Confluence Investment Management LLC Has $121.91 Million Stock Holdings in Colgate-Palmolive (NYSE:CL)

Confluence Investment Management LLC trimmed its position in Colgate-Palmolive (NYSE:CL) by 0.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,340,946 shares of the company’s stock after selling 11,928 shares during the period. Colgate-Palmolive comprises approximately 1.7% of Confluence Investment Management LLC’s holdings, making the stock its 19th largest holding. Confluence Investment Management LLC’s holdings in Colgate-Palmolive were worth $121,905,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gordian Advisors LLC bought a new position in Colgate-Palmolive in the third quarter valued at about $602,000. Carrera Capital Advisors boosted its stake in shares of Colgate-Palmolive by 23.1% in the 3rd quarter. Carrera Capital Advisors now owns 39,170 shares of the company’s stock valued at $4,066,000 after purchasing an additional 7,353 shares during the last quarter. Vontobel Holding Ltd. grew its position in shares of Colgate-Palmolive by 224.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 795,938 shares of the company’s stock worth $82,626,000 after buying an additional 550,750 shares during the period. Handelsbanken Fonder AB raised its stake in shares of Colgate-Palmolive by 10.9% during the third quarter. Handelsbanken Fonder AB now owns 332,972 shares of the company’s stock worth $34,566,000 after buying an additional 32,624 shares during the last quarter. Finally, Barclays PLC lifted its holdings in Colgate-Palmolive by 38.7% in the third quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock valued at $793,542,000 after buying an additional 2,132,747 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Down 0.5 %

Colgate-Palmolive stock traded down $0.49 during midday trading on Thursday, reaching $90.42. The stock had a trading volume of 748,185 shares, compared to its average volume of 4,373,890. The stock has a market capitalization of $73.87 billion, a P/E ratio of 25.91, a price-to-earnings-growth ratio of 3.31 and a beta of 0.43. The firm’s fifty day simple moving average is $93.64 and its 200-day simple moving average is $98.52. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04. Colgate-Palmolive has a 1-year low of $79.52 and a 1-year high of $109.30.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st will be issued a $0.50 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.21%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 57.31%.

Wall Street Analyst Weigh In

CL has been the subject of a number of analyst reports. StockNews.com raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Stifel Nicolaus downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their price objective for the company from $105.00 to $101.00 in a report on Monday, October 28th. Piper Sandler started coverage on Colgate-Palmolive in a report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 target price on the stock. Finally, TD Cowen lowered their price target on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $105.11.

Insider Transactions at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total value of $4,273,535.10. Following the sale, the chief financial officer now owns 36,726 shares of the company’s stock, valued at approximately $3,456,283.86. The trade was a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is currently owned by insiders.

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.