OLD National Bancorp IN decreased its position in Colgate-Palmolive Co. (NYSE:CL) by 3.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,710 shares of the company’s stock after selling 415 shares during the period. OLD National Bancorp IN’s holdings in Colgate-Palmolive were worth $868,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its stake in Colgate-Palmolive by 200.6% in the third quarter. Quadrant Capital Group LLC now owns 1,485 shares of the company’s stock worth $103,000 after buying an additional 991 shares in the last quarter. Krilogy Financial LLC boosted its stake in Colgate-Palmolive by 3.2% in the second quarter. Krilogy Financial LLC now owns 1,504 shares of the company’s stock worth $110,000 after buying an additional 46 shares in the last quarter. Concannon Wealth Management LLC boosted its stake in Colgate-Palmolive by 33.8% in the third quarter. Concannon Wealth Management LLC now owns 1,605 shares of the company’s stock worth $119,000 after buying an additional 405 shares in the last quarter. Tompkins Financial Corp boosted its stake in Colgate-Palmolive by 121.1% in the second quarter. Tompkins Financial Corp now owns 1,698 shares of the company’s stock worth $124,000 after buying an additional 930 shares in the last quarter. Finally, Arcadia Investment Management Corp MI boosted its stake in Colgate-Palmolive by 28.6% in the second quarter. Arcadia Investment Management Corp MI now owns 1,800 shares of the company’s stock worth $132,000 after buying an additional 400 shares in the last quarter. 73.12% of the stock is owned by institutional investors and hedge funds.
Shares of Colgate-Palmolive Co. (NYSE:CL) opened at 66.53 on Friday. The stock has a market capitalization of $59.13 billion, a P/E ratio of 43.51 and a beta of 0.73. The stock has a 50 day moving average of $69.86 and a 200-day moving average of $72.23. Colgate-Palmolive Co. has a 1-year low of $61.40 and a 1-year high of $75.38.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Thursday, October 27th. The company reported $0.73 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.73. The business earned $3.87 billion during the quarter, compared to the consensus estimate of $3.94 billion. Colgate-Palmolive had a net margin of 8.96% and a return on equity of 6,924.14%. The business’s revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.80 EPS. Equities research analysts predict that Colgate-Palmolive Co. will post $2.82 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Monday, October 24th were issued a dividend of $0.39 per share. The ex-dividend date was Thursday, October 20th. This represents a $1.56 annualized dividend and a yield of 2.34%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 101.96%.
A number of analysts have recently commented on the stock. Bank of America Corp. raised shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $70.86 to $80.00 in a research note on Monday, September 12th. Citigroup Inc. boosted their price target on shares of Colgate-Palmolive from $82.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. KeyCorp assumed coverage on shares of Colgate-Palmolive in a research report on Thursday, September 8th. They set a “sector weight” rating on the stock. BNP Paribas lowered shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating and set a $76.00 price target on the stock. in a research report on Friday, July 29th. Finally, B. Riley restated a “neutral” rating and set a $78.00 price target on shares of Colgate-Palmolive in a research report on Wednesday, November 2nd. Twelve investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $76.04.
In other Colgate-Palmolive news, insider Patricia Verduin sold 3,834 shares of the firm’s stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $72.39, for a total transaction of $277,543.26. Following the completion of the transaction, the insider now directly owns 55,013 shares in the company, valued at approximately $3,982,391.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.05% of the company’s stock.
Colgate-Palmolive Company (Colgate) is a consumer products company, whose products are marketed in over 200 countries and territories throughout the world. The Company’s segments include Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through over five geographic segments, which include North America, Latin America, Europe/South Pacific, Asia and Africa/Eurasia.