Cohen Klingenstein LLC Sells 4,000 Shares of Colgate-Palmolive (NYSE:CL)

Cohen Klingenstein LLC trimmed its stake in shares of Colgate-Palmolive (NYSE:CL) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 176,149 shares of the company’s stock after selling 4,000 shares during the period. Colgate-Palmolive makes up 0.5% of Cohen Klingenstein LLC’s investment portfolio, making the stock its 27th largest holding. Cohen Klingenstein LLC’s holdings in Colgate-Palmolive were worth $16,014,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Reston Wealth Management LLC purchased a new position in shares of Colgate-Palmolive during the 3rd quarter worth $42,000. Capital Performance Advisors LLP purchased a new stake in Colgate-Palmolive in the 3rd quarter worth approximately $53,000. Prospera Private Wealth LLC purchased a new position in Colgate-Palmolive during the third quarter valued at approximately $64,000. True Wealth Design LLC boosted its holdings in Colgate-Palmolive by 1,460.9% in the 3rd quarter. True Wealth Design LLC now owns 718 shares of the company’s stock worth $75,000 after buying an additional 672 shares during the period. Finally, Continuum Advisory LLC boosted its stake in shares of Colgate-Palmolive by 93.4% in the third quarter. Continuum Advisory LLC now owns 762 shares of the company’s stock worth $79,000 after acquiring an additional 368 shares during the period. Institutional investors own 80.41% of the company’s stock.

Insider Buying and Selling

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total value of $4,273,535.10. Following the completion of the sale, the chief financial officer now directly owns 36,726 shares of the company’s stock, valued at $3,456,283.86. This trade represents a 55.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.37% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CL. Stifel Nicolaus reduced their price objective on Colgate-Palmolive from $101.00 to $95.00 and set a “hold” rating on the stock in a research note on Friday. Wells Fargo & Company decreased their price target on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. cut their price objective on shares of Colgate-Palmolive from $109.00 to $103.00 and set an “overweight” rating on the stock in a research report on Thursday. TD Cowen dropped their price target on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Finally, UBS Group lowered their price objective on shares of Colgate-Palmolive from $112.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Hold” and a consensus target price of $101.11.

Colgate-Palmolive Stock Up 0.3 %

Shares of Colgate-Palmolive stock opened at $88.79 on Friday. Colgate-Palmolive has a 52-week low of $79.69 and a 52-week high of $109.30. The company has a 50 day moving average of $92.27 and a 200 day moving average of $97.78. The company has a market capitalization of $72.55 billion, a P/E ratio of 25.44, a P/E/G ratio of 3.01 and a beta of 0.44. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 annualized dividend and a dividend yield of 2.25%. Colgate-Palmolive’s dividend payout ratio is presently 57.31%.

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.