King Luther Capital Management Corp Sells 10,510 Shares of Colgate-Palmolive (NYSE:CL)

King Luther Capital Management Corp cut its holdings in Colgate-Palmolive (NYSE:CL) by 0.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,307,079 shares of the company’s stock after selling 10,510 shares during the quarter. King Luther Capital Management Corp’s holdings in Colgate-Palmolive were worth $135,688,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Colgate-Palmolive in the second quarter valued at about $25,000. Continuum Advisory LLC grew its stake in shares of Colgate-Palmolive by 46.5% in the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after acquiring an additional 125 shares in the last quarter. Reston Wealth Management LLC acquired a new position in shares of Colgate-Palmolive in the third quarter valued at about $42,000. Capital Performance Advisors LLP acquired a new stake in Colgate-Palmolive during the third quarter worth about $53,000. Finally, Prospera Private Wealth LLC acquired a new stake in Colgate-Palmolive during the third quarter worth about $64,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Up 0.3 %

Colgate-Palmolive stock opened at $93.91 on Thursday. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04. Colgate-Palmolive has a 52-week low of $75.39 and a 52-week high of $109.30. The firm has a 50 day moving average price of $98.56 and a two-hundred day moving average price of $98.52. The firm has a market cap of $76.73 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 3.34 and a beta of 0.42.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.00 annualized dividend and a yield of 2.13%. Colgate-Palmolive’s payout ratio is 57.31%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. UBS Group increased their price objective on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Wells Fargo & Company reduced their price objective on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating on the stock in a research note on Monday, October 28th. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a research note on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price objective on the stock. TD Cowen reduced their price objective on shares of Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Finally, Stifel Nicolaus downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their price target for the company from $105.00 to $101.00 in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.11.

Insiders Place Their Bets

In other news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total value of $4,273,535.10. Following the completion of the sale, the chief financial officer now owns 36,726 shares in the company, valued at $3,456,283.86. The trade was a 55.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the sale, the director now directly owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. The trade was a 16.44 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

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.