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

Confluence Investment Management LLC reduced its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 0.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,308,999 shares of the company’s stock after selling 12,152 shares during the period. Colgate-Palmolive accounts for about 1.7% of Confluence Investment Management LLC’s portfolio, making the stock its 21st largest holding. Confluence Investment Management LLC’s holdings in Colgate-Palmolive were worth $118,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in CL. Price T Rowe Associates Inc. MD boosted its holdings in shares of Colgate-Palmolive by 18.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock worth $3,186,651,000 after purchasing an additional 5,269,140 shares during the last quarter. Nuveen LLC acquired a new position in Colgate-Palmolive in the first quarter valued at approximately $217,593,000. Goldman Sachs Group Inc. lifted its holdings in Colgate-Palmolive by 34.5% in the first quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company’s stock valued at $747,762,000 after acquiring an additional 2,045,191 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in Colgate-Palmolive by 45.0% in the first quarter. Diamond Hill Capital Management Inc. now owns 5,562,968 shares of the company’s stock valued at $521,250,000 after acquiring an additional 1,727,105 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Colgate-Palmolive by 10,601.7% in the first quarter. GAMMA Investing LLC now owns 1,105,379 shares of the company’s stock valued at $103,574,000 after acquiring an additional 1,095,050 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Down 0.8%

Shares of NYSE CL opened at $83.35 on Friday. The firm has a market cap of $67.37 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 4.37 and a beta of 0.35. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. Colgate-Palmolive Company has a 52-week low of $82.29 and a 52-week high of $106.26. The business’s 50 day moving average is $85.95 and its two-hundred day moving average is $89.55.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 earnings per share. Research analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.5%. Colgate-Palmolive’s dividend payout ratio is currently 58.43%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CL shares. Morgan Stanley decreased their price objective on Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating on the stock in a report on Monday, August 4th. Wells Fargo & Company decreased their price objective on Colgate-Palmolive from $88.00 to $83.00 and set an “underweight” rating on the stock in a report on Monday, August 4th. UBS Group decreased their price objective on Colgate-Palmolive from $109.00 to $106.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. Citigroup decreased their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating on the stock in a report on Monday, August 4th. Finally, JPMorgan Chase & Co. decreased their price objective on Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating on the stock in a report on Monday, August 4th. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Colgate-Palmolive has a consensus rating of “Moderate Buy” and an average price target of $98.00.

Colgate-Palmolive Company 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.