Handelsbanken Fonder AB Cuts Stock Holdings in Colgate-Palmolive Company $CL

Handelsbanken Fonder AB lessened its position in Colgate-Palmolive Company (NYSE:CL) by 8.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 321,686 shares of the company’s stock after selling 30,750 shares during the quarter. Handelsbanken Fonder AB’s holdings in Colgate-Palmolive were worth $25,716,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in shares of Colgate-Palmolive by 4.4% during the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock worth $962,000 after buying an additional 450 shares in the last quarter. Woodline Partners LP grew its stake in Colgate-Palmolive by 76.3% during the 1st quarter. Woodline Partners LP now owns 46,361 shares of the company’s stock valued at $4,344,000 after acquiring an additional 20,062 shares in the last quarter. Schnieders Capital Management LLC. grew its stake in Colgate-Palmolive by 2.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 12,494 shares of the company’s stock valued at $1,136,000 after acquiring an additional 245 shares in the last quarter. World Investment Advisors lifted its stake in Colgate-Palmolive by 11.6% in the 2nd quarter. World Investment Advisors now owns 13,137 shares of the company’s stock worth $1,194,000 after purchasing an additional 1,368 shares in the last quarter. Finally, Arkadios Wealth Advisors boosted its holdings in shares of Colgate-Palmolive by 6.6% during the 2nd quarter. Arkadios Wealth Advisors now owns 15,324 shares of the company’s stock worth $1,393,000 after purchasing an additional 946 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Up 1.5%

NYSE CL opened at $99.01 on Friday. The company has a debt-to-equity ratio of 18.82, a current ratio of 0.83 and a quick ratio of 0.27. The stock has a market capitalization of $79.81 billion, a P/E ratio of 37.79, a PEG ratio of 4.47 and a beta of 0.29. The firm’s 50-day moving average is $87.49 and its two-hundred day moving average is $82.72. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $100.18.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The business had revenue of $5.23 billion for the quarter, compared to the consensus estimate of $5.13 billion. During the same period in the previous year, the firm earned $0.91 EPS. The business’s revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Wednesday, January 21st were given a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, January 21st. This represents a $2.08 dividend on an annualized basis and a yield of 2.1%. Colgate-Palmolive’s payout ratio is presently 79.39%.

Insider Transactions at Colgate-Palmolive

In related news, insider John Hazlin sold 20,989 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $94.25, for a total transaction of $1,978,213.25. Following the transaction, the insider owned 17,645 shares of the company’s stock, valued at approximately $1,663,041.25. This represents a 54.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Panagiotis Tsourapas sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $94.61, for a total value of $3,311,350.00. Following the transaction, the chief operating officer owned 10,415 shares of the company’s stock, valued at $985,363.15. This trade represents a 77.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 184,683 shares of company stock valued at $17,486,693 over the last three months. 0.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Bank of America increased their price target on Colgate-Palmolive from $90.00 to $100.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Argus restated a “hold” rating on shares of Colgate-Palmolive in a report on Thursday, December 11th. Barclays lifted their price target on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. Royal Bank Of Canada raised shares of Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 price objective for the company in a report on Tuesday, December 9th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $100.00 target price on shares of Colgate-Palmolive in a research note on Friday, February 20th. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $94.75.

Colgate-Palmolive Company 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.