Colgate-Palmolive Company $CL Shares Purchased by Confluence Investment Management LLC

Confluence Investment Management LLC raised its position in Colgate-Palmolive Company (NYSE:CL) by 20.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,460,902 shares of the company’s stock after purchasing an additional 251,530 shares during the quarter. Colgate-Palmolive accounts for approximately 1.9% of Confluence Investment Management LLC’s portfolio, making the stock its 9th largest position. Confluence Investment Management LLC’s holdings in Colgate-Palmolive were worth $124,644,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CL. Cim Investment Management Inc. lifted its stake in Colgate-Palmolive by 19.5% during the 2nd quarter. Cim Investment Management Inc. now owns 9,359 shares of the company’s stock worth $858,000 after acquiring an additional 1,528 shares in the last quarter. QRG Capital Management Inc. increased its stake in Colgate-Palmolive by 466.3% during the second quarter. QRG Capital Management Inc. now owns 215,380 shares of the company’s stock worth $19,746,000 after purchasing an additional 177,350 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in shares of Colgate-Palmolive by 257.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 69,161 shares of the company’s stock worth $6,341,000 after purchasing an additional 49,803 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Colgate-Palmolive by 266.5% during the second quarter. Envestnet Asset Management Inc. now owns 4,146,337 shares of the company’s stock worth $380,136,000 after purchasing an additional 3,014,860 shares in the last quarter. Finally, Andra AP fonden purchased a new position in shares of Colgate-Palmolive in the second quarter valued at approximately $18,214,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Down 0.6%

Colgate-Palmolive stock traded down $0.54 during trading on Thursday, reaching $84.78. The stock had a trading volume of 1,438,092 shares, compared to its average volume of 5,705,399. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The stock has a market cap of $67.58 billion, a PE ratio of 33.63, a P/E/G ratio of 4.03 and a beta of 0.33. The business has a 50 day moving average price of $89.83 and a 200 day moving average price of $88.84.

Colgate-Palmolive (NYSE:CL) last released 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. The business had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.92 EPS. On average, analysts predict that Colgate-Palmolive Company will post 3.87 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 20th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, October 20th. Colgate-Palmolive’s dividend payout ratio is 84.13%.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, CEO Noel Wallace sold 161,021 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the sale, the chief executive officer owned 362,231 shares of the company’s stock, valued at approximately $33,296,273.52. This trade represents a 30.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Panagiotis Tsourapas sold 10,000 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $92.05, for a total transaction of $920,500.00. Following the completion of the transaction, the chief operating officer owned 64,901 shares of the company’s stock, valued at approximately $5,974,137.05. The trade was a 13.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 175,191 shares of company stock worth $16,110,903 over the last three months. Insiders own 0.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CL shares. Weiss Ratings raised shares of Colgate-Palmolive from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, September 16th. JPMorgan Chase & Co. dropped their price target on shares of Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $104.00 price objective on shares of Colgate-Palmolive in a research report on Tuesday, September 8th. Jefferies Financial Group reiterated a “hold” rating on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Finally, UBS Group lifted their target price on Colgate-Palmolive from $106.00 to $109.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Thirteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus target price of $98.94.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company (NYSE: CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwashes, body washes, deodorants, soaps, household cleaning products and pet food and treats.

The company markets many of its products under well-known brands, including Colgate, Palmolive, elmex, meridol, Protex, Softsoap, Ajax, Irish Spring, Speed Stick, Tom’s of Maine and Hill’s Science Diet.