SEB Asset Management AB Invests $91.15 Million in Colgate-Palmolive Company $CL

SEB Asset Management AB acquired a new stake in Colgate-Palmolive Company (NYSE:CL) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,069,453 shares of the company’s stock, valued at approximately $91,149,000.

A number of other institutional investors also recently modified their holdings of the stock. Swiss National Bank boosted its stake in Colgate-Palmolive by 6.8% during the first quarter. Swiss National Bank now owns 2,247,400 shares of the company’s stock worth $191,546,000 after acquiring an additional 143,400 shares in the last quarter. World Equity Group Inc. acquired a new stake in Colgate-Palmolive in the first quarter worth $444,000. AIA Group Ltd increased its stake in Colgate-Palmolive by 33.4% in the first quarter. AIA Group Ltd now owns 26,275 shares of the company’s stock valued at $2,239,000 after purchasing an additional 6,576 shares in the last quarter. Mediolanum International Funds Ltd increased its stake in Colgate-Palmolive by 21.4% in the first quarter. Mediolanum International Funds Ltd now owns 441,064 shares of the company’s stock valued at $37,812,000 after purchasing an additional 77,822 shares in the last quarter. Finally, Arjuna Capital acquired a new position in shares of Colgate-Palmolive during the first quarter valued at about $1,184,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Wall Street Zen cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. JPMorgan Chase & Co. upped their price target on Colgate-Palmolive from $96.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday. TD Cowen reiterated a “hold” rating and issued a $85.00 price target on shares of Colgate-Palmolive in a report on Tuesday, March 31st. Wells Fargo & Company raised their price objective on Colgate-Palmolive from $92.00 to $95.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $99.00 price objective on shares of Colgate-Palmolive in a report on Monday, May 4th. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.41.

Colgate-Palmolive Stock Down 1.3%

Shares of NYSE CL opened at $92.84 on Friday. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67. The company has a 50-day moving average price of $90.46 and a 200-day moving average price of $88.54. The stock has a market capitalization of $74.29 billion, a P/E ratio of 36.12, a P/E/G ratio of 4.90 and a beta of 0.33. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the prior year, the business posted $0.91 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts forecast that Colgate-Palmolive Company will post 3.81 EPS for the current fiscal 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 2.3%. Colgate-Palmolive’s dividend payout ratio is 82.49%.

Colgate-Palmolive Profile

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.