Confluence Wealth Services Inc. Purchases Shares of 5,700 Colgate-Palmolive Company (NYSE:CL)

Confluence Wealth Services Inc. acquired a new stake in Colgate-Palmolive Company (NYSE:CL - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,700 shares of the company's stock, valued at approximately $535,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Colgate-Palmolive in the 4th quarter valued at about $912,375,000. Diamond Hill Capital Management Inc. purchased a new position in Colgate-Palmolive during the fourth quarter valued at approximately $348,718,000. AMF Tjanstepension AB raised its stake in Colgate-Palmolive by 1,088.8% in the fourth quarter. AMF Tjanstepension AB now owns 2,569,394 shares of the company's stock worth $233,584,000 after buying an additional 2,353,268 shares in the last quarter. Deutsche Bank AG lifted its holdings in Colgate-Palmolive by 35.6% during the fourth quarter. Deutsche Bank AG now owns 6,922,994 shares of the company's stock worth $629,369,000 after buying an additional 1,816,865 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Colgate-Palmolive during the 4th quarter valued at $132,405,000. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL traded up $1.20 on Tuesday, hitting $92.10. 6,022,842 shares of the company were exchanged, compared to its average volume of 4,795,325. The firm has a market capitalization of $74.64 billion, a P/E ratio of 26.02, a price-to-earnings-growth ratio of 4.83 and a beta of 0.37. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 8.96. Colgate-Palmolive Company has a 1-year low of $85.32 and a 1-year high of $109.30. The stock's 50 day moving average price is $90.78 and its 200 day moving average price is $90.55.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.86 by $0.05. The company had revenue of $4.91 billion during the quarter, compared to analysts' expectations of $4.92 billion. Colgate-Palmolive had a return on equity of 461.04% and a net margin of 14.52%. The firm's revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 EPS. Sell-side analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive announced that its Board of Directors has approved a stock repurchase plan on Thursday, March 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to purchase up to 6.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.08 annualized dividend and a yield of 2.26%. Colgate-Palmolive's dividend payout ratio (DPR) is presently 58.76%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CL shares. Wells Fargo & Company boosted their price target on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 2nd. Piper Sandler decreased their price target on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. Wall Street Zen cut shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. boosted their price objective on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. Finally, Citigroup increased their target price on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $101.69.

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.