Colgate-Palmolive (NYSE:CL) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN lessened its stake in Colgate-Palmolive (NYSE:CL) by 24.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,178 shares of the company’s stock after selling 4,557 shares during the quarter. OLD National Bancorp IN’s holdings in Colgate-Palmolive were worth $1,130,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CL. FMR LLC boosted its holdings in shares of Colgate-Palmolive by 27.3% in the 3rd quarter. FMR LLC now owns 5,597,742 shares of the company’s stock valued at $398,055,000 after purchasing an additional 1,199,660 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Colgate-Palmolive in the 4th quarter valued at $62,728,000. Assenagon Asset Management S.A. raised its stake in shares of Colgate-Palmolive by 92.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,436,054 shares of the company’s stock valued at $114,468,000 after acquiring an additional 688,733 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Colgate-Palmolive by 225.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 930,072 shares of the company’s stock valued at $66,137,000 after acquiring an additional 644,205 shares during the period. Finally, Bank of Nova Scotia raised its stake in shares of Colgate-Palmolive by 188.5% in the 3rd quarter. Bank of Nova Scotia now owns 883,272 shares of the company’s stock valued at $62,809,000 after acquiring an additional 577,114 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

CL opened at $88.58 on Wednesday. Colgate-Palmolive has a 1-year low of $67.62 and a 1-year high of $90.37. The company has a 50-day moving average of $87.29 and a 200-day moving average of $81.20. The company has a debt-to-equity ratio of 8.59, a quick ratio of 0.71 and a current ratio of 1.11. The company has a market capitalization of $72.81 billion, a P/E ratio of 31.86, a PEG ratio of 3.27 and a beta of 0.42.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, January 26th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. Colgate-Palmolive had a net margin of 11.82% and a return on equity of 509.75%. The business had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same period in the previous year, the business posted $0.77 EPS. The company’s quarterly revenue was up 6.9% on a year-over-year basis. Equities analysts expect that Colgate-Palmolive will post 3.5 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 22nd will be issued a $0.50 dividend. The ex-dividend date is Friday, April 19th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a dividend yield of 2.26%. Colgate-Palmolive’s payout ratio is 71.94%.

Wall Street Analyst Weigh In

CL has been the topic of a number of research reports. Raymond James raised shares of Colgate-Palmolive from a “market perform” rating to an “outperform” rating and set a $91.00 target price on the stock in a research note on Monday, January 29th. StockNews.com downgraded shares of Colgate-Palmolive from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Citigroup lifted their price target on shares of Colgate-Palmolive from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. TheStreet raised shares of Colgate-Palmolive from a “c+” rating to a “b+” rating in a research note on Friday, January 26th. Finally, Evercore ISI lifted their price target on shares of Colgate-Palmolive from $90.00 to $96.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $89.50.

Insider Activity

In other news, insider Jennifer Daniels sold 3,538 shares of Colgate-Palmolive stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $84.67, for a total value of $299,562.46. Following the completion of the transaction, the insider now directly owns 59,698 shares of the company’s stock, valued at approximately $5,054,629.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Colgate-Palmolive news, insider Jennifer Daniels sold 3,538 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $84.67, for a total transaction of $299,562.46. Following the completion of the transaction, the insider now directly owns 59,698 shares of the company’s stock, valued at approximately $5,054,629.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregory Malcolm sold 8,930 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $85.35, for a total transaction of $762,175.50. Following the transaction, the executive vice president now directly owns 8,043 shares of the company’s stock, valued at $686,470.05. The disclosure for this sale can be found here. In the last three months, insiders sold 232,371 shares of company stock valued at $19,505,099. Company insiders own 0.34% of the company’s stock.

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.