Skandinaviska Enskilda Banken AB publ Cuts Stake in Colgate-Palmolive Company (NYSE:CL)

Key Points

• Skandinaviska Enskilda Banken AB reduced its stake in Colgate-Palmolive by 13.8% in Q1, owning 1,783,236 shares after selling 284,674 shares.
• Colgate-Palmolive reported $0.91 EPS for the latest quarter, surpassing analyst estimates of $0.86, despite a 3% year-over-year decline in revenue.
• The company's quarterly dividend of $0.52 will be paid on August 15th, yielding 2.35% annually.

Skandinaviska Enskilda Banken AB publ decreased its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 13.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,783,236 shares of the company's stock after selling 284,674 shares during the period. Colgate-Palmolive accounts for about 0.8% of Skandinaviska Enskilda Banken AB publ's investment portfolio, making the stock its 23rd largest position. Skandinaviska Enskilda Banken AB publ owned about 0.22% of Colgate-Palmolive worth $167,089,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in Colgate-Palmolive by 4.4% in the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company's stock worth $962,000 after purchasing an additional 450 shares during the period. Bernard Wealth Management Corp. bought a new stake in Colgate-Palmolive in the 4th quarter valued at $36,000. Proficio Capital Partners LLC purchased a new stake in Colgate-Palmolive in the 4th quarter worth $186,000. Financial Counselors Inc. grew its position in shares of Colgate-Palmolive by 91.5% during the fourth quarter. Financial Counselors Inc. now owns 32,639 shares of the company's stock valued at $2,967,000 after purchasing an additional 15,598 shares in the last quarter. Finally, Financial Engines Advisors L.L.C. bought a new stake in shares of Colgate-Palmolive in the fourth quarter worth about $399,000. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Trading Down 0.6%

Shares of CL traded down $0.52 during mid-day trading on Friday, reaching $87.93. 3,186,104 shares of the company's stock traded hands, compared to its average volume of 4,561,019. The company has a debt-to-equity ratio of 8.96, a current ratio of 0.85 and a quick ratio of 0.54. The stock's 50-day moving average is $90.24 and its two-hundred day moving average is $90.37. Colgate-Palmolive Company has a 12 month low of $85.32 and a 12 month high of $109.30. The stock has a market cap of $71.26 billion, a P/E ratio of 24.84, a P/E/G ratio of 4.53 and a beta of 0.37.

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

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive's dividend payout ratio is presently 58.76%.

Analyst Ratings Changes

CL has been the subject of a number of research reports. Piper Sandler dropped their price target on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. UBS Group decreased their price objective on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. JPMorgan Chase & Co. cut their target price on shares of Colgate-Palmolive from $103.00 to $99.00 and set an "overweight" rating for the company in a report on Friday. Wells Fargo & Company boosted their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 2nd. Finally, Barclays increased their price objective on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $100.77.

About Colgate-Palmolive

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.