Avanza Fonder AB Makes New Investment in Colgate-Palmolive (NYSE:CL)

Avanza Fonder AB acquired a new stake in shares of Colgate-Palmolive (NYSE:CL) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 87,387 shares of the company’s stock, valued at approximately $7,944,000.

A number of other hedge funds have also modified their holdings of the stock. Reston Wealth Management LLC acquired a new stake in Colgate-Palmolive during the 3rd quarter worth about $42,000. Capital Performance Advisors LLP acquired a new stake in shares of Colgate-Palmolive during the third quarter valued at approximately $53,000. Prospera Private Wealth LLC acquired a new position in Colgate-Palmolive in the 3rd quarter worth approximately $64,000. True Wealth Design LLC raised its stake in Colgate-Palmolive by 1,460.9% during the 3rd quarter. True Wealth Design LLC now owns 718 shares of the company’s stock valued at $75,000 after purchasing an additional 672 shares during the period. Finally, Continuum Advisory LLC lifted its holdings in shares of Colgate-Palmolive by 93.4% in the third quarter. Continuum Advisory LLC now owns 762 shares of the company’s stock valued at $79,000 after purchasing an additional 368 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Colgate-Palmolive

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total value of $4,273,535.10. Following the completion of the sale, the chief financial officer now directly owns 36,726 shares in the company, valued at $3,456,283.86. This represents a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Wells Fargo & Company dropped their price target on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. TD Cowen reduced their price target on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. lowered their price objective on shares of Colgate-Palmolive from $109.00 to $103.00 and set an “overweight” rating on the stock in a research report on Thursday. Piper Sandler decreased their target price on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Finally, UBS Group cut their price objective on Colgate-Palmolive from $112.00 to $104.00 and set a “buy” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $102.11.

Colgate-Palmolive Stock Performance

CL stock opened at $88.62 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. Colgate-Palmolive has a twelve month low of $79.69 and a twelve month high of $109.30. The business’s fifty day moving average is $92.32 and its 200-day moving average is $97.85. The company has a market cap of $72.40 billion, a P/E ratio of 25.39, a price-to-earnings-growth ratio of 3.01 and a beta of 0.44.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Tuesday, January 21st. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 57.31%.

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.