Avanza Fonder AB Cuts Stock Holdings in Colgate-Palmolive (NYSE:CL)

Avanza Fonder AB lessened its holdings in Colgate-Palmolive (NYSE:CL - Free Report) by 17.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 71,922 shares of the company's stock after selling 15,465 shares during the period. Avanza Fonder AB's holdings in Colgate-Palmolive were worth $6,728,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Abacus FCF Advisors LLC boosted its stake in shares of Colgate-Palmolive by 66.5% in the 1st quarter. Abacus FCF Advisors LLC now owns 162,163 shares of the company's stock valued at $15,195,000 after purchasing an additional 64,742 shares in the last quarter. Simplicity Wealth LLC grew its stake in shares of Colgate-Palmolive by 393.1% during the first quarter. Simplicity Wealth LLC now owns 15,064 shares of the company's stock worth $1,411,000 after buying an additional 12,009 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Colgate-Palmolive by 14.2% during the first quarter. GAMMA Investing LLC now owns 11,797 shares of the company's stock worth $1,105,000 after buying an additional 1,468 shares in the last quarter. Wealthcare Advisory Partners LLC increased its holdings in shares of Colgate-Palmolive by 10.0% during the first quarter. Wealthcare Advisory Partners LLC now owns 4,411 shares of the company's stock worth $413,000 after buying an additional 402 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Colgate-Palmolive by 7.2% in the 1st quarter. Harbor Capital Advisors Inc. now owns 14,879 shares of the company's stock valued at $1,394,000 after acquiring an additional 1,005 shares during the last quarter. Institutional investors own 80.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CL. Piper Sandler dropped their price objective on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a report on Monday, March 31st. Wall Street Zen lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Wells Fargo & Company raised their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 2nd. Citigroup increased their price target on Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a research note on Monday, April 28th. Finally, UBS Group lifted their price objective on Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, Colgate-Palmolive presently has an average rating of "Hold" and a consensus target price of $102.12.

Colgate-Palmolive Stock Up 0.1%

NYSE:CL traded up $0.08 on Wednesday, hitting $92.02. The stock had a trading volume of 5,353,809 shares, compared to its average volume of 4,740,439. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40. Colgate-Palmolive has a 52 week low of $85.32 and a 52 week high of $109.30. The business's fifty day moving average is $91.63 and its 200 day moving average is $91.13. The company has a market cap of $74.57 billion, a PE ratio of 26.14, a P/E/G ratio of 4.20 and a beta of 0.38.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.86 by $0.05. The company had revenue of $4.91 billion for the quarter, compared to analysts' expectations of $4.92 billion. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. Colgate-Palmolive's quarterly revenue was down 3.0% compared to the same quarter last year. During the same period last year, the business earned $0.86 EPS. On average, equities research analysts expect that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive declared that its Board of Directors has authorized a stock buyback plan on Thursday, March 20th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 6.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board believes its shares are undervalued.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th were issued a dividend of $0.52 per share. This is a boost from Colgate-Palmolive's previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date was Thursday, April 17th. Colgate-Palmolive's dividend payout ratio (DPR) is currently 58.76%.

Colgate-Palmolive Company 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.