.5% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 247,600 shares of the company's stock after selling 8,900 shares during the quarter. Forsta AP Fonden's holdings in Colgate-Palmolive were worth $23,200,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Personal CFO Solutions LLC acquired a new stake in Colgate-Palmolive during the 1st quarter worth about $285,000. Vision Capital Management Inc. purchased a new position in shares of Colgate-Palmolive during the 1st quarter valued at about $322,000. Autumn Glory Partners LLC raised its stake in shares of Colgate-Palmolive by 67.4% during the 1st quarter. Autumn Glory Partners LLC now owns 8,905 shares of the company's stock valued at $851,000 after buying an additional 3,586 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new position in shares of Colgate-Palmolive during the 1st quarter valued at about $2,166,000. Finally, Summit Investment Advisors Inc. raised its stake in shares of Colgate-Palmolive by 10.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 32,710 shares of the company's stock valued at $2,974,000 after buying an additional 3,187 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Price Performance

NYSE:CL traded down $0.00 during trading hours on Friday, hitting $84.71. 4,133,894 shares of the stock were exchanged, compared to its average volume of 4,850,591. Colgate-Palmolive Company has a 52-week low of $82.40 and a 52-week high of $109.30. The firm's fifty day moving average price is $88.76 and its 200 day moving average price is $90.15. The company has a current ratio of 0.89, a quick ratio of 0.28 and a debt-to-equity ratio of 6.79. The company has a market cap of $68.46 billion, a P/E ratio of 23.79, a P/E/G ratio of 4.41 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.89 by $0.03. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same period in the previous year, the business earned $0.91 EPS. Colgate-Palmolive's quarterly revenue was up 1.0% on a year-over-year basis. As a group, equities research analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive's payout ratio is 58.43%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CL. Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Barclays lifted their price objective on Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Wells Fargo & Company reduced their price objective on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a research note on Monday, August 4th. Citigroup reduced their price objective 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. Finally, JPMorgan Chase & Co. cut their price target on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, Colgate-Palmolive presently has an average rating of "Hold" and an average price target of $98.92.

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.