KLP Kapitalforvaltning AS Grows Holdings in Colgate-Palmolive Company (NYSE:CL)

KLP Kapitalforvaltning AS raised its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 5.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 560,423 shares of the company's stock after purchasing an additional 27,500 shares during the period. KLP Kapitalforvaltning AS owned approximately 0.07% of Colgate-Palmolive worth $52,512,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Colgate-Palmolive by 8.4% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 7,176 shares of the company's stock valued at $672,000 after acquiring an additional 556 shares in the last quarter. Crestwood Advisors Group LLC raised its holdings in shares of Colgate-Palmolive by 3.6% in the 1st quarter. Crestwood Advisors Group LLC now owns 35,623 shares of the company's stock worth $3,338,000 after buying an additional 1,253 shares in the last quarter. Gallacher Capital Management LLC lifted its position in shares of Colgate-Palmolive by 13.9% during the 1st quarter. Gallacher Capital Management LLC now owns 10,837 shares of the company's stock worth $1,015,000 after buying an additional 1,326 shares during the period. Wealth Alliance LLC boosted its stake in Colgate-Palmolive by 5.5% in the 1st quarter. Wealth Alliance LLC now owns 4,147 shares of the company's stock valued at $389,000 after buying an additional 216 shares in the last quarter. Finally, Sargent Investment Group LLC grew its position in Colgate-Palmolive by 42.2% in the first quarter. Sargent Investment Group LLC now owns 3,417 shares of the company's stock valued at $320,000 after acquiring an additional 1,014 shares during the period. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CL shares. Barclays upped their target price on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Piper Sandler dropped their price objective on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a report on Monday, March 31st. Wall Street Zen cut shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Citigroup upped their price target on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a report on Monday, April 28th. Finally, UBS Group dropped their price target 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, nine have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Colgate-Palmolive has a consensus rating of "Hold" and an average target price of $101.08.

Colgate-Palmolive Price Performance

NYSE CL traded down $0.71 on Friday, hitting $87.74. 1,274,869 shares of the company's stock were exchanged, compared to its average volume of 5,223,885. Colgate-Palmolive Company has a 52 week low of $85.32 and a 52 week high of $109.30. The stock has a 50-day moving average of $90.31 and a 200-day moving average of $90.34. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 8.96. The stock has a market cap of $71.11 billion, a price-to-earnings ratio of 24.80, a P/E/G ratio of 4.58 and a beta of 0.37.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.05. The company had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.92 billion. Colgate-Palmolive had a net margin of 14.52% and a return on equity of 461.04%. The firm's quarterly revenue was down 3.0% compared to the same quarter last year. During the same period last year, the company posted $0.86 EPS. Analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive's payout ratio is 58.76%.

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.