Confluence Investment Management LLC Sells 11,928 Shares of Colgate-Palmolive (NYSE:CL)

Confluence Investment Management LLC cut its holdings in Colgate-Palmolive (NYSE:CL) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,340,946 shares of the company’s stock after selling 11,928 shares during the period. Colgate-Palmolive makes up 1.7% of Confluence Investment Management LLC’s investment portfolio, making the stock its 19th biggest holding. Confluence Investment Management LLC owned 0.16% of Colgate-Palmolive worth $121,905,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CL. Old Port Advisors lifted its stake in shares of Colgate-Palmolive by 7.0% in the fourth quarter. Old Port Advisors now owns 2,589 shares of the company’s stock worth $235,000 after buying an additional 170 shares during the last quarter. Principal Financial Group Inc. lifted its position in Colgate-Palmolive by 4.9% during the 3rd quarter. Principal Financial Group Inc. now owns 997,147 shares of the company’s stock worth $103,514,000 after acquiring an additional 46,944 shares during the last quarter. DGS Capital Management LLC boosted its holdings in Colgate-Palmolive by 35.9% during the third quarter. DGS Capital Management LLC now owns 8,625 shares of the company’s stock valued at $895,000 after acquiring an additional 2,280 shares during the period. Garde Capital Inc. boosted its holdings in Colgate-Palmolive by 19.5% during the third quarter. Garde Capital Inc. now owns 1,553 shares of the company’s stock valued at $161,000 after acquiring an additional 253 shares during the period. Finally, Peapack Gladstone Financial Corp grew its position in shares of Colgate-Palmolive by 2.4% in the third quarter. Peapack Gladstone Financial Corp now owns 50,653 shares of the company’s stock valued at $5,258,000 after purchasing an additional 1,203 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors.

Insider Transactions at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the transaction, the chief financial officer now owns 36,726 shares in the company, valued at $3,456,283.86. This represents a 55.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on CL shares. Deutsche Bank Aktiengesellschaft lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and upped their price target for the stock from $107.00 to $109.00 in a report on Monday, September 9th. Piper Sandler initiated coverage on shares of Colgate-Palmolive in a report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price objective on the stock. Stifel Nicolaus lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and cut their price objective for the company from $105.00 to $101.00 in a research report on Monday, October 28th. UBS Group lifted their target price on Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. upped their price target on Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $105.11.

Colgate-Palmolive Price Performance

Shares of CL traded down $0.49 on Thursday, hitting $90.42. The company’s stock had a trading volume of 748,185 shares, compared to its average volume of 4,373,890. The company has a market capitalization of $73.87 billion, a PE ratio of 25.91, a PEG ratio of 3.31 and a beta of 0.43. Colgate-Palmolive has a fifty-two week low of $79.52 and a fifty-two week high of $109.30. The company has a 50 day moving average price of $93.64 and a 200 day moving average price of $98.52. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68.

Colgate-Palmolive Dividend Announcement

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

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.