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

Key Points

• E. Ohman J or Asset Management AB reduced its holdings in Colgate-Palmolive by 5.2%, now owning 438,915 shares valued at approximately $39.9 million, marking Colgate-Palmolive as its 23rd biggest position.
• Various institutional investors have increased their stakes in Colgate-Palmolive, with Westend Capital Management lifting its stake by 111.1% during the first quarter, indicating increased confidence in the company.
• Colgate-Palmolive recently announced a quarterly dividend of $0.52, which will be paid to investors on November 14th, representing a 2.5% yield based on an annualized rate.

E. Ohman J or Asset Management AB reduced its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 5.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 438,915 shares of the company's stock after selling 23,997 shares during the quarter. Colgate-Palmolive comprises 1.0% of E. Ohman J or Asset Management AB's investment portfolio, making the stock its 23rd biggest position. E. Ohman J or Asset Management AB owned about 0.05% of Colgate-Palmolive worth $39,897,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Westend Capital Management LLC lifted its stake in shares of Colgate-Palmolive by 111.1% during the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company's stock valued at $25,000 after buying an additional 140 shares in the last quarter. Cornerstone Planning Group LLC lifted its stake in shares of Colgate-Palmolive by 1,913.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock valued at $28,000 after buying an additional 287 shares in the last quarter. Saudi Central Bank purchased a new stake in shares of Colgate-Palmolive during the 1st quarter valued at approximately $29,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Colgate-Palmolive during the 4th quarter valued at approximately $31,000. Finally, Ransom Advisory Ltd purchased a new stake in shares of Colgate-Palmolive during the 1st quarter valued at approximately $33,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on CL. Barclays increased their target price on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. lowered their target price on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Wells Fargo & Company lowered their target price on shares of Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a research note on Monday, August 4th. UBS Group lowered their target price on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Finally, Citigroup lowered their target price on shares of Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a research note on Monday, August 4th. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $98.00.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $83.35 on Monday. The firm's fifty day moving average price is $85.95 and its 200-day moving average price is $89.54. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. The stock has a market cap of $67.37 billion, a P/E ratio of 23.41, a price-to-earnings-growth ratio of 4.33 and a beta of 0.35. Colgate-Palmolive Company has a fifty-two week low of $82.29 and a fifty-two week high of $106.26.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to analysts' expectations of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The business's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the company posted $0.91 EPS. On average, equities research analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive's dividend payout ratio (DPR) is presently 58.43%.

Colgate-Palmolive 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.

Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive Company (NYSE:CL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.