Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 107,800 Shares of Colgate-Palmolive Company (NYSE:CL)

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund sold 107,800 shares of Colgate-Palmolive Company, reducing its holdings by 32.2% in the first quarter, now owning 226,484 shares valued at approximately $21.2 million.
• Colgate-Palmolive recently announced a quarterly dividend of $0.52 per share, representing an annualized dividend of $2.08 and a dividend yield of 2.4%.
• Analyst ratings for Colgate-Palmolive vary, with the consensus rating being "Hold" and an average target price of $98.92, reflecting updated price targets from firms such as Morgan Stanley and Wells Fargo.

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 32.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 226,484 shares of the company's stock after selling 107,800 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Colgate-Palmolive were worth $21,222,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Westend Capital Management LLC grew its position in shares of Colgate-Palmolive by 111.1% in the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company's stock valued at $25,000 after purchasing an additional 140 shares during the period. Cornerstone Planning Group LLC grew its position in shares of Colgate-Palmolive by 1,913.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock valued at $28,000 after purchasing an additional 287 shares during the period. Vermillion Wealth Management Inc. acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at approximately $31,000. Accredited Wealth Management LLC acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at approximately $34,000. Finally, Bernard Wealth Management Corp. acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at approximately $36,000. 80.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Morgan Stanley reduced their price target on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Wells Fargo & Company reduced their price target on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a research report on Monday, August 4th. Wall Street Zen downgraded Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Barclays upped their price objective on Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Finally, UBS Group dropped their price objective on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $98.92.

Colgate-Palmolive Stock Up 1.6%

Shares of NYSE CL opened at $86.31 on Thursday. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. Colgate-Palmolive Company has a 52 week low of $82.40 and a 52 week high of $109.30. The stock has a market capitalization of $69.76 billion, a P/E ratio of 24.24, a PEG ratio of 4.42 and a beta of 0.35. The stock's fifty day moving average is $88.41 and its 200 day moving average is $90.07.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released 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. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period last year, the firm posted $0.91 earnings per share. Colgate-Palmolive's revenue was up 1.0% compared to the same quarter last year. Sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, July 18th. 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.

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.