Colgate-Palmolive (NYSE:CL) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its position in shares of Colgate-Palmolive (NYSE:CL) by 6.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,922 shares of the company’s stock after selling 6,101 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Colgate-Palmolive were worth $7,633,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Swedbank AB lifted its holdings in Colgate-Palmolive by 1.4% in the third quarter. Swedbank AB now owns 2,950,059 shares of the company’s stock valued at $306,246,000 after acquiring an additional 40,324 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Colgate-Palmolive by 36.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,689 shares of the company’s stock valued at $1,525,000 after purchasing an additional 3,960 shares during the period. Pacer Advisors Inc. boosted its holdings in Colgate-Palmolive by 18.8% during the third quarter. Pacer Advisors Inc. now owns 111,272 shares of the company’s stock worth $11,551,000 after buying an additional 17,623 shares in the last quarter. Meridian Wealth Management LLC acquired a new position in Colgate-Palmolive during the third quarter worth about $1,133,000. Finally, Great Valley Advisor Group Inc. increased its holdings in Colgate-Palmolive by 76.2% in the third quarter. Great Valley Advisor Group Inc. now owns 14,387 shares of the company’s stock valued at $1,494,000 after buying an additional 6,224 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CL has been the topic of a number of research reports. Barclays lowered their price target on Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Piper Sandler lowered their target price on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. TD Cowen cut their price target on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Raymond James reissued an “outperform” rating and issued a $105.00 price objective (down from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $101.00 target price on shares of Colgate-Palmolive in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $101.72.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $90.30 on Monday. The stock has a fifty day moving average price of $89.33 and a 200 day moving average price of $94.07. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. Colgate-Palmolive has a 52 week low of $85.32 and a 52 week high of $109.30. The firm has a market capitalization of $73.28 billion, a P/E ratio of 25.65, a PEG ratio of 4.20 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, January 31st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.01. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. During the same quarter in the prior year, the company posted $0.87 earnings per share. Equities research analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive declared that its Board of Directors has authorized a stock repurchase program on Thursday, March 20th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 6.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Thursday, April 17th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s dividend payout ratio (DPR) is 56.82%.

Colgate-Palmolive Company 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.