King Luther Capital Management Corp Sells 58,105 Shares of Colgate-Palmolive Company $CL

King Luther Capital Management Corp cut its stake in Colgate-Palmolive Company (NYSE:CL) by 4.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,260,679 shares of the company’s stock after selling 58,105 shares during the quarter. King Luther Capital Management Corp owned about 0.16% of Colgate-Palmolive worth $99,619,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CL. CBIZ Investment Advisory Services LLC grew its position in shares of Colgate-Palmolive by 86.7% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock worth $26,000 after buying an additional 150 shares during the period. Maseco LLP purchased a new stake in shares of Colgate-Palmolive in the 4th quarter worth about $27,000. Copia Wealth Management purchased a new stake in shares of Colgate-Palmolive in the 3rd quarter worth about $29,000. Cloud Capital Management LLC purchased a new stake in shares of Colgate-Palmolive in the 3rd quarter worth about $30,000. Finally, Global Wealth Strategies & Associates grew its position in shares of Colgate-Palmolive by 300.0% in the 4th quarter. Global Wealth Strategies & Associates now owns 400 shares of the company’s stock worth $32,000 after buying an additional 300 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $90.16 on Wednesday. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The company’s 50-day moving average is $86.19 and its 200 day moving average is $85.41. The company has a market capitalization of $72.34 billion, a price-to-earnings ratio of 35.08, a price-to-earnings-growth ratio of 4.71 and a beta of 0.31. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. The company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. Colgate-Palmolive’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 EPS. Sell-side analysts expect that Colgate-Palmolive Company will post 3.82 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CL shares. Piper Sandler reduced their target price on shares of Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th. Wells Fargo & Company reduced their target price 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. Bank of America reduced their target price on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, April 10th. TD Cowen reaffirmed a “hold” rating and issued a $85.00 target price on shares of Colgate-Palmolive in a research report on Tuesday, March 31st. Finally, Citigroup upped their target price on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.88.

Colgate-Palmolive Profile

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.