King Luther Capital Management Corp Sells 11,207 Shares of Colgate-Palmolive (NYSE:CL)

King Luther Capital Management Corp lessened its holdings in Colgate-Palmolive (NYSE:CL) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,484,744 shares of the company’s stock after selling 11,207 shares during the quarter. King Luther Capital Management Corp’s holdings in Colgate-Palmolive were worth $114,385,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Tucker Asset Management LLC acquired a new stake in shares of Colgate-Palmolive in the 1st quarter valued at approximately $27,000. Register Financial Advisors LLC bought a new position in shares of Colgate-Palmolive during the 1st quarter worth approximately $30,000. Glass Jacobson Investment Advisors llc bought a new position in shares of Colgate-Palmolive during the 2nd quarter worth approximately $36,000. Capital Advisors Ltd. LLC grew its stake in shares of Colgate-Palmolive by 68.0% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 692 shares of the company’s stock worth $53,000 after acquiring an additional 280 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of Colgate-Palmolive by 278.4% during the 2nd quarter. Larson Financial Group LLC now owns 700 shares of the company’s stock worth $54,000 after acquiring an additional 515 shares in the last quarter. Institutional investors own 78.36% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of CL traded down $0.09 during midday trading on Monday, reaching $75.49. 218,371 shares of the stock were exchanged, compared to its average volume of 4,677,795. Colgate-Palmolive has a twelve month low of $67.62 and a twelve month high of $82.09. The company has a quick ratio of 0.74, a current ratio of 1.16 and a debt-to-equity ratio of 21.40. The company has a market cap of $62.16 billion, a P/E ratio of 39.36, a PEG ratio of 3.35 and a beta of 0.46. The stock’s 50 day simple moving average is $72.90 and its 200 day simple moving average is $75.18.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, October 27th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. The company had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.81 billion. Colgate-Palmolive had a return on equity of 533.40% and a net margin of 8.29%. The company’s revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 earnings per share. On average, sell-side analysts expect that Colgate-Palmolive will post 3.21 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Monday, October 23rd were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend was Friday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 100.00%.

Wall Street Analysts Forecast Growth

CL has been the subject of several analyst reports. Morgan Stanley decreased their target price on shares of Colgate-Palmolive from $89.00 to $85.00 and set an “overweight” rating for the company in a research note on Monday, October 30th. Bank of America decreased their target price on shares of Colgate-Palmolive from $85.00 to $75.00 and set a “neutral” rating for the company in a research note on Tuesday, October 17th. StockNews.com raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Monday, October 30th. Citigroup decreased their target price on shares of Colgate-Palmolive from $92.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, October 11th. Finally, Jefferies Financial Group started coverage on shares of Colgate-Palmolive in a research note on Monday, November 13th. They issued a “buy” rating and a $87.00 target price for the company. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.57.

Insider Activity at Colgate-Palmolive

In related news, insider John W. Kooyman sold 3,000 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $75.11, for a total value of $225,330.00. Following the completion of the transaction, the insider now owns 5,347 shares of the company’s stock, valued at $401,613.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Colgate-Palmolive news, Director Lorrie M. Norrington sold 6,329 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $74.56, for a total transaction of $471,890.24. Following the completion of the transaction, the director now owns 31,307 shares of the company’s stock, valued at $2,334,249.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John W. Kooyman sold 3,000 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $75.11, for a total value of $225,330.00. Following the transaction, the insider now directly owns 5,347 shares of the company’s stock, valued at approximately $401,613.17. The disclosure for this sale can be found here. Insiders sold a total of 93,153 shares of company stock valued at $6,851,466 over the last quarter. 0.34% of the stock is owned by corporate insiders.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company 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.