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

AMF Tjanstepension AB trimmed its position in shares of Colgate-Palmolive Company (NYSE:CL) by 14.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,348,176 shares of the company’s stock after selling 397,419 shares during the period. Colgate-Palmolive accounts for approximately 1.4% of AMF Tjanstepension AB’s portfolio, making the stock its 20th largest holding. AMF Tjanstepension AB’s holdings in Colgate-Palmolive were worth $213,559,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Westend Capital Management LLC grew its holdings in Colgate-Palmolive by 111.1% during the first quarter. Westend Capital Management LLC now owns 266 shares of the company’s stock valued at $25,000 after purchasing an additional 140 shares during the period. Cornerstone Planning Group LLC grew its holdings in Colgate-Palmolive by 1,913.3% during the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock valued at $28,000 after purchasing an additional 287 shares during the period. Saudi Central Bank bought a new position in Colgate-Palmolive during the first quarter valued at $29,000. Ransom Advisory Ltd bought a new position in Colgate-Palmolive during the first quarter valued at $33,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in Colgate-Palmolive during the first quarter valued at $37,000. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Price Performance

NYSE:CL opened at $78.01 on Friday. The firm has a market capitalization of $63.05 billion, a price-to-earnings ratio of 21.91, a P/E/G ratio of 4.07 and a beta of 0.34. Colgate-Palmolive Company has a 52-week low of $77.91 and a 52-week high of $102.61. The stock has a fifty day moving average of $83.29 and a 200 day moving average of $88.33. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89.

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

Colgate-Palmolive Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on CL. JPMorgan Chase & Co. cut their price target on Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, August 4th. The Goldman Sachs Group cut their price target on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a report on Thursday. Citigroup cut their price target on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating for the company in a report on Monday, August 4th. Wells Fargo & Company cut their price target on Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating for the company in a report on Thursday, September 25th. Finally, Piper Sandler began coverage on Colgate-Palmolive in a report on Friday. They issued a “neutral” rating and a $84.00 price target for the company. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus 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.