AMF Tjanstepension AB Sells 397,419 Shares of Colgate-Palmolive Company $CL

AMF Tjanstepension AB lowered its position in Colgate-Palmolive Company (NYSE:CL) by 14.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,348,176 shares of the company’s stock after selling 397,419 shares during the period. Colgate-Palmolive accounts for about 1.4% of AMF Tjanstepension AB’s holdings, making the stock its 20th biggest position. AMF Tjanstepension AB owned approximately 0.29% of Colgate-Palmolive worth $213,559,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CL. Price T Rowe Associates Inc. MD boosted its holdings in Colgate-Palmolive by 18.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock worth $3,186,651,000 after acquiring an additional 5,269,140 shares in the last quarter. Nuveen LLC bought a new position in Colgate-Palmolive in the first quarter worth approximately $217,593,000. Goldman Sachs Group Inc. boosted its holdings in Colgate-Palmolive by 34.5% in the first quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company’s stock worth $747,762,000 after acquiring an additional 2,045,191 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in Colgate-Palmolive by 45.0% in the first quarter. Diamond Hill Capital Management Inc. now owns 5,562,968 shares of the company’s stock worth $521,250,000 after acquiring an additional 1,727,105 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Colgate-Palmolive by 60.5% in the first quarter. Alliancebernstein L.P. now owns 2,336,783 shares of the company’s stock worth $218,957,000 after purchasing an additional 880,527 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of CL opened at $78.01 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. The company has a market capitalization of $63.05 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 4.07 and a beta of 0.34. The stock has a 50 day moving average of $83.29 and a 200 day moving average of $88.33. Colgate-Palmolive Company has a 12 month low of $77.91 and a 12 month high of $102.61.

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

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 58.43%.

Analysts Set New Price Targets

Several brokerages have recently commented on CL. Morgan Stanley lowered their price objective on Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating for the company in a research note on Monday, August 4th. JPMorgan Chase & Co. lowered their price objective on Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, August 4th. Wells Fargo & Company lowered their price objective on Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating for the company in a research note on Thursday, September 25th. UBS Group lowered their price objective on Colgate-Palmolive from $109.00 to $106.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Finally, Piper Sandler began coverage on Colgate-Palmolive in a research note on Friday. They issued a “neutral” rating and a $84.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $94.83.

Colgate-Palmolive Company 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.