E. Ohman J or Asset Management AB Raises Position in Colgate-Palmolive (NYSE:CL)

E. Ohman J or Asset Management AB grew its position in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 19.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 462,912 shares of the company's stock after acquiring an additional 76,182 shares during the period. Colgate-Palmolive comprises about 1.2% of E. Ohman J or Asset Management AB's holdings, making the stock its 19th largest holding. E. Ohman J or Asset Management AB owned about 0.06% of Colgate-Palmolive worth $43,375,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CL. Kohmann Bosshard Financial Services LLC bought a new position in Colgate-Palmolive in the fourth quarter worth $26,000. Centricity Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive in the 4th quarter worth about $27,000. Vermillion Wealth Management Inc. bought a new position in shares of Colgate-Palmolive in the 4th quarter worth about $31,000. Union Bancaire Privee UBP SA purchased a new position in Colgate-Palmolive during the 4th quarter valued at about $32,000. Finally, Briaud Financial Planning Inc bought a new stake in Colgate-Palmolive during the fourth quarter worth about $32,000. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Price Performance

Shares of CL opened at $90.04 on Friday. The firm has a fifty day simple moving average of $91.84 and a two-hundred day simple moving average of $91.21. The firm has a market cap of $72.97 billion, a PE ratio of 25.58, a P/E/G ratio of 4.20 and a beta of 0.38. The company has a current ratio of 0.92, a quick ratio of 0.58 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.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.92 billion. During the same period in the previous year, the business posted $0.86 earnings per share. The firm's quarterly revenue was down 3.0% compared to the same quarter last year. On average, equities analysts anticipate that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th were paid a dividend of $0.52 per share. This is a boost from Colgate-Palmolive's previous quarterly dividend of $0.50. The ex-dividend date was Thursday, April 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.31%. Colgate-Palmolive's dividend payout ratio (DPR) is presently 58.76%.

Colgate-Palmolive declared that its board has authorized a share buyback program on Thursday, March 20th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CL shares. UBS Group raised their target price on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Barclays reduced their price objective on Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. Wall Street Zen downgraded Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Citigroup increased their target price on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. Finally, Piper Sandler decreased their target price 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. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Colgate-Palmolive currently has a consensus rating of "Hold" and a consensus price target of $102.12.

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.

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