Forsta AP Fonden Sells 41,000 Shares of Colgate-Palmolive (NYSE:CL)

Forsta AP Fonden trimmed its holdings in shares of Colgate-Palmolive (NYSE:CLGet Rating) by 14.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 240,500 shares of the company’s stock after selling 41,000 shares during the quarter. Forsta AP Fonden’s holdings in Colgate-Palmolive were worth $18,237,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Concord Wealth Partners increased its stake in shares of Colgate-Palmolive by 5.9% during the first quarter. Concord Wealth Partners now owns 2,710 shares of the company’s stock valued at $205,000 after buying an additional 151 shares during the period. Austin Asset Management Co Inc increased its stake in shares of Colgate-Palmolive by 21.5% during the first quarter. Austin Asset Management Co Inc now owns 2,916 shares of the company’s stock valued at $221,000 after buying an additional 516 shares during the period. Versor Investments LP purchased a new position in shares of Colgate-Palmolive during the first quarter valued at $977,000. US Asset Management LLC purchased a new position in shares of Colgate-Palmolive during the first quarter valued at $39,000. Finally, Trillium Asset Management LLC increased its stake in shares of Colgate-Palmolive by 27.1% during the first quarter. Trillium Asset Management LLC now owns 5,862 shares of the company’s stock valued at $445,000 after buying an additional 1,250 shares during the period. 78.12% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider John W. Kooyman sold 19,683 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $78.49, for a total transaction of $1,544,918.67. Following the completion of the sale, the insider now directly owns 7,007 shares in the company, valued at $549,979.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Colgate-Palmolive news, VP Philip G. Shotts sold 10,000 shares of the company’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $78.52, for a total value of $785,200.00. Following the completion of the sale, the vice president now directly owns 46,094 shares in the company, valued at approximately $3,619,300.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John W. Kooyman sold 19,683 shares of the company’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $78.49, for a total value of $1,544,918.67. Following the completion of the sale, the insider now owns 7,007 shares of the company’s stock, valued at $549,979.43. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,683 shares of company stock worth $6,297,119. 0.32% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CL has been the topic of several research reports. Deutsche Bank Aktiengesellschaft cut their price target on Colgate-Palmolive from $88.00 to $87.00 in a research note on Tuesday, July 19th. TheStreet upgraded Colgate-Palmolive from a “c+” rating to a “b” rating in a research note on Friday, April 29th. UBS Group lifted their target price on Colgate-Palmolive from $88.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, August 1st. Atlantic Securities lowered Colgate-Palmolive from an “overweight” rating to a “neutral” rating and cut their target price for the company from $92.00 to $80.00 in a research note on Tuesday, May 3rd. Finally, StockNews.com upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Tuesday. Twelve investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Hold” and a consensus price target of $84.57.

Colgate-Palmolive Stock Down 0.6 %

Colgate-Palmolive stock opened at $80.43 on Friday. The stock has a market capitalization of $67.09 billion, a PE ratio of 34.82, a price-to-earnings-growth ratio of 5.79 and a beta of 0.48. Colgate-Palmolive has a 12 month low of $72.20 and a 12 month high of $85.61. The business has a 50 day simple moving average of $78.37 and a 200-day simple moving average of $78.33. The company has a debt-to-equity ratio of 14.26, a current ratio of 1.17 and a quick ratio of 0.72.

Colgate-Palmolive (NYSE:CLGet Rating) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.71 by $0.01. Colgate-Palmolive had a return on equity of 315.10% and a net margin of 10.98%. The firm had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.35 billion. During the same period in the previous year, the business earned $0.80 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, analysts anticipate that Colgate-Palmolive will post 3.03 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Thursday, July 21st will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Wednesday, July 20th. Colgate-Palmolive’s payout ratio is 81.39%.

Colgate-Palmolive Company Profile

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Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company 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.

See Also

Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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