13,870 Colgate-Palmolive Company $CL Shares Purchased by Cohen Klingenstein LLC

Key Points

• Cohen Klingenstein LLC increased its Colgate-Palmolive stake by 9% in the third quarter, purchasing 13,870 shares and bringing its holdings to 167,669 shares valued at approximately $14.3 million. Institutional investors collectively own 80.41% of the company.
• Colgate-Palmolive reported quarterly earnings of $0.99 per share, exceeding the $0.95 consensus estimate, while revenue rose 4.9% year over year to $5.36 billion. The company also declared a quarterly dividend of $0.53 per share, representing a 2.3% yield.
• Company insiders sold 175,191 shares worth approximately $16.1 million over the past 90 days, including a sizable sale by CEO Noel Wallace. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $97.95.

Cohen Klingenstein LLC grew its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 9.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 167,669 shares of the company's stock after acquiring an additional 13,870 shares during the quarter. Cohen Klingenstein LLC's holdings in Colgate-Palmolive were worth $14,306,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Barlow Wealth Partners LLC raised its stake in shares of Colgate-Palmolive by 11.9% in the 3rd quarter. Barlow Wealth Partners LLC now owns 7,309 shares of the company's stock valued at $624,000 after acquiring an additional 775 shares during the period. Assenagon Asset Management S.A. boosted its position in Colgate-Palmolive by 151.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,276,774 shares of the company's stock worth $364,894,000 after purchasing an additional 2,575,530 shares during the period. Brindle & Bay Financial Advisors LLC boosted its position in Colgate-Palmolive by 38.3% during the 3rd quarter. Brindle & Bay Financial Advisors LLC now owns 14,898 shares of the company's stock worth $1,271,000 after purchasing an additional 4,127 shares during the period. Maryland Capital Advisors Inc. increased its holdings in Colgate-Palmolive by 17,633.3% in the 3rd quarter. Maryland Capital Advisors Inc. now owns 532 shares of the company's stock valued at $45,000 after purchasing an additional 529 shares in the last quarter. Finally, Retirement Planning Co of New England Inc. increased its holdings in Colgate-Palmolive by 100.1% in the 3rd quarter. Retirement Planning Co of New England Inc. now owns 8,487 shares of the company's stock valued at $724,000 after purchasing an additional 4,246 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 161,021 shares of the business's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the completion of the sale, the chief executive officer owned 362,231 shares in the company, valued at $33,296,273.52. The trade was a 30.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Cahill sold 4,170 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total transaction of $389,352.90. Following the sale, the director directly owned 28,373 shares in the company, valued at $2,649,187.01. This trade represents a 12.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 175,191 shares of company stock worth $16,110,903 over the last ninety days. 0.43% of the stock is owned by insiders.

Colgate-Palmolive Trading Down 0.2%

Shares of NYSE CL opened at $92.61 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. The stock's 50 day moving average price is $89.04 and its two-hundred day moving average price is $88.99. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The stock has a market capitalization of $73.82 billion, a P/E ratio of 36.75, a PEG ratio of 4.44 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%. The company had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.36 billion. During the same quarter last year, the firm earned $0.92 EPS. The business's revenue was up 4.9% on a year-over-year basis. On average, analysts anticipate that Colgate-Palmolive Company will post 3.87 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 20th will be paid a dividend of $0.53 per share. The ex-dividend date is Tuesday, October 20th. This represents a $2.12 annualized dividend and a yield of 2.3%. Colgate-Palmolive's dividend payout ratio (DPR) is 84.13%.

Wall Street Analyst Weigh In

CL has been the topic of several research reports. Evercore raised their price objective on Colgate-Palmolive from $100.00 to $101.00 and gave the company an "outperform" rating in a research report on Thursday, October 8th. Barclays upped their target price on Colgate-Palmolive from $80.00 to $87.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 21st. BNP Paribas Exane reduced their target price on Colgate-Palmolive from $101.00 to $97.00 and set an "outperform" rating for the company in a research note on Monday, September 28th. Wells Fargo & Company reduced their target price on Colgate-Palmolive from $95.00 to $90.00 and set an "equal weight" rating for the company in a research note on Monday, October 5th. Finally, Citigroup raised their price target on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $97.95.

Colgate-Palmolive Profile

Colgate-Palmolive Company NYSE: CL is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwashes, body washes, deodorants, soaps, household cleaning products and pet food and treats.

The company markets many of its products under well-known brands, including Colgate, Palmolive, elmex, meridol, Protex, Softsoap, Ajax, Irish Spring, Speed Stick, Tom's of Maine and Hill's Science Diet.

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