E. Ohman J or Asset Management AB Boosts Position in Colgate-Palmolive Company $CL

E. Ohman J or Asset Management AB raised its stake in Colgate-Palmolive Company (NYSE:CL) by 7.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 471,729 shares of the company’s stock after buying an additional 32,814 shares during the period. Colgate-Palmolive comprises 0.9% of E. Ohman J or Asset Management AB’s holdings, making the stock its 26th biggest holding. E. Ohman J or Asset Management AB owned about 0.06% of Colgate-Palmolive worth $37,710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of CL. Brighton Jones LLC increased its holdings in Colgate-Palmolive by 4.4% during the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock worth $962,000 after purchasing an additional 450 shares during the period. CreativeOne Wealth LLC grew its position in shares of Colgate-Palmolive by 21.3% during the 1st quarter. CreativeOne Wealth LLC now owns 14,620 shares of the company’s stock worth $1,370,000 after buying an additional 2,568 shares in the last quarter. WPG Advisers LLC purchased a new position in shares of Colgate-Palmolive during the first quarter valued at $140,000. The Manufacturers Life Insurance Company raised its holdings in shares of Colgate-Palmolive by 42.5% in the first quarter. The Manufacturers Life Insurance Company now owns 1,274,333 shares of the company’s stock valued at $119,405,000 after acquiring an additional 380,340 shares in the last quarter. Finally, Evergreen Capital Management LLC lifted its stake in Colgate-Palmolive by 76.3% in the first quarter. Evergreen Capital Management LLC now owns 4,398 shares of the company’s stock worth $412,000 after acquiring an additional 1,903 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $79.73 on Friday. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $100.18. The business’s fifty day simple moving average is $78.50 and its 200-day simple moving average is $82.69. The company has a current ratio of 0.93, a quick ratio of 0.60 and a debt-to-equity ratio of 5.90. The company has a market cap of $64.26 billion, a PE ratio of 22.33, a PEG ratio of 5.68 and a beta of 0.30.

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, topping analysts’ consensus estimates of $0.89 by $0.02. Colgate-Palmolive had a return on equity of 333.39% and a net margin of 14.47%.The firm had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.17 billion. During the same quarter last year, the firm earned $0.91 EPS. The business’s quarterly revenue was up 1.9% on a year-over-year basis. Analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

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 paid a dividend of $0.52 per share. The ex-dividend date is Wednesday, January 21st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.6%. Colgate-Palmolive’s payout ratio is presently 58.26%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group reduced their price target on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a report on Thursday, October 2nd. Piper Sandler started coverage on shares of Colgate-Palmolive in a research note on Friday, October 3rd. They issued a “neutral” rating and a $84.00 price objective for the company. Weiss Ratings restated a “hold (c)” rating on shares of Colgate-Palmolive in a report on Wednesday, October 8th. Wells Fargo & Company cut their price target on Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating on the stock in a report on Monday, November 3rd. Finally, JPMorgan Chase & Co. boosted their price target on Colgate-Palmolive from $87.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. Ten equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.81.

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.