Handelsbanken Fonder AB Increases Stock Position in Colgate-Palmolive Company $CL

Handelsbanken Fonder AB grew its holdings in Colgate-Palmolive Company (NYSE:CL) by 6.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 332,176 shares of the company’s stock after purchasing an additional 18,816 shares during the quarter. Handelsbanken Fonder AB’s holdings in Colgate-Palmolive were worth $30,454,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Kemnay Advisory Services Inc. purchased a new stake in Colgate-Palmolive in the 4th quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC increased its position in Colgate-Palmolive by 86.7% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock worth $26,000 after buying an additional 150 shares in the last quarter. TD Capital Management LLC raised its holdings in shares of Colgate-Palmolive by 61.4% in the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after acquiring an additional 124 shares during the last quarter. Triumph Capital Management raised its holdings in shares of Colgate-Palmolive by 62.9% in the fourth quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after acquiring an additional 127 shares during the last quarter. Finally, Jessup Wealth Management Inc purchased a new stake in shares of Colgate-Palmolive in the fourth quarter valued at $26,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CL. Wells Fargo & Company lifted their price objective on Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 8th. Morgan Stanley restated an “overweight” rating and issued a $104.00 target price on shares of Colgate-Palmolive in a report on Monday, August 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Colgate-Palmolive in a report on Friday, July 31st. Rothschild & Co Redburn set a $100.00 price objective on shares of Colgate-Palmolive and gave the company a “buy” rating in a research note on Tuesday, April 21st. Finally, Barclays raised their target price on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 21st. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $92.39 on Wednesday. The company has a market cap of $73.65 billion, a price-to-earnings ratio of 36.66, a price-to-earnings-growth ratio of 4.55 and a beta of 0.33. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.67. The stock’s 50-day moving average is $91.30 and its 200-day moving average is $89.88.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The firm had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter in the prior year, the company earned $0.92 EPS. The company’s revenue was up 4.9% on a year-over-year basis. Equities analysts anticipate that Colgate-Palmolive Company will post 3.86 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, July 20th will be given 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 presently 84.13%.

Insiders Place Their Bets

In related news, CEO Noel R. Wallace sold 161,021 shares of Colgate-Palmolive stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the transaction, the chief executive officer owned 362,231 shares in the company, valued at approximately $33,296,273.52. The trade was a 30.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Cahill sold 4,170 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total transaction of $389,352.90. Following the sale, the director directly owned 28,373 shares of the company’s stock, valued at approximately $2,649,187.01. This trade represents a 12.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.43% of the company’s stock.

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.