Confluence Investment Management LLC Sells 12,237 Shares of Colgate-Palmolive (NYSE:CL)

Confluence Investment Management LLC lessened its holdings in Colgate-Palmolive (NYSE:CL) by 0.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,493,764 shares of the company’s stock after selling 12,237 shares during the period. Colgate-Palmolive comprises 1.7% of Confluence Investment Management LLC’s holdings, making the stock its 20th biggest holding. Confluence Investment Management LLC’s holdings in Colgate-Palmolive were worth $115,080,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CL. Tucker Asset Management LLC bought a new position in Colgate-Palmolive in the 1st quarter valued at approximately $27,000. Register Financial Advisors LLC acquired a new position in shares of Colgate-Palmolive during the first quarter worth $30,000. Kepos Capital LP bought a new position in shares of Colgate-Palmolive in the 4th quarter valued at $40,000. Carmel Capital Partners LLC acquired a new stake in shares of Colgate-Palmolive during the 1st quarter valued at $42,000. Finally, Newbridge Financial Services Group Inc. grew its position in Colgate-Palmolive by 108.7% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 578 shares of the company’s stock worth $43,000 after acquiring an additional 301 shares during the last quarter. Institutional investors own 78.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CL shares. Barclays increased their target price on Colgate-Palmolive from $77.00 to $81.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 1st. Royal Bank of Canada reiterated a “sector perform” rating and set a $83.00 target price on shares of Colgate-Palmolive in a research report on Monday, July 31st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Colgate-Palmolive from $88.00 to $91.00 and gave the stock a “buy” rating in a report on Monday, July 31st. Finally, StockNews.com downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Monday. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.33.

Insider Transactions at Colgate-Palmolive

In related news, VP Gregory Malcolm sold 10,493 shares of the stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $73.90, for a total transaction of $775,432.70. Following the transaction, the vice president now directly owns 7,852 shares of the company’s stock, valued at $580,262.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider John W. Kooyman sold 21,677 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $77.69, for a total transaction of $1,684,086.13. Following the transaction, the insider now directly owns 6,384 shares of the company’s stock, valued at $495,972.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gregory Malcolm sold 10,493 shares of Colgate-Palmolive stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $73.90, for a total transaction of $775,432.70. Following the completion of the sale, the vice president now directly owns 7,852 shares of the company’s stock, valued at approximately $580,262.80. The disclosure for this sale can be found here. Insiders sold a total of 105,501 shares of company stock valued at $7,838,332 in the last quarter. 0.34% of the stock is currently owned by company insiders.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $72.84 on Thursday. The business has a 50-day moving average price of $75.26 and a two-hundred day moving average price of $75.85. Colgate-Palmolive has a 1-year low of $67.84 and a 1-year high of $82.09. The company has a current ratio of 1.17, a quick ratio of 0.73 and a debt-to-equity ratio of 28.43. The company has a market cap of $60.22 billion, a P/E ratio of 40.47, a PEG ratio of 3.13 and a beta of 0.50.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, July 28th. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.75 by $0.02. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 8.02%. The business had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter last year, the firm posted $0.72 earnings per share. The firm’s revenue was up 7.5% on a year-over-year basis. As a group, analysts anticipate that Colgate-Palmolive will post 3.17 EPS for the current year.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company 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.