E. Ohman J or Asset Management AB Acquires 72,576 Shares of Colgate-Palmolive Company $CL

Key Points

• E. Ohman J or Asset Management AB increased its Colgate-Palmolive stake by 14.8%, purchasing 72,576 shares to hold 564,311 shares valued at approximately $51.7 million. Institutional investors collectively own 80.41% of the company.
• Analysts maintain a generally positive view, with 12 Buy ratings and seven Holds, producing a “Moderate Buy” consensus and an average price target of $99. Colgate-Palmolive also beat quarterly earnings estimates, reporting $0.99 per share versus the $0.95 consensus.
• The company declared a quarterly dividend of $0.53 per share, equal to an annualized $2.12 and a 2.3% yield. Separately, CEO Noel Wallace sold 161,021 shares to cover tax withholding obligations tied to equity awards.

E. Ohman J or Asset Management AB boosted its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 14.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 564,311 shares of the company's stock after buying an additional 72,576 shares during the period. Colgate-Palmolive makes up about 1.2% of E. Ohman J or Asset Management AB's investment portfolio, making the stock its 14th biggest position. E. Ohman J or Asset Management AB owned approximately 0.07% of Colgate-Palmolive worth $51,736,000 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. Kemnay Advisory Services Inc. acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at $25,000. CBIZ Investment Advisory Services LLC boosted its position in shares of Colgate-Palmolive by 86.7% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company's stock worth $26,000 after purchasing an additional 150 shares during the last quarter. TD Capital Management LLC grew its stake in shares of Colgate-Palmolive by 61.4% during 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 period. Triumph Capital Management increased its holdings in Colgate-Palmolive by 62.9% in the fourth quarter. Triumph Capital Management now owns 329 shares of the company's stock valued at $26,000 after purchasing an additional 127 shares during the last quarter. Finally, Jessup Wealth Management Inc bought a new stake in Colgate-Palmolive in the fourth quarter valued at about $26,000. 80.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

CL has been the topic of a number of recent analyst reports. Royal Bank Of Canada raised their target price on Colgate-Palmolive from $102.00 to $104.00 and gave the stock an "outperform" rating in a report on Monday, August 3rd. Jefferies Financial Group reaffirmed a "hold" rating on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Weiss Ratings reissued a "hold (c+)" rating on shares of Colgate-Palmolive in a research note on Friday, July 31st. JPMorgan Chase & Co. decreased their price objective 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. Finally, TD Cowen upped their target price on shares of Colgate-Palmolive from $85.00 to $90.00 and gave the company a "hold" rating in a research note on Monday, August 3rd. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $99.00.

Insider Transactions at Colgate-Palmolive

In other news, CEO Noel R. Wallace sold 161,021 shares of the company's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the completion of the transaction, the chief executive officer directly owned 362,231 shares of the company's stock, valued at $33,296,273.52. This represents a 30.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Cahill sold 4,170 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $93.37, for a total value of $389,352.90. Following the transaction, the director owned 28,373 shares of the company's stock, valued at approximately $2,649,187.01. The trade was a 12.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.43% of the stock is currently owned by corporate insiders.

Colgate-Palmolive Price Performance

NYSE CL opened at $92.97 on Tuesday. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03. The stock has a market cap of $74.11 billion, a price-to-earnings ratio of 36.89, a PEG ratio of 4.55 and a beta of 0.33. The business has a 50 day simple moving average of $91.22 and a 200 day simple moving average of $89.83. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.04. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The firm had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.36 billion. During the same quarter in the previous year, the firm posted $0.92 earnings per share. The business's revenue was up 4.9% on a year-over-year basis. Analysts anticipate that Colgate-Palmolive Company will post 3.86 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. Colgate-Palmolive's dividend payout ratio is presently 84.13%.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company's core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.

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