Klingenstein Fields & Co. LP Trims Stock Holdings in Colgate-Palmolive Company $CL

Klingenstein Fields & Co. LP trimmed its holdings in Colgate-Palmolive Company (NYSE:CL) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 294,933 shares of the company’s stock after selling 6,236 shares during the period. Klingenstein Fields & Co. LP’s holdings in Colgate-Palmolive were worth $23,306,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of CL. Norges Bank purchased a new position in Colgate-Palmolive in the 4th quarter valued at approximately $861,670,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Colgate-Palmolive by 8,040.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock valued at $380,666,000 after purchasing an additional 4,598,789 shares during the period. Deutsche Bank AG boosted its holdings in Colgate-Palmolive by 33.9% in the 4th quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock valued at $857,040,000 after purchasing an additional 2,746,920 shares during the period. Franklin Resources Inc. boosted its holdings in Colgate-Palmolive by 47.4% in the 4th quarter. Franklin Resources Inc. now owns 6,044,168 shares of the company’s stock valued at $477,610,000 after purchasing an additional 1,942,946 shares during the period. Finally, Amundi boosted its holdings in Colgate-Palmolive by 41.6% in the 3rd quarter. Amundi now owns 6,294,445 shares of the company’s stock valued at $487,505,000 after purchasing an additional 1,850,412 shares during the period. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

NYSE CL opened at $89.40 on Friday. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. The company has a market capitalization of $71.54 billion, a P/E ratio of 34.79, a P/E/G ratio of 4.71 and a beta of 0.33. The company has a fifty day moving average of $86.85 and a 200-day moving average of $86.25.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the previous year, the firm posted $0.91 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. As a group, equities research analysts predict that Colgate-Palmolive Company will post 3.81 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, July 20th will be 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 is Monday, July 20th. Colgate-Palmolive’s payout ratio is currently 82.49%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $102.00 price target on shares of Colgate-Palmolive in a report on Monday, May 4th. Barclays raised their price target on shares of Colgate-Palmolive from $79.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th. Bank of America cut their price target on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating for the company in a report on Friday, April 10th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $99.00 price target on shares of Colgate-Palmolive in a report on Monday, May 4th. Finally, Piper Sandler cut their price target on shares of Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.