Cohen Klingenstein LLC Sells 8,000 Shares of Colgate-Palmolive (NYSE:CL)

Cohen Klingenstein LLC lowered its stake in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 168,149 shares of the company's stock after selling 8,000 shares during the quarter. Colgate-Palmolive makes up approximately 0.6% of Cohen Klingenstein LLC's portfolio, making the stock its 26th largest holding. Cohen Klingenstein LLC's holdings in Colgate-Palmolive were worth $15,756,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in Colgate-Palmolive during the fourth quarter valued at about $26,000. Centricity Wealth Management LLC purchased a new stake in Colgate-Palmolive during the fourth quarter valued at about $27,000. Vermillion Wealth Management Inc. purchased a new stake in Colgate-Palmolive during the fourth quarter valued at about $31,000. Union Bancaire Privee UBP SA purchased a new stake in Colgate-Palmolive during the fourth quarter valued at about $32,000. Finally, Briaud Financial Planning Inc purchased a new stake in Colgate-Palmolive during the fourth quarter valued at about $32,000. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Price Performance

Shares of CL stock traded down $2.94 during trading on Friday, hitting $90.20. The company had a trading volume of 5,331,970 shares, compared to its average volume of 4,749,117. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40. The stock's 50-day moving average is $91.75 and its two-hundred day moving average is $91.07. The stock has a market capitalization of $73.10 billion, a price-to-earnings ratio of 25.63, a price-to-earnings-growth ratio of 4.20 and a beta of 0.38. Colgate-Palmolive has a 52 week low of $85.32 and a 52 week high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.05. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. The business had revenue of $4.91 billion for the quarter, compared to analysts' expectations of $4.92 billion. During the same period last year, the business earned $0.86 earnings per share. The business's quarterly revenue was down 3.0% on a year-over-year basis. As a group, analysts predict that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive declared that its Board of Directors has approved a share repurchase plan on Thursday, March 20th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive's payout ratio is currently 58.76%.

Wall Street Analyst Weigh In

CL has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a report on Wednesday, April 2nd. Barclays lowered their price target on shares of Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. Wall Street Zen downgraded shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Piper Sandler lowered their price target on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. Finally, Citigroup increased their price target on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $102.12.

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.