Alecta Pensionsforsakring Omsesidigt Cuts Position in Colgate-Palmolive Company (CL)

Alecta Pensionsforsakring Omsesidigt cut its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 21.3% during the first quarter, Holdings Channel reports. The fund owned 2,824,500 shares of the company’s stock after selling 765,000 shares during the period. Colgate-Palmolive Company accounts for about 1.9% of Alecta Pensionsforsakring Omsesidigt’s holdings, making the stock its 23rd largest position. Alecta Pensionsforsakring Omsesidigt’s holdings in Colgate-Palmolive Company were worth $206,725,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CL. Advantage Investment Management LLC bought a new stake in Colgate-Palmolive Company during the fourth quarter valued at $104,000. North Star Investment Management Corp. raised its stake in Colgate-Palmolive Company by 3.9% in the first quarter. North Star Investment Management Corp. now owns 1,797 shares of the company’s stock valued at $132,000 after buying an additional 67 shares during the period. Security Asset Management bought a new stake in Colgate-Palmolive Company during the fourth quarter valued at $131,000. SRS Capital Advisors Inc. bought a new stake in Colgate-Palmolive Company during the fourth quarter valued at $132,000. Finally, Sowell Financial Services LLC bought a new stake in Colgate-Palmolive Company during the fourth quarter valued at $173,000. 74.13% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Colgate-Palmolive Company (NYSE:CL)

Shares of Colgate-Palmolive Company (NYSE CL) opened at 75.92 on Monday. The company has a market capitalization of $67.06 billion, a PE ratio of 27.40 and a beta of 0.82. Colgate-Palmolive Company has a 52-week low of $63.43 and a 52-week high of $77.27. The stock’s 50 day moving average price is $74.49 and its 200-day moving average price is $71.10.

Colgate-Palmolive Company (NYSE:CL) last released its quarterly earnings data on Friday, April 28th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.01. The company had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.80 billion. Colgate-Palmolive Company had a return on equity of 3,725.55% and a net margin of 16.31%. The business’s revenue was up .0% on a year-over-year basis. During the same period last year, the firm posted $0.63 earnings per share. On average, analysts expect that Colgate-Palmolive Company will post $2.92 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, July 18th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, July 14th. This represents a $1.60 annualized dividend and a yield of 2.11%. Colgate-Palmolive Company’s payout ratio is currently 57.76%.

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CL has been the subject of several analyst reports. Zacks Investment Research upgraded Colgate-Palmolive Company from a “sell” rating to a “hold” rating in a report on Friday, March 10th. J P Morgan Chase & Co initiated coverage on Colgate-Palmolive Company in a report on Tuesday, March 21st. They issued a “neutral” rating and a $77.00 target price for the company. Citigroup Inc. boosted their target price on Colgate-Palmolive Company from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, March 21st. Royal Bank Of Canada restated a “hold” rating and issued a $74.00 target price on shares of Colgate-Palmolive Company in a report on Thursday, March 23rd. Finally, Jefferies Group LLC initiated coverage on Colgate-Palmolive Company in a report on Tuesday, April 18th. They issued a “hold” rating and a $78.00 target price for the company. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and two have given a buy rating to the stock. Colgate-Palmolive Company has a consensus rating of “Hold” and an average price target of $75.41.

In related news, Director Richard J. Kogan sold 8,000 shares of Colgate-Palmolive Company stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $71.92, for a total transaction of $575,360.00. Following the completion of the sale, the director now directly owns 73,065 shares of the company’s stock, valued at approximately $5,254,834.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Patricia Verduin sold 3,833 shares of Colgate-Palmolive Company stock in a transaction that occurred on Monday, April 17th. The stock was sold at an average price of $73.72, for a total value of $282,568.76. Following the sale, the insider now directly owns 53,022 shares of the company’s stock, valued at $3,908,781.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,666 shares of company stock valued at $3,184,972. 1.02% of the stock is currently owned by insiders.

About Colgate-Palmolive Company

Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.

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