Avanza Fonder AB Acquires 7,316 Shares of Colgate-Palmolive Company $CL

Avanza Fonder AB raised its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 9.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,898 shares of the company’s stock after buying an additional 7,316 shares during the quarter. Avanza Fonder AB’s holdings in Colgate-Palmolive were worth $6,707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. CWM LLC grew its stake in Colgate-Palmolive by 14.4% during the third quarter. CWM LLC now owns 37,680 shares of the company’s stock valued at $3,012,000 after acquiring an additional 4,735 shares in the last quarter. Busey Bank boosted its holdings in shares of Colgate-Palmolive by 0.9% during the 3rd quarter. Busey Bank now owns 172,027 shares of the company’s stock valued at $13,752,000 after purchasing an additional 1,615 shares during the last quarter. Canoe Financial LP grew its position in shares of Colgate-Palmolive by 23.3% during the third quarter. Canoe Financial LP now owns 99,646 shares of the company’s stock valued at $7,966,000 after purchasing an additional 18,800 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Colgate-Palmolive by 3,052.2% during the third quarter. Pacer Advisors Inc. now owns 2,697,047 shares of the company’s stock valued at $215,602,000 after purchasing an additional 2,611,485 shares in the last quarter. Finally, Secured Retirement Advisors LLC increased its holdings in shares of Colgate-Palmolive by 62.8% in the third quarter. Secured Retirement Advisors LLC now owns 34,709 shares of the company’s stock worth $2,775,000 after purchasing an additional 13,391 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on CL shares. The Goldman Sachs Group dropped their price target on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a research note on Thursday, October 2nd. Royal Bank Of Canada upgraded Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 target price for the company in a research report on Tuesday, December 9th. Evercore ISI cut their target price on shares of Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Deutsche Bank Aktiengesellschaft set a $86.00 price target on shares of Colgate-Palmolive in a research note on Friday, October 10th. Finally, Jefferies Financial Group set a $85.00 price objective on shares of Colgate-Palmolive in a research report on Tuesday, December 16th. Ten analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Colgate-Palmolive has a consensus rating of “Moderate Buy” and an average target price of $88.81.

Colgate-Palmolive Stock Up 0.7%

Shares of CL opened at $80.50 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.93 and a debt-to-equity ratio of 5.90. The business has a fifty day moving average of $78.49 and a 200 day moving average of $82.84. The company has a market cap of $64.89 billion, a PE ratio of 22.55, a P/E/G ratio of 5.72 and a beta of 0.30. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $100.18.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. The business had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.17 billion. Colgate-Palmolive had a net margin of 14.47% and a return on equity of 333.39%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 earnings per share. On average, sell-side analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Wednesday, January 21st will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Wednesday, January 21st. Colgate-Palmolive’s dividend payout ratio is presently 58.26%.

Colgate-Palmolive 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.