Confluence Investment Management LLC Decreases Stock Holdings in Colgate-Palmolive Company $CL

Confluence Investment Management LLC reduced its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 3.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,209,372 shares of the company's stock after selling 40,718 shares during the quarter. Colgate-Palmolive makes up about 1.7% of Confluence Investment Management LLC's holdings, making the stock its 18th largest position. Confluence Investment Management LLC owned about 0.15% of Colgate-Palmolive worth $110,875,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Colgate-Palmolive during the 4th quarter valued at $861,670,000. Bank of New York Mellon Corp boosted its holdings in shares of Colgate-Palmolive by 172.5% in the 1st quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company's stock worth $1,067,211,000 after buying an additional 7,927,238 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Colgate-Palmolive by 8,040.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company's stock valued at $380,666,000 after buying an additional 4,598,789 shares during the period. Balyasny Asset Management L.P. purchased a new stake in Colgate-Palmolive during the fourth quarter worth about $236,682,000. Finally, Deutsche Bank AG raised its position in Colgate-Palmolive by 33.9% in the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company's stock worth $857,040,000 after acquiring an additional 2,746,920 shares during the period. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Stock Down 1.6%

CL opened at $89.86 on Tuesday. The company has a 50 day moving average of $90.96 and a 200 day moving average of $89.54. The company has a market cap of $71.91 billion, a PE ratio of 35.66, a price-to-earnings-growth ratio of 4.80 and a beta of 0.33. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The company has a current ratio of 0.45, a quick ratio of 0.30 and a debt-to-equity ratio of 16.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.04. The business had revenue of $5.36 billion for 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 business's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 EPS. On average, sell-side analysts expect that Colgate-Palmolive Company will post 3.82 EPS for the current year.

Colgate-Palmolive Dividend Announcement

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

Wall Street Analysts Forecast Growth

CL has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $101.00 target price on shares of Colgate-Palmolive in a research note on Monday. The Goldman Sachs Group reiterated a "buy" rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. Barclays increased their price objective on Colgate-Palmolive from $80.00 to $87.00 and gave the company an "equal weight" rating in a report on Tuesday, July 21st. Piper Sandler raised their target price on Colgate-Palmolive from $92.00 to $96.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Finally, Royal Bank Of Canada upped their price target on Colgate-Palmolive from $102.00 to $104.00 and gave the company an "outperform" rating in a research report on Monday. Twelve equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $99.00.

Colgate-Palmolive 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.

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