Swedbank AB Sells 217,139 Shares of Colgate-Palmolive Company $CL

Key Points

• Swedbank AB reduced its Colgate-Palmolive stake by 5.2% in the first quarter, selling 217,139 shares and leaving it with 3,963,276 shares valued at about $337.8 million.
• Colgate-Palmolive reported stronger-than-expected quarterly results, with EPS of $0.97 and revenue of $5.32 billion, both ahead of analyst estimates. Revenue rose 8.4% year over year.
• The company continues to draw generally positive analyst coverage, with a consensus rating of “Moderate Buy” and an average price target of $95.88. Colgate also announced a quarterly dividend of $0.53 per share, yielding about 2.2% annually.

Swedbank AB lowered its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 5.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,963,276 shares of the company's stock after selling 217,139 shares during the quarter. Swedbank AB owned 0.49% of Colgate-Palmolive worth $337,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CL. HighPoint Advisor Group LLC raised its position in Colgate-Palmolive by 0.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 15,877 shares of the company's stock worth $1,255,000 after buying an additional 109 shares during the last quarter. Clear Harbor Asset Management LLC boosted its holdings in shares of Colgate-Palmolive by 2.6% during the 4th quarter. Clear Harbor Asset Management LLC now owns 4,503 shares of the company's stock valued at $356,000 after acquiring an additional 113 shares during the last quarter. Moneta Group Investment Advisors LLC grew its stake in shares of Colgate-Palmolive by 0.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,506 shares of the company's stock worth $1,225,000 after acquiring an additional 114 shares during the period. Sunpointe LLC grew its stake in shares of Colgate-Palmolive by 4.0% in the fourth quarter. Sunpointe LLC now owns 3,056 shares of the company's stock worth $241,000 after acquiring an additional 117 shares during the period. Finally, TD Capital Management LLC raised its holdings in shares of Colgate-Palmolive by 61.4% during the fourth quarter. TD Capital Management LLC now owns 326 shares of the company's stock valued at $26,000 after purchasing an additional 124 shares during the last quarter. 80.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CL. Royal Bank Of Canada restated an "outperform" rating and issued a $102.00 target price on shares of Colgate-Palmolive in a report on Monday, May 4th. Wall Street Zen cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Sunday, March 29th. Wells Fargo & Company dropped their price target on Colgate-Palmolive from $100.00 to $92.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 8th. Sanford C. Bernstein initiated coverage on Colgate-Palmolive in a report on Thursday, June 11th. They issued a "market perform" rating and a $96.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $99.00 price objective on shares of Colgate-Palmolive in a research report on Monday, May 4th. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, Colgate-Palmolive presently has an average rating of "Moderate Buy" and a consensus price target of $95.88.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock traded up $1.92 on Tuesday, hitting $95.31. 1,255,789 shares of the company's stock were exchanged, compared to its average volume of 6,190,556. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33. The company has a 50-day simple moving average of $89.07 and a 200-day simple moving average of $87.67. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. The stock has a market capitalization of $76.26 billion, a PE ratio of 37.02, a PEG ratio of 5.02 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its earnings results on Friday, May 1st. The company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.94 by $0.03. The company had revenue of $5.32 billion for the quarter, compared to analysts' expectations of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.Colgate-Palmolive's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm earned $0.91 EPS. As a group, equities analysts anticipate that Colgate-Palmolive Company will post 3.81 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, July 20th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.2%. Colgate-Palmolive's dividend payout ratio (DPR) is 82.49%.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company's core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.

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