Colgate-Palmolive (NYSE:CL) Stock Position Lowered by King Luther Capital Management Corp

King Luther Capital Management Corp lessened its position in Colgate-Palmolive (NYSE:CL) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,307,079 shares of the company’s stock after selling 10,510 shares during the quarter. King Luther Capital Management Corp owned approximately 0.16% of Colgate-Palmolive worth $135,688,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CL. Covestor Ltd lifted its position in shares of Colgate-Palmolive by 26.9% in the 1st quarter. Covestor Ltd now owns 1,015 shares of the company’s stock valued at $91,000 after acquiring an additional 215 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of Colgate-Palmolive by 69.2% in the 1st quarter. Bessemer Group Inc. now owns 43,475 shares of the company’s stock valued at $3,915,000 after acquiring an additional 17,773 shares in the last quarter. Lake Street Advisors Group LLC lifted its position in shares of Colgate-Palmolive by 38.8% in the 1st quarter. Lake Street Advisors Group LLC now owns 4,930 shares of the company’s stock valued at $444,000 after acquiring an additional 1,377 shares in the last quarter. EP Wealth Advisors LLC increased its stake in Colgate-Palmolive by 4.0% in the 1st quarter. EP Wealth Advisors LLC now owns 43,137 shares of the company’s stock valued at $3,884,000 after buying an additional 1,662 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in Colgate-Palmolive by 263.2% in the 1st quarter. Advisors Asset Management Inc. now owns 27,126 shares of the company’s stock valued at $2,443,000 after buying an additional 19,657 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CL. JPMorgan Chase & Co. upped their price objective on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Sanford C. Bernstein upped their price objective on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a research note on Tuesday, July 30th. TD Cowen dropped their price objective on shares of Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. HSBC reiterated a “hold” rating on shares of Colgate-Palmolive in a research note on Friday, July 26th. Finally, Hsbc Global Res lowered shares of Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $105.11.

Insider Activity at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the completion of the transaction, the chief financial officer now owns 36,726 shares in the company, valued at approximately $3,456,283.86. This represents a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Martina Hundmejean sold 2,313 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the transaction, the director now owns 11,755 shares of the company’s stock, valued at $1,220,874.30. The trade was a 16.44 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Colgate-Palmolive Trading Up 0.3 %

Shares of CL stock opened at $93.91 on Thursday. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. The company has a market capitalization of $76.73 billion, a P/E ratio of 26.91, a P/E/G ratio of 3.34 and a beta of 0.42. The firm has a 50-day moving average price of $98.56 and a 200 day moving average price of $98.52. Colgate-Palmolive has a 12-month low of $75.39 and a 12-month high of $109.30.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date was Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is currently 57.31%.

Colgate-Palmolive Company Profile

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.