Klingenstein Fields & Co. LP Sells 6,555 Shares of Colgate-Palmolive Company (NYSE:CL)

Klingenstein Fields & Co. LP lowered its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 2.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 306,961 shares of the company's stock after selling 6,555 shares during the quarter. Colgate-Palmolive comprises about 1.2% of Klingenstein Fields & Co. LP's portfolio, making the stock its 28th biggest holding. Klingenstein Fields & Co. LP's holdings in Colgate-Palmolive were worth $28,762,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Colgate-Palmolive by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 81,303,059 shares of the company's stock worth $7,391,261,000 after acquiring an additional 588,230 shares during the period. Geode Capital Management LLC boosted its position in shares of Colgate-Palmolive by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 20,518,014 shares of the company's stock valued at $1,868,723,000 after purchasing an additional 324,683 shares in the last quarter. Norges Bank acquired a new position in shares of Colgate-Palmolive in the 4th quarter worth approximately $912,375,000. Northern Trust Corp raised its holdings in shares of Colgate-Palmolive by 11.7% in the 4th quarter. Northern Trust Corp now owns 9,497,819 shares of the company's stock worth $863,447,000 after purchasing an additional 993,328 shares in the last quarter. Finally, Amundi lifted its stake in Colgate-Palmolive by 12.8% during the fourth quarter. Amundi now owns 9,200,144 shares of the company's stock valued at $806,015,000 after purchasing an additional 1,040,604 shares during the last quarter. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Stock Performance

CL traded up $0.32 during trading on Wednesday, reaching $92.36. 5,342,183 shares of the company's stock were exchanged, compared to its average volume of 4,797,503. Colgate-Palmolive Company has a fifty-two week low of $85.32 and a fifty-two week high of $109.30. The company has a market capitalization of $74.85 billion, a P/E ratio of 26.09, a PEG ratio of 4.83 and a beta of 0.37. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 8.96. The business has a 50 day moving average price of $90.71 and a 200 day moving average price of $90.56.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. The business had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. Colgate-Palmolive had a net margin of 14.52% and a return on equity of 461.04%. The firm's revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 EPS. As a group, analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

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

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be issued a $0.52 dividend. The ex-dividend date is Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.25%. Colgate-Palmolive's payout ratio is presently 58.76%.

Wall Street Analyst Weigh In

Several research firms have issued reports on CL. Wells Fargo & Company lifted their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 2nd. Wall Street Zen cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Citigroup boosted their target price on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Barclays decreased their price target on Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. Finally, JPMorgan Chase & Co. lifted their price target on Colgate-Palmolive from $95.00 to $103.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $101.69.

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.