King Luther Capital Management Corp Acquires 3,461 Shares of Colgate-Palmolive (NYSE:CL)

King Luther Capital Management Corp grew its holdings in shares of Colgate-Palmolive (NYSE:CL) by 0.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,317,589 shares of the company’s stock after purchasing an additional 3,461 shares during the period. King Luther Capital Management Corp owned about 0.16% of Colgate-Palmolive worth $127,859,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in CL. Price T Rowe Associates Inc. MD increased its stake in Colgate-Palmolive by 27.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock worth $3,698,096,000 after acquiring an additional 8,933,912 shares during the period. Swedbank AB acquired a new position in Colgate-Palmolive in the first quarter valued at about $286,370,000. Acadian Asset Management LLC lifted its position in Colgate-Palmolive by 108.4% during the second quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock worth $551,367,000 after purchasing an additional 2,955,442 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Colgate-Palmolive by 40.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock worth $870,400,000 after buying an additional 2,593,313 shares in the last quarter. Finally, Magellan Asset Management Ltd increased its holdings in Colgate-Palmolive by 4,162.6% in the 4th quarter. Magellan Asset Management Ltd now owns 2,016,290 shares of the company’s stock valued at $160,718,000 after buying an additional 1,968,988 shares during the period. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Stock Down 1.2 %

CL stock opened at $101.98 on Friday. The stock has a 50-day simple moving average of $102.61 and a two-hundred day simple moving average of $95.65. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 16.90. Colgate-Palmolive has a twelve month low of $67.62 and a twelve month high of $109.30. The firm has a market capitalization of $83.67 billion, a PE ratio of 32.27, a PEG ratio of 3.72 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, July 26th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. The company had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5 billion. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. Colgate-Palmolive’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.77 earnings per share. On average, equities analysts predict that Colgate-Palmolive will post 3.57 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, October 18th. This represents a $2.00 annualized dividend and a dividend yield of 1.96%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 63.29%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CL. Sanford C. Bernstein upped their price target on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the stock a “market perform” rating in a report on Tuesday, July 30th. HSBC reaffirmed a “hold” rating on shares of Colgate-Palmolive in a research note on Friday, July 26th. UBS Group boosted their target price 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. Evercore ISI boosted their price target on Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Finally, Morgan Stanley increased their price objective on Colgate-Palmolive from $103.00 to $111.00 and gave the company an “overweight” rating in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Colgate-Palmolive currently has an average rating of “Moderate Buy” and an average target price of $102.79.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, insider Sally Massey sold 15,850 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total value of $1,636,988.00. Following the transaction, the insider now directly owns 13,942 shares of the company’s stock, valued at approximately $1,439,929.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Sally Massey sold 15,850 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the completion of the transaction, the insider now owns 13,942 shares in the company, valued at $1,439,929.76. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Martina Hundmejean sold 2,313 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was 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 $1,220,874.30. The disclosure for this sale can be found here. Insiders have sold 43,490 shares of company stock worth $4,486,063 over the last ninety days. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Profile

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.