Colgate-Palmolive (NYSE:CL) Shares Purchased by Independence Bank of Kentucky

Independence Bank of Kentucky increased its stake in shares of Colgate-Palmolive (NYSE:CL) by 54.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,045 shares of the company’s stock after acquiring an additional 725 shares during the quarter. Independence Bank of Kentucky’s holdings in Colgate-Palmolive were worth $158,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its stake in Colgate-Palmolive by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,444,508 shares of the company’s stock worth $185,376,000 after buying an additional 94,837 shares during the last quarter. Covestor Ltd boosted its stake in shares of Colgate-Palmolive by 71.9% during the first quarter. Covestor Ltd now owns 2,451 shares of the company’s stock worth $186,000 after buying an additional 1,025 shares during the period. Mackenzie Financial Corp grew its holdings in shares of Colgate-Palmolive by 8.5% during the first quarter. Mackenzie Financial Corp now owns 1,882,813 shares of the company’s stock worth $142,774,000 after buying an additional 146,936 shares during the last quarter. First Western Trust Bank acquired a new position in Colgate-Palmolive in the 1st quarter valued at about $569,000. Finally, Wsfs Capital Management LLC acquired a new stake in shares of Colgate-Palmolive in the 1st quarter worth $288,000. 78.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on CL. Barclays upped their price target on Colgate-Palmolive from $77.00 to $81.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 1st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Colgate-Palmolive from $88.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, July 31st. Royal Bank of Canada restated a “sector perform” rating and set a $83.00 price objective on shares of Colgate-Palmolive in a research report on Monday, July 31st. Finally, StockNews.com downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Colgate-Palmolive has a consensus rating of “Moderate Buy” and a consensus target price of $85.33.

Insider Buying and Selling at Colgate-Palmolive

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

Colgate-Palmolive Stock Down 0.4 %

NYSE CL opened at $73.17 on Friday. The stock has a market cap of $60.49 billion, a PE ratio of 40.65, a P/E/G ratio of 3.10 and a beta of 0.50. The business has a 50 day moving average price of $75.11 and a two-hundred day moving average price of $75.81. The company has a quick ratio of 0.73, a current ratio of 1.17 and a debt-to-equity ratio of 28.43. Colgate-Palmolive has a fifty-two week low of $67.84 and a fifty-two week high of $82.09.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, July 28th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The firm had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.70 billion. Colgate-Palmolive had a net margin of 8.02% and a return on equity of 386.76%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 EPS. As a group, sell-side analysts predict that Colgate-Palmolive will post 3.17 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Monday, October 23rd will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Friday, October 20th. Colgate-Palmolive’s payout ratio is currently 106.67%.

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.