Nordea Investment Management AB Sells 1,127,928 Shares of Colgate-Palmolive Company $CL

Nordea Investment Management AB cut its stake in Colgate-Palmolive Company (NYSE:CL) by 18.2% in the third quarter, HoldingsChannel.com reports. The fund owned 5,063,843 shares of the company’s stock after selling 1,127,928 shares during the period. Nordea Investment Management AB’s holdings in Colgate-Palmolive were worth $404,576,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Colgate-Palmolive during the 2nd quarter valued at $960,390,000. Schroder Investment Management Group increased its holdings in Colgate-Palmolive by 242.3% during the second quarter. Schroder Investment Management Group now owns 5,324,115 shares of the company’s stock valued at $483,962,000 after buying an additional 3,768,784 shares during the last quarter. Pacer Advisors Inc. raised its position in Colgate-Palmolive by 3,052.2% in the third quarter. Pacer Advisors Inc. now owns 2,697,047 shares of the company’s stock worth $215,602,000 after acquiring an additional 2,611,485 shares during the period. Acadian Asset Management LLC grew its position in shares of Colgate-Palmolive by 42.9% during the 2nd quarter. Acadian Asset Management LLC now owns 6,124,347 shares of the company’s stock valued at $556,663,000 after acquiring an additional 1,839,853 shares during the period. Finally, OMERS ADMINISTRATION Corp raised its holdings in Colgate-Palmolive by 2,890.5% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 1,417,542 shares of the company’s stock worth $128,855,000 after purchasing an additional 1,370,140 shares during the period. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Trading Up 0.5%

CL stock opened at $81.91 on Tuesday. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $100.18. The firm has a market cap of $66.03 billion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 5.52 and a beta of 0.30. The firm has a fifty day moving average price of $78.85 and a 200 day moving average price of $81.87. The company has a debt-to-equity ratio of 5.90, a quick ratio of 0.60 and a current ratio of 0.93.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.02. Colgate-Palmolive had a net margin of 14.47% and a return on equity of 333.39%. The firm had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.17 billion. During the same period in the prior year, the company earned $0.91 EPS. The business’s revenue was up 1.9% compared to the same quarter last year. Sell-side analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Wednesday, January 21st will be given a $0.52 dividend. The ex-dividend date is Wednesday, January 21st. This represents a $2.08 dividend on an annualized basis and a yield of 2.5%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 58.26%.

Analysts Set New Price Targets

Several analysts have issued reports on CL shares. Argus reissued a “hold” rating on shares of Colgate-Palmolive in a report on Thursday, December 11th. UBS Group lowered their price target on shares of Colgate-Palmolive from $92.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. Wells Fargo & Company set a $86.00 price target on shares of Colgate-Palmolive in a research report on Tuesday. Bank of America decreased their price target on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Finally, Barclays lowered their price target on Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 4th. Eleven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.75.

Colgate-Palmolive Company 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.