Confluence Investment Management LLC Sells 40,718 Shares of Colgate-Palmolive Company $CL

Confluence Investment Management LLC decreased its position in shares of Colgate-Palmolive Company (NYSE:CL) by 3.3% during the second quarter, HoldingsChannel reports. The firm owned 1,209,372 shares of the company’s stock after selling 40,718 shares during the period. Colgate-Palmolive makes up approximately 1.7% of Confluence Investment Management LLC’s holdings, making the stock its 18th biggest holding. Confluence Investment Management LLC’s holdings in Colgate-Palmolive were worth $110,875,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CL. HighPoint Advisor Group LLC boosted its position in Colgate-Palmolive by 0.7% during the fourth quarter. HighPoint Advisor Group LLC now owns 15,877 shares of the company’s stock valued at $1,255,000 after buying an additional 109 shares during the period. Clear Harbor Asset Management LLC raised its holdings in shares of Colgate-Palmolive by 2.6% during the fourth quarter. Clear Harbor Asset Management LLC now owns 4,503 shares of the company’s stock valued at $356,000 after acquiring an additional 113 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its position in shares of Colgate-Palmolive by 0.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,506 shares of the company’s stock worth $1,225,000 after purchasing an additional 114 shares during the period. Gould Capital LLC boosted its position in Colgate-Palmolive by 38.7% during the 1st quarter. Gould Capital LLC now owns 412 shares of the company’s stock valued at $35,000 after acquiring an additional 115 shares in the last quarter. Finally, Sunpointe LLC boosted its position in shares of Colgate-Palmolive by 4.0% during the fourth quarter. Sunpointe LLC now owns 3,056 shares of the company’s stock valued at $241,000 after purchasing an additional 117 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CL has been the topic of a number of recent research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Colgate-Palmolive in a report on Friday. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Colgate-Palmolive in a report on Friday, May 1st. Sanford C. Bernstein began coverage on Colgate-Palmolive in a report on Thursday, June 11th. They issued a “market perform” rating and a $96.00 target price on the stock. Bank of America dropped their price target on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. Finally, JPMorgan Chase & Co. cut their price objective on Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating for the company in a research note on Monday. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $99.00.

Colgate-Palmolive Trading Down 1.6%

Shares of Colgate-Palmolive stock opened at $89.86 on Tuesday. The firm has a market cap of $71.91 billion, a price-to-earnings ratio of 35.66, a PEG ratio of 4.80 and a beta of 0.33. The business has a 50-day moving average price of $90.96 and a 200-day moving average price of $89.54. The company has a quick ratio of 0.30, a current ratio of 0.45 and a debt-to-equity ratio of 16.33. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The business had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.36 billion. During the same period in the prior year, the firm earned $0.92 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities research analysts anticipate that Colgate-Palmolive Company will post 3.82 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be given a dividend of $0.53 per share. The ex-dividend date is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. Colgate-Palmolive’s dividend payout ratio is 84.13%.

Colgate-Palmolive Company Profile

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.