Forsta AP Fonden Grows Holdings in Colgate-Palmolive Company $CL

Forsta AP Fonden lifted its stake in Colgate-Palmolive Company (NYSE:CL) by 25.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 311,700 shares of the company’s stock after acquiring an additional 64,100 shares during the quarter. Forsta AP Fonden’s holdings in Colgate-Palmolive were worth $28,334,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Colgate-Palmolive by 0.6% in the first quarter. Vanguard Group Inc. now owns 81,758,257 shares of the company’s stock valued at $7,660,749,000 after buying an additional 455,198 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Colgate-Palmolive by 18.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock valued at $3,186,651,000 after acquiring an additional 5,269,140 shares during the period. Goldman Sachs Group Inc. grew its position in Colgate-Palmolive by 34.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company’s stock valued at $747,762,000 after acquiring an additional 2,045,191 shares in the last quarter. Deutsche Bank AG increased its stake in Colgate-Palmolive by 3.7% during the first quarter. Deutsche Bank AG now owns 7,176,598 shares of the company’s stock worth $672,447,000 after purchasing an additional 253,604 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in shares of Colgate-Palmolive by 2.6% during the first quarter. Ameriprise Financial Inc. now owns 6,976,654 shares of the company’s stock worth $653,761,000 after purchasing an additional 177,833 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CL. JPMorgan Chase & Co. cut their target price on shares of Colgate-Palmolive from $88.00 to $87.00 and set an “overweight” rating on the stock in a research note on Monday, November 3rd. Bank of America dropped their price target on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Morgan Stanley reduced their price objective on Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating on the stock in a research note on Monday, November 3rd. Piper Sandler assumed coverage on Colgate-Palmolive in a research note on Friday, October 3rd. They set a “neutral” rating and a $84.00 target price for the company. Finally, Raymond James Financial reduced their price target on Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. Nine equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.87.

Colgate-Palmolive Trading Up 1.4%

NYSE:CL opened at $79.53 on Wednesday. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $100.18. The stock has a market cap of $64.11 billion, a P/E ratio of 22.34, a P/E/G ratio of 4.44 and a beta of 0.35. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. The stock has a 50-day simple moving average of $79.52 and a 200-day simple moving average of $85.44.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.17 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.91 earnings per share. As a group, analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.6%. Colgate-Palmolive’s payout ratio is 58.26%.

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.