KLP Kapitalforvaltning AS Invests $48.45 Million in Colgate-Palmolive (NYSE:CL)

KLP Kapitalforvaltning AS acquired a new stake in Colgate-Palmolive (NYSE:CL - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 532,923 shares of the company's stock, valued at approximately $48,448,000. KLP Kapitalforvaltning AS owned 0.07% of Colgate-Palmolive at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Swedbank AB grew its holdings in shares of Colgate-Palmolive by 1.4% during the third quarter. Swedbank AB now owns 2,950,059 shares of the company's stock worth $306,246,000 after purchasing an additional 40,324 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in Colgate-Palmolive by 39.8% during the third quarter. Thrivent Financial for Lutherans now owns 90,023 shares of the company's stock valued at $9,345,000 after purchasing an additional 25,645 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in Colgate-Palmolive in the 3rd quarter worth approximately $64,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Colgate-Palmolive by 36.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,689 shares of the company's stock worth $1,525,000 after buying an additional 3,960 shares during the last quarter. Finally, Moran Wealth Management LLC raised its position in shares of Colgate-Palmolive by 53.1% during the 3rd quarter. Moran Wealth Management LLC now owns 7,738 shares of the company's stock valued at $803,000 after buying an additional 2,684 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

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Analyst Ratings Changes

CL has been the topic of a number of research analyst reports. Piper Sandler reduced their target price on Colgate-Palmolive from $121.00 to $112.00 and set an "overweight" rating on the stock in a research note on Monday, January 6th. StockNews.com lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Tuesday. Wells Fargo & Company dropped their target price on Colgate-Palmolive from $92.00 to $83.00 and set an "underweight" rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. increased their price target on shares of Colgate-Palmolive from $97.00 to $99.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. Finally, Stifel Nicolaus cut their price objective on shares of Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating for the company in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive presently has an average rating of "Hold" and a consensus price target of $101.72.

Colgate-Palmolive Trading Up 2.7 %

Shares of NYSE CL traded up $2.46 during midday trading on Wednesday, hitting $92.05. 4,700,411 shares of the company traded hands, compared to its average volume of 4,238,640. Colgate-Palmolive has a 12-month low of $85.32 and a 12-month high of $109.30. The firm has a market cap of $74.70 billion, a P/E ratio of 26.15, a P/E/G ratio of 4.20 and a beta of 0.40. The stock has a 50-day moving average price of $89.52 and a 200 day moving average price of $93.81. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its earnings results on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.01. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. During the same period last year, the company posted $0.87 earnings per share. As a group, analysts expect that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive announced that its Board of Directors has authorized a share buyback program on Thursday, March 20th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 6.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its shares are undervalued.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Thursday, April 17th. This is a boost from Colgate-Palmolive's previous quarterly dividend of $0.50. Colgate-Palmolive's payout ratio is 56.82%.

About Colgate-Palmolive

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.