77,371 Colgate-Palmolive Company $CL Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp reduced its position in Colgate-Palmolive Company (NYSE:CL) by 6.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,108,938 shares of the company’s stock after selling 77,371 shares during the quarter. King Luther Capital Management Corp’s holdings in Colgate-Palmolive were worth $94,615,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CL. Corient Private Wealth LP increased its holdings in shares of Colgate-Palmolive by 29.0% during the 2nd quarter. Corient Private Wealth LP now owns 639,604 shares of the company’s stock valued at $58,639,000 after acquiring an additional 143,812 shares during the last quarter. Bank of America Corp DE bought a new stake in Colgate-Palmolive during the second quarter worth approximately $567,483,000. Brandywine Financial Group boosted its position in Colgate-Palmolive by 35,612.3% during the first quarter. Brandywine Financial Group now owns 72,853 shares of the company’s stock worth $6,209,000 after purchasing an additional 72,649 shares during the period. Cohen Klingenstein LLC grew its holdings in Colgate-Palmolive by 9.0% during the third quarter. Cohen Klingenstein LLC now owns 167,669 shares of the company’s stock valued at $14,306,000 after purchasing an additional 13,870 shares during the last quarter. Finally, SEB Asset Management AB acquired a new position in Colgate-Palmolive during the first quarter valued at approximately $91,149,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CL. Barclays boosted their price objective on shares of Colgate-Palmolive from $87.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 3rd. Evercore boosted their target price on shares of Colgate-Palmolive from $100.00 to $101.00 and gave the stock an “outperform” rating in a research report on Thursday, October 8th. Wells Fargo & Company boosted their target price on shares of Colgate-Palmolive from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Monday, November 2nd. Jefferies Financial Group restated a “hold” rating and set a $89.00 price target (up from $88.00) on shares of Colgate-Palmolive in a report on Monday, August 3rd. Finally, Royal Bank Of Canada raised their price target on Colgate-Palmolive from $104.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, November 2nd. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.22.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 19,938 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $98.74, for a total value of $1,968,678.12. Following the completion of the transaction, the chief operating officer owned 9,111 shares of the company’s stock, valued at $899,620.14. This represents a 68.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Noel Wallace sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $100.26, for a total value of $2,005,200.00. Following the completion of the sale, the chief executive officer owned 359,700 shares of the company’s stock, valued at $36,063,522. This represents a 5.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 73,314 shares of company stock valued at $7,212,109 in the last quarter. Corporate insiders own 0.43% of the company’s stock.

Colgate-Palmolive Trading Down 0.1%

Shares of CL stock opened at $97.98 on Thursday. The firm has a market capitalization of $77.89 billion, a P/E ratio of 25.28, a price-to-earnings-growth ratio of 4.44 and a beta of 0.31. Colgate-Palmolive Company has a 1 year low of $75.96 and a 1 year high of $101.18. The firm’s fifty day simple moving average is $90.59 and its 200 day simple moving average is $90.16. 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 (NYSE:CL) last posted its quarterly earnings results 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 net margin of 9.65% and a return on equity of 607.88%. The company had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.34 billion. During the same period last year, the business posted $0.91 EPS. The business’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, sell-side analysts predict that Colgate-Palmolive Company will post 3.92 EPS for the current year.

Colgate-Palmolive Announces Dividend

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

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.