KLP Kapitalforvaltning AS Decreases Stock Holdings in Colgate-Palmolive Company $CL

Key Points

• KLP Kapitalforvaltning AS has reduced its stake in Colgate-Palmolive by 2.0%, dropping to approximately 549,123 shares worth about $49.9 million as of the latest SEC filing.
• Analyst ratings have varied, with Barclays lowering its price target from $87.00 to $82.00, while JPMorgan and Morgan Stanley also reduced their target prices but maintained an "overweight" rating.
• Colgate-Palmolive recently announced a quarterly dividend of $0.52, set to be paid on November 14th, representing an annual yield of 2.7% with a payout ratio of 58.43%.

KLP Kapitalforvaltning AS lowered its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 2.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 549,123 shares of the company's stock after selling 11,300 shares during the period. KLP Kapitalforvaltning AS owned approximately 0.07% of Colgate-Palmolive worth $49,915,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Westend Capital Management LLC increased its holdings in 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 in the last quarter. Cornerstone Planning Group LLC boosted its position in shares of Colgate-Palmolive by 1,913.3% in the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock worth $28,000 after buying an additional 287 shares during the period. Saudi Central Bank acquired a new stake in shares of Colgate-Palmolive in the first quarter valued at about $29,000. Ransom Advisory Ltd purchased a new stake in shares of Colgate-Palmolive during the 1st quarter valued at about $33,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Colgate-Palmolive during the 1st quarter worth approximately $37,000. Institutional investors and hedge funds own 80.41% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Barclays lowered their price objective on shares of Colgate-Palmolive from $87.00 to $82.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 1st. Morgan Stanley dropped their price target on shares of Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Piper Sandler initiated coverage on shares of Colgate-Palmolive in a report on Friday. They issued a "neutral" rating and a $84.00 price objective on the stock. JPMorgan Chase & Co. lowered their target price on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Colgate-Palmolive in a research note on Saturday, September 27th. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $94.83.

Colgate-Palmolive Price Performance

CL opened at $77.39 on Tuesday. The company has a market capitalization of $62.55 billion, a P/E ratio of 21.74, a PEG ratio of 4.06 and a beta of 0.34. The company has a 50-day moving average of $83.11 and a 200-day moving average of $88.21. 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 1-year low of $77.32 and a 1-year high of $102.61.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.89 by $0.03. The business 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 company's quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 earnings per share. Equities analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be given a $0.52 dividend. The ex-dividend date is Friday, October 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.7%. Colgate-Palmolive's dividend payout ratio (DPR) is presently 58.43%.

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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