Colgate-Palmolive Company $CL Stock: King Luther Capital Management Corp Lowers Holdings

King Luther Capital Management Corp lowered its holdings in Colgate-Palmolive Company (NYSE:CL) by 6.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,108,938 shares of the company’s stock after selling 77,371 shares during the period. King Luther Capital Management Corp owned about 0.14% of Colgate-Palmolive worth $94,615,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. State Street Corp raised its position in shares of Colgate-Palmolive by 97.4% in the 2nd quarter. State Street Corp now owns 94,195,992 shares of the company’s stock valued at $8,635,889,000 after purchasing an additional 46,476,510 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Colgate-Palmolive by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 13,532,417 shares of the company’s stock worth $1,240,652,000 after buying an additional 1,010,872 shares in the last quarter. First Eagle Investment Management LLC increased its stake in shares of Colgate-Palmolive by 1.1% in the second quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company’s stock worth $752,298,000 after buying an additional 88,917 shares during the last quarter. Amundi boosted its stake in Colgate-Palmolive by 19.9% during the 2nd quarter. Amundi now owns 6,218,257 shares of the company’s stock valued at $570,090,000 after acquiring an additional 1,033,918 shares during the last quarter. Finally, Bank of America Corp DE bought a new position in Colgate-Palmolive during the 2nd quarter valued at $567,483,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CL. UBS Group upped their target price on shares of Colgate-Palmolive from $106.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, November 2nd. Raymond James Financial increased their target price on Colgate-Palmolive from $100.00 to $102.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Bank of America raised their price objective on Colgate-Palmolive from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, November 2nd. Barclays raised their price target on shares of Colgate-Palmolive from $87.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 3rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Colgate-Palmolive from $104.00 to $102.00 and set an “overweight” rating for the company in a research report on Monday, November 2nd. Thirteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus target price of $101.22.

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $97.98 on Thursday. The firm’s 50 day moving average is $90.59 and its two-hundred day moving average is $90.16. The firm has a market capitalization of $77.89 billion, a P/E ratio of 25.28, a PEG ratio of 4.44 and a beta of 0.31. The company has a current ratio of 0.96, a quick ratio of 0.63 and a debt-to-equity ratio of 11.23. Colgate-Palmolive Company has a 52 week low of $75.96 and a 52 week high of $101.18.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, October 30th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. Colgate-Palmolive had a return on equity of 607.88% and a net margin of 9.65%. The business had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.34 billion. During the same period in the previous year, the firm posted $0.91 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis. Analysts anticipate that Colgate-Palmolive Company will post 3.92 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, October 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.2%. Colgate-Palmolive’s dividend payout ratio is presently 83.14%.

Insider Activity

In other Colgate-Palmolive news, insider John Hazlin sold 23,376 shares of the company’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $99.15, for a total value of $2,317,730.40. Following the completion of the sale, the insider directly owned 27,021 shares of the company’s stock, valued at approximately $2,679,132.15. This represents a 46.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Noel R. Wallace sold 20,000 shares of the stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $100.26, for a total value of $2,005,200.00. Following the completion of the transaction, the chief executive officer owned 359,700 shares of the company’s stock, valued at $36,063,522. This trade represents a 5.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 73,314 shares of company stock valued at $7,212,109. Company insiders own 0.43% of the company’s stock.

Colgate-Palmolive Profile

Colgate-Palmolive is a global consumer products company whose business spans oral care, personal care, home care and pet nutrition. Its products include toothpaste, toothbrushes, mouthwashes, soaps, shampoos, cleaning products and pet food. The company’s best-known brands include Colgate, Palmolive, elmex, Softsoap, Ajax and Hill’s Pet Nutrition. It sells products through retail and other channels in markets around the world. Founded in 1806 by William Colgate as a soap and candle business in New York City, the company has grown into an international manufacturer of household and personal care products.