E. Ohman J or Asset Management AB Has $41.91 Million Stock Position in Colgate-Palmolive Company $CL

Key Points

• E. Ohman J or Asset Management AB boosted its Colgate-Palmolive stake by 5.6% in the first quarter, ending with 491,735 shares valued at about $41.9 million.
• Colgate-Palmolive reported better-than-expected quarterly results, posting $0.97 EPS on $5.32 billion in revenue, with revenue up 8.4% year over year.
• The company announced a quarterly dividend of $0.53 per share, implying an annualized payout of $2.12 and a yield of 2.4%; analysts currently rate the stock a Moderate Buy with a consensus target of $95.88.

E. Ohman J or Asset Management AB increased its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 5.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 491,735 shares of the company's stock after acquiring an additional 26,206 shares during the period. Colgate-Palmolive comprises about 1.1% of E. Ohman J or Asset Management AB's holdings, making the stock its 17th largest holding. E. Ohman J or Asset Management AB owned approximately 0.06% of Colgate-Palmolive worth $41,911,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. HighPoint Advisor Group LLC increased its holdings in shares of Colgate-Palmolive by 0.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 15,877 shares of the company's stock valued at $1,255,000 after purchasing an additional 109 shares during the period. Clear Harbor Asset Management LLC boosted its holdings in shares of Colgate-Palmolive by 2.6% during the fourth quarter. Clear Harbor Asset Management LLC now owns 4,503 shares of the company's stock worth $356,000 after purchasing an additional 113 shares during the period. Moneta Group Investment Advisors LLC grew its position in Colgate-Palmolive by 0.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,506 shares of the company's stock valued at $1,225,000 after purchasing an additional 114 shares in the last quarter. Sunpointe LLC increased its stake in Colgate-Palmolive by 4.0% in the 4th quarter. Sunpointe LLC now owns 3,056 shares of the company's stock valued at $241,000 after buying an additional 117 shares during the period. Finally, TD Capital Management LLC lifted its position in Colgate-Palmolive by 61.4% in the 4th quarter. TD Capital Management LLC now owns 326 shares of the company's stock worth $26,000 after buying an additional 124 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CL has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on shares of Colgate-Palmolive from $95.00 to $96.00 and gave the company an "overweight" rating in a research note on Monday, May 4th. TD Cowen reiterated a "hold" rating and set a $85.00 price objective on shares of Colgate-Palmolive in a report on Tuesday, March 31st. Barclays boosted their target price on Colgate-Palmolive from $79.00 to $80.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 5th. Bank of America cut their price target on Colgate-Palmolive from $105.00 to $102.00 and set a "buy" rating for the company in a research note on Friday, April 10th. Finally, Piper Sandler dropped their price objective on Colgate-Palmolive from $96.00 to $92.00 and set an "overweight" rating on the stock in a report on Wednesday, April 8th. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $95.88.

Colgate-Palmolive Trading Up 0.3%

Shares of NYSE:CL opened at $89.74 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33. The stock has a market capitalization of $71.81 billion, a PE ratio of 34.92, a P/E/G ratio of 4.72 and a beta of 0.33. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33. The firm has a fifty day moving average price of $87.40 and a 200 day moving average price of $86.60.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period last year, the company earned $0.91 earnings per share. The business's revenue was up 8.4% compared to the same quarter last year. Analysts expect that Colgate-Palmolive Company will post 3.81 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed 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. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, July 20th. Colgate-Palmolive's dividend payout ratio (DPR) is presently 82.49%.

Colgate-Palmolive 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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