Handelsbanken Fonder AB Decreases Stock Holdings in Colgate-Palmolive (NYSE:CL)

Handelsbanken Fonder AB lowered its holdings in Colgate-Palmolive (NYSE:CL) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 322,322 shares of the company’s stock after selling 10,650 shares during the period. Handelsbanken Fonder AB’s holdings in Colgate-Palmolive were worth $29,302,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Ieq Capital LLC boosted its stake in Colgate-Palmolive by 25.2% in the fourth quarter. Ieq Capital LLC now owns 58,008 shares of the company’s stock valued at $5,274,000 after acquiring an additional 11,666 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of Colgate-Palmolive by 12.0% in the 4th quarter. Private Advisor Group LLC now owns 77,231 shares of the company’s stock worth $7,021,000 after purchasing an additional 8,279 shares during the period. Atlas Legacy Advisors LLC purchased a new position in Colgate-Palmolive in the fourth quarter valued at approximately $311,000. Bank of Jackson Hole Trust bought a new position in Colgate-Palmolive during the fourth quarter valued at $89,000. Finally, Mcdonald Partners LLC increased its position in Colgate-Palmolive by 1.8% in the fourth quarter. Mcdonald Partners LLC now owns 9,996 shares of the company’s stock worth $909,000 after buying an additional 172 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

CL has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their price target on Colgate-Palmolive from $103.00 to $97.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. StockNews.com downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Morgan Stanley reduced their target price on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $101.00 price target on shares of Colgate-Palmolive in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company reduced their price objective on shares of Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $101.16.

Colgate-Palmolive Trading Up 0.4 %

Shares of CL opened at $87.80 on Friday. Colgate-Palmolive has a 1-year low of $84.45 and a 1-year high of $109.30. The company has a market capitalization of $71.25 billion, a P/E ratio of 24.94, a P/E/G ratio of 4.12 and a beta of 0.44. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58. The firm’s 50 day simple moving average is $89.02 and its 200 day simple moving average is $95.99.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.01. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. During the same quarter in the prior year, the company posted $0.87 earnings per share. Sell-side analysts forecast that Colgate-Palmolive will post 3.76 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, January 21st. This represents a $2.00 annualized dividend and a dividend yield of 2.28%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 56.82%.

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.