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

Cohen Klingenstein LLC lessened its stake in Colgate-Palmolive (NYSE:CL - Free Report) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 176,149 shares of the company's stock after selling 4,000 shares during the quarter. Colgate-Palmolive makes up about 0.5% of Cohen Klingenstein LLC's holdings, making the stock its 27th largest position. Cohen Klingenstein LLC's holdings in Colgate-Palmolive were worth $16,014,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of CL. Envestnet Asset Management Inc. grew its holdings in shares of Colgate-Palmolive by 16.2% in the second quarter. Envestnet Asset Management Inc. now owns 459,445 shares of the company's stock valued at $44,585,000 after acquiring an additional 64,123 shares in the last quarter. Edgestream Partners L.P. raised its stake in shares of Colgate-Palmolive by 13.9% during the 2nd quarter. Edgestream Partners L.P. now owns 19,864 shares of the company's stock worth $1,928,000 after purchasing an additional 2,423 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Colgate-Palmolive by 2.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 126,759 shares of the company's stock worth $12,301,000 after buying an additional 2,541 shares during the last quarter. XTX Topco Ltd bought a new position in Colgate-Palmolive during the second quarter valued at about $423,000. Finally, Brighton Jones LLC increased its holdings in Colgate-Palmolive by 49.4% during the second quarter. Brighton Jones LLC now owns 10,308 shares of the company's stock worth $1,000,000 after buying an additional 3,410 shares during the last quarter. Institutional investors own 80.41% of the company's stock.

Insider Buying and Selling at Colgate-Palmolive

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 transaction, the chief financial officer now owns 36,726 shares in the company, valued at $3,456,283.86. This trade represents a 55.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.34% of the company's stock.

Analyst Ratings Changes

CL has been the topic of several research analyst reports. Barclays dropped their price objective on Colgate-Palmolive from $96.00 to $83.00 and set an "equal weight" rating on the stock in a research note on Friday. TD Cowen lowered their price objective on Colgate-Palmolive from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, January 8th. 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. JPMorgan Chase & Co. lowered their price target 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. Finally, StockNews.com lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Thursday, January 9th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $101.11.

Colgate-Palmolive Trading Up 0.3 %

Shares of NYSE CL traded up $0.23 during midday trading on Friday, reaching $88.79. The company had a trading volume of 5,149,874 shares, compared to its average volume of 3,679,883. The stock has a market cap of $72.55 billion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 3.01 and a beta of 0.44. Colgate-Palmolive has a one year low of $79.69 and a one year high of $109.30. The firm's fifty day moving average price is $92.20 and its 200-day moving average price is $97.75. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 21st will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.25%. Colgate-Palmolive's dividend payout ratio is presently 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.