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Colgate-Palmolive (NYSE:CL) Shares Purchased by E. Ohman J or Asset Management AB

Colgate-Palmolive logo with Consumer Staples background

E. Ohman J or Asset Management AB increased its holdings in Colgate-Palmolive (NYSE:CL - Free Report) by 19.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 462,912 shares of the company's stock after acquiring an additional 76,182 shares during the quarter. Colgate-Palmolive makes up about 1.2% of E. Ohman J or Asset Management AB's holdings, making the stock its 19th biggest position. E. Ohman J or Asset Management AB owned 0.06% of Colgate-Palmolive worth $43,375,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Colgate-Palmolive during the 4th quarter worth $26,000. Centricity Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive during the 4th quarter worth $27,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Colgate-Palmolive during the 4th quarter worth $31,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Colgate-Palmolive during the 4th quarter worth $32,000. Finally, Briaud Financial Planning Inc purchased a new stake in shares of Colgate-Palmolive during the 4th quarter worth $32,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CL shares. Barclays cut their price target on Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. Wells Fargo & Company lifted their price target on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 2nd. UBS Group lifted their price target on Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Piper Sandler cut their price target on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. Finally, Wall Street Zen downgraded Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $102.12.

View Our Latest Stock Analysis on CL

Colgate-Palmolive Trading Up 0.8%

Shares of CL traded up $0.70 during mid-day trading on Monday, hitting $90.94. The company had a trading volume of 5,893,012 shares, compared to its average volume of 4,725,278. The business's 50-day simple moving average is $91.77 and its 200-day simple moving average is $91.15. 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 1-year low of $85.32 and a 1-year high of $109.30. The stock has a market cap of $73.70 billion, a PE ratio of 25.83, a P/E/G ratio of 4.20 and a beta of 0.38.

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

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.29%. This is a boost from Colgate-Palmolive's previous quarterly dividend of $0.50. The ex-dividend date was Thursday, April 17th. Colgate-Palmolive's payout ratio is 58.76%.

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

About Colgate-Palmolive

(Free Report)

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.

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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