Klingenstein Fields & Co. LP Sells 6,050 Shares of Colgate-Palmolive (NYSE:CL)

Klingenstein Fields & Co. LP lowered its stake in Colgate-Palmolive (NYSE:CL - Free Report) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 313,516 shares of the company's stock after selling 6,050 shares during the quarter. Colgate-Palmolive accounts for approximately 1.1% of Klingenstein Fields & Co. LP's portfolio, 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 SEC filing.

Several other hedge funds also recently modified their holdings of the stock. FMR LLC increased its stake in Colgate-Palmolive by 65.6% during the 3rd quarter. FMR LLC now owns 6,749,275 shares of the company's stock valued at $700,642,000 after purchasing an additional 2,674,807 shares in the last quarter. Barclays PLC increased its stake in Colgate-Palmolive by 38.7% during the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company's stock valued at $793,542,000 after purchasing an additional 2,132,747 shares in the last quarter. State Street Corp increased its stake in Colgate-Palmolive by 3.8% during the 3rd quarter. State Street Corp now owns 48,436,276 shares of the company's stock valued at $5,028,170,000 after purchasing an additional 1,784,411 shares in the last quarter. Nordea Investment Management AB increased its stake in Colgate-Palmolive by 32.5% during the 4th quarter. Nordea Investment Management AB now owns 5,091,683 shares of the company's stock valued at $462,121,000 after purchasing an additional 1,247,731 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in Colgate-Palmolive by 864.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 777,854 shares of the company's stock valued at $80,749,000 after purchasing an additional 697,168 shares in the last quarter. Institutional investors own 80.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Morgan Stanley decreased their price target on shares of Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Piper Sandler cut their price objective on shares of Colgate-Palmolive from $121.00 to $112.00 and set an "overweight" rating on the stock in a report on Monday, January 6th. Wells Fargo & Company cut their price objective 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. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $101.00 price objective on shares of Colgate-Palmolive in a report on Wednesday, January 29th. Finally, TD Cowen cut their price objective 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. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $101.16.

Colgate-Palmolive Stock Performance

NYSE CL traded up $0.37 during trading on Tuesday, hitting $86.41. 3,827,625 shares of the company's stock traded hands, compared to its average volume of 4,960,612. The stock has a market capitalization of $70.60 billion, a price-to-earnings ratio of 24.55, a PEG ratio of 4.12 and a beta of 0.44. Colgate-Palmolive has a 12-month low of $83.70 and a 12-month high of $109.30. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.26 and a current ratio of 0.41. The business has a 50 day moving average of $89.39 and a 200-day moving average of $96.22.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The company reported $0.91 EPS for the quarter, beating 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 firm earned $0.87 EPS. As a group, equities research analysts anticipate that Colgate-Palmolive will post 3.73 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Tuesday, January 21st. Colgate-Palmolive's dividend payout ratio is presently 56.82%.

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.