Forsta AP Fonden Raises Stake in Colgate-Palmolive (NYSE:CL)

Forsta AP Fonden lifted its position in shares of Colgate-Palmolive (NYSE:CL) by 6.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 246,400 shares of the company’s stock after buying an additional 14,600 shares during the period. Forsta AP Fonden’s holdings in Colgate-Palmolive were worth $25,579,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CL. Allworth Financial LP grew its stake in shares of Colgate-Palmolive by 16.2% in the third quarter. Allworth Financial LP now owns 17,890 shares of the company’s stock valued at $1,857,000 after buying an additional 2,500 shares in the last quarter. Heritage Financial Services LLC purchased a new stake in Colgate-Palmolive during the 3rd quarter worth $212,000. Ballentine Partners LLC grew its stake in shares of Colgate-Palmolive by 100.9% during the third quarter. Ballentine Partners LLC now owns 20,547 shares of the company’s stock valued at $2,133,000 after acquiring an additional 10,318 shares in the last quarter. E. Ohman J or Asset Management AB lifted its stake in shares of Colgate-Palmolive by 144.3% in the third quarter. E. Ohman J or Asset Management AB now owns 32,000 shares of the company’s stock worth $3,322,000 after acquiring an additional 18,900 shares in the last quarter. Finally, Schmidt P J Investment Management Inc. purchased a new position in Colgate-Palmolive in the third quarter valued at about $208,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Colgate-Palmolive news, EVP Gregory Malcolm sold 10,533 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the completion of the transaction, the executive vice president now directly owns 10,377 shares in the company, valued at $1,069,868.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the transaction, the director now directly owns 11,755 shares in the company, valued at approximately $1,220,874.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gregory Malcolm sold 10,533 shares of Colgate-Palmolive stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total value of $1,085,952.30. Following the completion of the sale, the executive vice president now directly owns 10,377 shares of the company’s stock, valued at $1,069,868.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,490 shares of company stock worth $4,486,063 over the last quarter. Company insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Performance

CL stock traded down $4.13 during mid-day trading on Friday, reaching $95.61. 7,978,868 shares of the stock traded hands, compared to its average volume of 4,350,021. The business has a 50-day moving average of $103.28 and a two-hundred day moving average of $97.85. Colgate-Palmolive has a 52 week low of $71.46 and a 52 week high of $109.30. The firm has a market capitalization of $78.44 billion, a PE ratio of 30.24, a P/E/G ratio of 3.54 and a beta of 0.40. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 16.90.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, October 25th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The firm had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $5.01 billion. As a group, equities analysts predict that Colgate-Palmolive will post 3.57 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.09%. The ex-dividend date is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 63.29%.

Wall Street Analyst Weigh In

CL has been the topic of a number of research analyst reports. Jefferies Financial Group downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their price objective for the company from $103.00 to $95.00 in a research note on Wednesday, July 24th. Hsbc Global Res lowered Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Morgan Stanley lifted their price target on shares of Colgate-Palmolive from $103.00 to $111.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Evercore ISI increased their price objective on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Finally, UBS Group increased their price target on Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $106.00.

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.