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

Klingenstein Fields & Co. LP cut its position in Colgate-Palmolive (NYSE:CL) by 1.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 313,516 shares of the company’s stock after selling 6,050 shares during the quarter. Colgate-Palmolive comprises 1.1% of Klingenstein Fields & Co. LP’s holdings, making the stock its 29th largest position. 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 and hedge funds have also made changes to their positions in the company. Union Bancaire Privee UBP SA purchased a new position in shares of Colgate-Palmolive in the fourth quarter valued at $32,000. Hager Investment Management Services LLC purchased a new position in shares of Colgate-Palmolive in the fourth quarter valued at $36,000. Reston Wealth Management LLC purchased a new position in shares of Colgate-Palmolive in the third quarter valued at $42,000. Synergy Asset Management LLC purchased a new position in shares of Colgate-Palmolive in the fourth quarter valued at $49,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Colgate-Palmolive in the third quarter valued at $53,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Up 1.3 %

CL stock opened at $87.87 on Friday. The company has a quick ratio of 0.26, a current ratio of 0.41 and a debt-to-equity ratio of 9.46. Colgate-Palmolive has a fifty-two week low of $82.83 and a fifty-two week high of $109.30. The firm’s 50-day simple moving average is $89.83 and its 200 day simple moving average is $96.54. The stock has a market cap of $71.79 billion, a PE ratio of 24.96, a price-to-earnings-growth 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 for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the firm posted $0.87 EPS. As a group, sell-side analysts predict that Colgate-Palmolive will post 3.73 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 21st will be issued a $0.50 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.28%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 56.82%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Piper Sandler decreased 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 note on Monday, January 6th. UBS Group cut their price target on shares of Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. TD Cowen cut their price target on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Wells Fargo & Company cut their price target on shares of Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Finally, Morgan Stanley cut their price target on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $101.16.

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.