Klingenstein Fields & Co. LP Decreases Stock Holdings in Colgate-Palmolive (NYSE:CL)

Klingenstein Fields & Co. LP lowered its stake in shares of Colgate-Palmolive (NYSE:CL) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 313,516 shares of the company’s stock after selling 6,050 shares during the period. Colgate-Palmolive comprises 1.1% of Klingenstein Fields & Co. LP’s portfolio, making the stock its 29th largest holding. Klingenstein Fields & Co. LP’s holdings in Colgate-Palmolive were worth $28,502,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Union Bancaire Privee UBP SA purchased a new stake in Colgate-Palmolive during the fourth quarter worth about $32,000. Hager Investment Management Services LLC acquired a new position in Colgate-Palmolive during the fourth quarter worth about $36,000. Reston Wealth Management LLC acquired a new position in Colgate-Palmolive during the third quarter worth about $42,000. Capital Performance Advisors LLP acquired a new position in Colgate-Palmolive during the third quarter worth about $53,000. Finally, Synergy Asset Management LLC acquired a new position in Colgate-Palmolive during the fourth quarter worth about $49,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $87.87 on Friday. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.26 and a current ratio of 0.41. Colgate-Palmolive has a 1 year low of $82.83 and a 1 year high of $109.30. The firm has a 50 day moving average price of $89.83 and a 200 day moving average price of $96.54. The company has a market cap of $71.79 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 4.12 and a beta of 0.44.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.01. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. During the same quarter in the prior year, the company earned $0.87 earnings per share. Sell-side analysts predict that Colgate-Palmolive will post 3.73 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $2.00 annualized dividend and a yield of 2.28%. Colgate-Palmolive’s dividend payout ratio is currently 56.82%.

Analyst Ratings Changes

A number of equities analysts have issued reports on CL shares. Royal Bank of Canada restated a “sector perform” rating and set a $101.00 target price on shares of Colgate-Palmolive in a research report on Wednesday, January 29th. Morgan Stanley cut their target price on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Piper Sandler cut their target price on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. TD Cowen cut their price objective on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Colgate-Palmolive from $103.00 to $97.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Colgate-Palmolive has a consensus rating of “Hold” and an average target price of $101.16.

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.