Thrivent Financial for Lutherans Grows Position in Colgate-Palmolive (NYSE:CL)

Thrivent Financial for Lutherans boosted its stake in shares of Colgate-Palmolive (NYSE:CL) by 39.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 90,023 shares of the company’s stock after acquiring an additional 25,645 shares during the period. Thrivent Financial for Lutherans’ holdings in Colgate-Palmolive were worth $9,345,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of CL. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Colgate-Palmolive in the 2nd quarter worth about $25,000. Continuum Advisory LLC raised its holdings in shares of Colgate-Palmolive by 46.5% in the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after buying an additional 125 shares during the period. Reston Wealth Management LLC bought a new stake in shares of Colgate-Palmolive during the 3rd quarter worth approximately $42,000. Capital Performance Advisors LLP bought a new position in Colgate-Palmolive in the 3rd quarter valued at $53,000. Finally, Gradient Investments LLC increased its stake in Colgate-Palmolive by 150.4% in the 2nd quarter. Gradient Investments LLC now owns 666 shares of the company’s stock worth $65,000 after buying an additional 400 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CL has been the topic of several research reports. UBS Group raised their price objective on Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Wells Fargo & Company reduced their price target on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a report on Monday, October 28th. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a research note on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Sanford C. Bernstein lifted their price target on Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $105.11.

Insider Buying and Selling

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total value of $4,273,535.10. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is owned by corporate insiders.

Colgate-Palmolive Trading Up 0.5 %

NYSE:CL opened at $94.37 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46. The firm has a fifty day simple moving average of $98.32 and a 200-day simple moving average of $98.50. The company has a market capitalization of $77.10 billion, a P/E ratio of 27.04, a PEG ratio of 3.34 and a beta of 0.42. Colgate-Palmolive has a 12 month low of $75.50 and a 12 month high of $109.30.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were given a $0.50 dividend. The ex-dividend date was Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a yield of 2.12%. 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.