Avanza Fonder AB Acquires 4,660 Shares of Colgate-Palmolive Company $CL

Avanza Fonder AB raised its position in Colgate-Palmolive Company (NYSE:CL) by 6.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 76,582 shares of the company’s stock after buying an additional 4,660 shares during the quarter. Avanza Fonder AB’s holdings in Colgate-Palmolive were worth $6,961,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Sowell Financial Services LLC increased its holdings in Colgate-Palmolive by 2.5% in the 2nd quarter. Sowell Financial Services LLC now owns 5,478 shares of the company’s stock valued at $498,000 after buying an additional 134 shares during the period. Arthur M. Cohen & Associates LLC grew its holdings in shares of Colgate-Palmolive by 37.7% during the 2nd quarter. Arthur M. Cohen & Associates LLC now owns 3,650 shares of the company’s stock valued at $332,000 after purchasing an additional 1,000 shares during the last quarter. Abacus FCF Advisors LLC grew its holdings in shares of Colgate-Palmolive by 24.0% during the 2nd quarter. Abacus FCF Advisors LLC now owns 201,070 shares of the company’s stock valued at $18,277,000 after purchasing an additional 38,907 shares during the last quarter. Deane Retirement Strategies Inc. bought a new stake in shares of Colgate-Palmolive during the 2nd quarter valued at approximately $4,137,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of Colgate-Palmolive by 25.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 50,982 shares of the company’s stock valued at $4,634,000 after purchasing an additional 10,241 shares during the last quarter. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Price Performance

NYSE CL opened at $81.23 on Friday. The company has a market cap of $65.65 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 4.22 and a beta of 0.35. Colgate-Palmolive Company has a 52 week low of $81.01 and a 52 week high of $104.49. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. The firm’s 50-day simple moving average is $84.97 and its two-hundred day simple moving average is $89.20.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same period in the prior year, the firm posted $0.91 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. Research analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is 58.43%.

Wall Street Analysts Forecast Growth

CL has been the topic of several recent research reports. Barclays lifted their target price on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Morgan Stanley cut their target price on shares of Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating on the stock in a research report on Monday, August 4th. UBS Group cut their target price on shares of Colgate-Palmolive from $109.00 to $106.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. JPMorgan Chase & Co. cut their target price on shares of Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, August 4th. Finally, Citigroup dropped their price target on shares of Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus price target of $98.00.

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.