King Luther Capital Management Corp Reduces Stock Position in Colgate-Palmolive Company $CL

King Luther Capital Management Corp lessened its holdings in Colgate-Palmolive Company (NYSE:CLFree Report) by 4.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,260,679 shares of the company’s stock after selling 58,105 shares during the period. King Luther Capital Management Corp’s holdings in Colgate-Palmolive were worth $99,619,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CL. Brighton Jones LLC lifted its stake in shares of Colgate-Palmolive by 4.4% in the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock worth $962,000 after purchasing an additional 450 shares during the period. Woodline Partners LP lifted its stake in shares of Colgate-Palmolive by 76.3% in the 1st quarter. Woodline Partners LP now owns 46,361 shares of the company’s stock worth $4,344,000 after purchasing an additional 20,062 shares during the period. Schnieders Capital Management LLC. raised its stake in Colgate-Palmolive by 2.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 12,494 shares of the company’s stock worth $1,136,000 after acquiring an additional 245 shares during the period. Nebula Research & Development LLC raised its stake in Colgate-Palmolive by 165.5% during the 2nd quarter. Nebula Research & Development LLC now owns 10,326 shares of the company’s stock worth $939,000 after acquiring an additional 6,437 shares during the period. Finally, Sei Investments Co. raised its stake in Colgate-Palmolive by 21.7% during the 2nd quarter. Sei Investments Co. now owns 657,093 shares of the company’s stock worth $59,732,000 after acquiring an additional 116,968 shares during the period. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Trading Down 0.5%

CL stock opened at $90.16 on Wednesday. The firm has a fifty day moving average price of $86.19 and a 200 day moving average price of $85.41. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. The firm has a market cap of $72.34 billion, a PE ratio of 35.08, a price-to-earnings-growth ratio of 4.71 and a beta of 0.31.

Colgate-Palmolive (NYSE:CLGet Free Report) last posted its earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same period last year, the firm posted $0.91 earnings per share. Colgate-Palmolive’s revenue for the quarter was up 8.4% compared to the same quarter last year. Sell-side analysts anticipate that Colgate-Palmolive Company will post 3.82 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, April 20th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.4%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Monday, April 20th. Colgate-Palmolive’s payout ratio is 82.49%.

Wall Street Analyst Weigh In

A number of research firms have commented on CL. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $99.00 target price on shares of Colgate-Palmolive in a research note on Monday, May 4th. UBS Group raised their target price on shares of Colgate-Palmolive from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Citigroup lifted their price objective on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. TD Cowen reiterated a “hold” rating and set a $85.00 price objective on shares of Colgate-Palmolive in a research report on Tuesday, March 31st. Finally, Wells Fargo & Company reduced their price objective on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average target price of $95.88.

Get Our Latest Report on CL

Colgate-Palmolive Profile

(Free Report)

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.

See Also

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

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