Colgate-Palmolive (NYSE:CL) Shares Sold by Avanza Fonder AB

Avanza Fonder AB reduced its stake in shares of Colgate-Palmolive (NYSE:CL) by 17.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,922 shares of the company’s stock after selling 15,465 shares during the period. Avanza Fonder AB’s holdings in Colgate-Palmolive were worth $6,728,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of Colgate-Palmolive in the 4th quarter worth about $26,000. Centricity Wealth Management LLC bought a new position in shares of Colgate-Palmolive in the 4th quarter worth about $27,000. Vermillion Wealth Management Inc. bought a new position in shares of Colgate-Palmolive in the 4th quarter worth about $31,000. Union Bancaire Privee UBP SA bought a new position in shares of Colgate-Palmolive in the 4th quarter worth about $32,000. Finally, Briaud Financial Planning Inc bought a new position in shares of Colgate-Palmolive in the 4th quarter worth about $32,000. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Stock Up 0.8%

Colgate-Palmolive stock opened at $90.94 on Tuesday. The stock has a market cap of $73.70 billion, a price-to-earnings ratio of 25.83, a PEG ratio of 4.20 and a beta of 0.38. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. The company’s 50-day moving average price is $91.71 and its two-hundred day moving average price is $91.12. Colgate-Palmolive has a 52 week low of $85.32 and a 52 week high of $109.30.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, April 25th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.86 by $0.05. The firm had revenue of $4.91 billion for the quarter, compared to analysts’ expectations of $4.92 billion. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. Colgate-Palmolive’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the company earned $0.86 EPS. On average, analysts expect that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive announced that its board has approved a share repurchase program on Thursday, March 20th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 6.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 17th were issued a $0.52 dividend. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Thursday, April 17th. Colgate-Palmolive’s payout ratio is presently 58.76%.

Analyst Ratings Changes

CL has been the topic of a number of recent research reports. Wells Fargo & Company raised their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 2nd. Wall Street Zen downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th. Citigroup lifted their price objective on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the company a “buy” rating in a research report on Monday, April 28th. UBS Group lifted their price objective on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Finally, Piper Sandler cut their price objective on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $102.12.

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.