Andra AP fonden Invests $18.21 Million in Colgate-Palmolive Company $CL

Andra AP fonden acquired a new stake in Colgate-Palmolive Company (NYSE:CL) during the second quarter, HoldingsChannel reports. The firm acquired 198,668 shares of the company’s stock, valued at approximately $18,214,000.

Several other institutional investors have also recently added to or reduced their stakes in CL. State Street Corp raised its holdings in Colgate-Palmolive by 97.4% during the second quarter. State Street Corp now owns 94,195,992 shares of the company’s stock worth $8,635,889,000 after purchasing an additional 46,476,510 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Colgate-Palmolive by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company’s stock valued at $1,754,657,000 after buying an additional 304,426 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Colgate-Palmolive by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,532,417 shares of the company’s stock valued at $1,240,652,000 after buying an additional 1,010,872 shares during the last quarter. Norges Bank acquired a new stake in Colgate-Palmolive during the 4th quarter worth $861,670,000. Finally, Deutsche Bank AG lifted its position in Colgate-Palmolive by 33.9% in the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock valued at $857,040,000 after acquiring an additional 2,746,920 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 161,021 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the transaction, the chief executive officer directly owned 362,231 shares of the company’s stock, valued at $33,296,273.52. This trade represents a 30.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Cahill sold 4,170 shares of the company’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $93.37, for a total transaction of $389,352.90. Following the transaction, the director owned 28,373 shares of the company’s stock, valued at approximately $2,649,187.01. This trade represents a 12.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 175,191 shares of company stock worth $16,110,903. 0.43% of the stock is owned by company insiders.

Colgate-Palmolive Price Performance

Shares of NYSE:CL traded up $1.00 on Tuesday, reaching $87.26. The company’s stock had a trading volume of 1,211,591 shares, compared to its average volume of 5,727,583. The company has a 50-day simple moving average of $90.65 and a 200 day simple moving average of $89.13. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03. The company has a market cap of $69.56 billion, a P/E ratio of 34.64, a PEG ratio of 4.08 and a beta of 0.33. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The business had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.36 billion. During the same quarter in the previous year, the business posted $0.92 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Colgate-Palmolive Company will post 3.87 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 13th. Stockholders of record on Tuesday, October 20th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, October 20th. Colgate-Palmolive’s dividend payout ratio is 84.13%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Weiss Ratings raised Colgate-Palmolive from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, September 16th. Piper Sandler reduced their target price on Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating for the company in a report on Monday. Royal Bank Of Canada restated an “outperform” rating and set a $104.00 target price on shares of Colgate-Palmolive in a research report on Tuesday, September 8th. Sanford C. Bernstein reissued a “market perform” rating on shares of Colgate-Palmolive in a report on Thursday, August 13th. Finally, UBS Group increased their price target on Colgate-Palmolive from $106.00 to $109.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Thirteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $98.94.

About Colgate-Palmolive

Colgate-Palmolive Company (NYSE:CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its products are sold in more than 200 countries and territories through retail stores, e-commerce channels and professional networks.

The company’s portfolio includes Colgate toothpaste, toothbrushes and mouthwashes; Palmolive and Softsoap personal care products; Ajax and other household cleaning products; and Hill’s Science Diet and Prescription Diet pet foods.