Thrivent Financial for Lutherans Raises Stock Holdings in Colgate-Palmolive (NYSE:CL)

Thrivent Financial for Lutherans grew its holdings in Colgate-Palmolive (NYSE:CL - Free Report) by 39.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

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

Colgate-Palmolive Stock Performance

CL stock traded up $0.66 during trading hours on Friday, reaching $94.91. The stock had a trading volume of 3,538,918 shares, compared to its average volume of 4,383,245. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68. The stock has a 50-day simple moving average of $98.32 and a 200 day simple moving average of $98.50. The stock has a market capitalization of $77.54 billion, a PE ratio of 27.04, a price-to-earnings-growth ratio of 3.34 and a beta of 0.42. Colgate-Palmolive has a fifty-two week low of $75.50 and a fifty-two week high of $109.30.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.00 annualized dividend and a dividend yield of 2.11%. Colgate-Palmolive's payout ratio is 57.31%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CL. Barclays increased their price objective on Colgate-Palmolive from $91.00 to $96.00 and gave the company an "equal weight" rating in a report on Monday, July 29th. Sanford C. Bernstein upped their price target on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the stock a "market perform" rating in a research note on Tuesday, July 30th. HSBC reaffirmed a "hold" rating on shares of Colgate-Palmolive in a research note on Friday, July 26th. Hsbc Global Res downgraded shares of Colgate-Palmolive from a "strong-buy" rating to a "hold" rating in a report on Friday, July 26th. Finally, Piper Sandler initiated coverage on Colgate-Palmolive in a research report on Tuesday, September 24th. They set an "overweight" rating and a $121.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $105.11.

Insiders Place Their Bets

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction on 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 transaction, the chief financial officer now directly owns 36,726 shares in the company, valued at $3,456,283.86. This trade represents a 55.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.34% of the company's stock.

About Colgate-Palmolive

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.