Skandinaviska Enskilda Banken AB publ Has $148.43 Million Stock Holdings in Colgate-Palmolive Company $CL

Skandinaviska Enskilda Banken AB publ trimmed its holdings in Colgate-Palmolive Company (NYSE:CL) by 8.4% during the second quarter, Holdings Channel reports. The institutional investor owned 1,632,904 shares of the company’s stock after selling 150,332 shares during the quarter. Colgate-Palmolive makes up about 0.6% of Skandinaviska Enskilda Banken AB publ’s holdings, making the stock its 22nd largest position. Skandinaviska Enskilda Banken AB publ’s holdings in Colgate-Palmolive were worth $148,431,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Westside Investment Management Inc. lifted its position in Colgate-Palmolive by 85.5% in the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after acquiring an additional 130 shares in the last quarter. Saudi Central Bank purchased a new stake in shares of Colgate-Palmolive in the first quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC lifted its holdings in shares of Colgate-Palmolive by 86.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock valued at $30,000 after purchasing an additional 155 shares in the last quarter. Ransom Advisory Ltd purchased a new position in shares of Colgate-Palmolive during the first quarter valued at approximately $33,000. Finally, Y.D. More Investments Ltd bought a new stake in Colgate-Palmolive during the first quarter worth $37,000. 80.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CL. Barclays dropped their price objective on Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 4th. UBS Group dropped their price target on shares of Colgate-Palmolive from $92.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. The Goldman Sachs Group cut their price target on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, October 2nd. Wells Fargo & Company decreased their price objective on shares of Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating for the company in a research note on Monday, November 3rd. Finally, Deutsche Bank Aktiengesellschaft set a $86.00 target price on shares of Colgate-Palmolive in a research report on Friday, October 10th. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.87.

Colgate-Palmolive Stock Up 0.4%

Colgate-Palmolive stock opened at $80.14 on Friday. The firm has a 50 day moving average price of $78.57 and a 200-day moving average price of $84.54. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $100.18. The company has a market capitalization of $64.59 billion, a P/E ratio of 22.51, a P/E/G ratio of 4.44 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The company had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.17 billion. During the same quarter in the previous year, the firm posted $0.91 EPS. Colgate-Palmolive’s revenue was up 1.9% on a year-over-year basis. As a group, equities analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 17th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is currently 58.26%.

Colgate-Palmolive Company 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.