Colgate-Palmolive (NYSE:CL) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its stake in shares of Colgate-Palmolive (NYSE:CL) by 10.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 332,972 shares of the company’s stock after purchasing an additional 32,624 shares during the period. Handelsbanken Fonder AB’s holdings in Colgate-Palmolive were worth $34,566,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Quent Capital LLC raised its stake in Colgate-Palmolive by 17.3% in the 3rd quarter. Quent Capital LLC now owns 4,213 shares of the company’s stock valued at $437,000 after purchasing an additional 621 shares during the last quarter. Great Waters Wealth Management raised its position in shares of Colgate-Palmolive by 1.5% in the third quarter. Great Waters Wealth Management now owns 7,669 shares of the company’s stock valued at $796,000 after buying an additional 117 shares during the last quarter. Seneca House Advisors purchased a new position in shares of Colgate-Palmolive in the third quarter worth about $209,000. Park Avenue Securities LLC boosted its position in Colgate-Palmolive by 38.3% during the third quarter. Park Avenue Securities LLC now owns 10,705 shares of the company’s stock worth $1,111,000 after acquiring an additional 2,966 shares during the last quarter. Finally, Canandaigua National Bank & Trust Co. grew its stake in Colgate-Palmolive by 1.8% during the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 12,122 shares of the company’s stock valued at $1,258,000 after acquiring an additional 211 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Insider Buying and Selling

In other news, EVP Gregory Malcolm sold 10,533 shares of the firm’s 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 sale, the executive vice president now directly owns 10,377 shares in the company, valued at approximately $1,069,868.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of the firm’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 sale, the director now owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gregory Malcolm sold 10,533 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were 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 owns 10,377 shares of the company’s stock, valued at approximately $1,069,868.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,490 shares of company stock worth $4,486,063 over the last 90 days. 0.34% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on CL. Citigroup boosted their target price on Colgate-Palmolive from $103.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Evercore ISI boosted their price objective on Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Hsbc Global Res downgraded Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Piper Sandler initiated coverage on shares of Colgate-Palmolive in a research report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price target on the stock. Finally, Wells Fargo & Company cut shares of Colgate-Palmolive from an “equal weight” rating to an “underweight” rating and set a $100.00 price objective for the company. in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus price target of $104.74.

Colgate-Palmolive Stock Down 0.9 %

CL stock traded down $0.93 during midday trading on Friday, hitting $99.04. The company’s stock had a trading volume of 6,030,553 shares, compared to its average volume of 4,348,780. The firm has a 50-day simple moving average of $103.65 and a 200-day simple moving average of $96.81. The firm has a market capitalization of $81.26 billion, a P/E ratio of 31.34, a PEG ratio of 3.62 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 has a 52-week low of $67.62 and a 52-week high of $109.30.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, July 26th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. The firm had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5 billion. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. Colgate-Palmolive’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.77 EPS. As a group, equities analysts forecast that Colgate-Palmolive will post 3.57 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.00 annualized dividend and a yield of 2.02%. Colgate-Palmolive’s dividend payout ratio (DPR) is 63.29%.

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.