Swedbank AB Has $308 Million Stake in Colgate-Palmolive Company $CL

Key Points

• Swedbank AB has increased its holdings in Colgate-Palmolive Company by 15.0%, acquiring an additional 428,823 shares to reach a total of approximately 3.29 million shares, worth around $308 million.
• Research analysts have mixed opinions on the stock, with Barclays raising its price target to $87, while Wells Fargo has reduced its target to $83, indicating a range of outlooks among analysts.
• Colgate-Palmolive recently announced a quarterly dividend of $0.52 per share, providing a yield of 2.5%, with the dividend payout due on November 14th.

Swedbank AB raised its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 15.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,287,088 shares of the company's stock after buying an additional 428,823 shares during the quarter. Swedbank AB owned 0.41% of Colgate-Palmolive worth $308,000,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Voya Investment Management LLC boosted its position in shares of Colgate-Palmolive by 3.1% during the first quarter. Voya Investment Management LLC now owns 502,676 shares of the company's stock worth $47,101,000 after purchasing an additional 15,219 shares in the last quarter. Maple Capital Management Inc. lifted its holdings in Colgate-Palmolive by 11.9% during the first quarter. Maple Capital Management Inc. now owns 141,870 shares of the company's stock worth $13,293,000 after acquiring an additional 15,138 shares in the last quarter. eCIO Inc. acquired a new position in Colgate-Palmolive in the first quarter valued at about $113,000. Modern Wealth Management LLC increased its holdings in shares of Colgate-Palmolive by 267.5% in the first quarter. Modern Wealth Management LLC now owns 8,206 shares of the company's stock worth $769,000 after acquiring an additional 5,973 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of Colgate-Palmolive during the first quarter worth about $23,923,000. Institutional investors and hedge funds own 80.41% of the company's stock.

Analysts Set New Price Targets

CL has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. UBS Group reduced their target price on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Citigroup decreased their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a report on Monday, August 4th. Wells Fargo & Company lowered their target price on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a research report on Monday, August 4th. Finally, 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. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $98.00.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock traded down $0.71 during mid-day trading on Friday, hitting $83.35. 3,169,120 shares of the company's stock traded hands, compared to its average volume of 4,435,723. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. The firm has a 50 day simple moving average of $85.95 and a two-hundred day simple moving average of $89.54. Colgate-Palmolive Company has a fifty-two week low of $82.29 and a fifty-two week high of $106.26. The stock has a market cap of $67.37 billion, a price-to-earnings ratio of 23.41, a P/E/G ratio of 4.33 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings results 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 revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 EPS. On average, research analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive's dividend payout ratio is currently 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.