Confluence Investment Management LLC Sells 14,465 Shares of Colgate-Palmolive Company $CL

Confluence Investment Management LLC reduced its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 1.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,294,534 shares of the company’s stock after selling 14,465 shares during the quarter. Colgate-Palmolive makes up about 1.5% of Confluence Investment Management LLC’s holdings, making the stock its 26th biggest holding. Confluence Investment Management LLC’s holdings in Colgate-Palmolive were worth $103,485,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CL. Cidel Asset Management Inc. raised its stake in Colgate-Palmolive by 13.6% in the second quarter. Cidel Asset Management Inc. now owns 329,060 shares of the company’s stock worth $29,912,000 after buying an additional 39,413 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Colgate-Palmolive by 18.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 30,273 shares of the company’s stock worth $2,752,000 after acquiring an additional 4,738 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Colgate-Palmolive by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock valued at $7,522,129,000 after purchasing an additional 993,432 shares during the period. Welch Group LLC boosted its position in shares of Colgate-Palmolive by 1.5% during the second quarter. Welch Group LLC now owns 665,041 shares of the company’s stock valued at $60,452,000 after purchasing an additional 9,689 shares in the last quarter. Finally, Arista Wealth Management LLC purchased a new stake in Colgate-Palmolive in the second quarter worth $571,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Up 0.8%

Shares of Colgate-Palmolive stock opened at $78.96 on Tuesday. The company has a 50-day simple moving average of $78.36 and a two-hundred day simple moving average of $82.94. The stock has a market capitalization of $63.65 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 5.58 and a beta of 0.30. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $100.18. The company has a debt-to-equity ratio of 5.90, a quick ratio of 0.60 and a current ratio of 0.93.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.02. Colgate-Palmolive had a net margin of 14.47% and a return on equity of 333.39%. The company had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same quarter last year, the firm earned $0.91 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Wednesday, January 21st will be paid a $0.52 dividend. The ex-dividend date is Wednesday, January 21st. This represents a $2.08 annualized dividend and a dividend yield of 2.6%. Colgate-Palmolive’s payout ratio is currently 58.26%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Piper Sandler started coverage on Colgate-Palmolive in a research report on Friday, October 3rd. They set a “neutral” rating and a $84.00 price objective for the company. Argus reiterated a “hold” rating on shares of Colgate-Palmolive in a research note on Thursday, December 11th. The Goldman Sachs Group dropped their price objective on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, October 2nd. Evercore ISI decreased their target price on shares of Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Finally, Morgan Stanley dropped their price target on Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating on the stock in a research report on Monday, November 3rd. Ten research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.81.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.