Independence Bank of Kentucky Grows Stock Position in Colgate-Palmolive (NYSE:CL)

Independence Bank of Kentucky boosted its position in shares of Colgate-Palmolive (NYSE:CL) by 122.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,310 shares of the company’s stock after buying an additional 2,375 shares during the quarter. Independence Bank of Kentucky’s holdings in Colgate-Palmolive were worth $388,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of CL. Vest Financial LLC boosted its stake in shares of Colgate-Palmolive by 25.1% during the 4th quarter. Vest Financial LLC now owns 370,071 shares of the company’s stock worth $29,498,000 after purchasing an additional 74,337 shares during the period. Central Bank & Trust Co. grew its stake in shares of Colgate-Palmolive by 22.1% during the fourth quarter. Central Bank & Trust Co. now owns 1,383 shares of the company’s stock valued at $110,000 after buying an additional 250 shares during the last quarter. Dynamic Advisor Solutions LLC raised its holdings in shares of Colgate-Palmolive by 9.2% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 10,808 shares of the company’s stock worth $864,000 after buying an additional 910 shares during the period. Sarasin & Partners LLP lifted its stake in shares of Colgate-Palmolive by 1.2% during the 4th quarter. Sarasin & Partners LLP now owns 4,053,634 shares of the company’s stock worth $323,115,000 after acquiring an additional 49,980 shares during the last quarter. Finally, Cornerstone Wealth Management LLC boosted its holdings in Colgate-Palmolive by 2.5% during the 4th quarter. Cornerstone Wealth Management LLC now owns 7,170 shares of the company’s stock valued at $571,000 after acquiring an additional 172 shares during the period. Institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

CL has been the topic of a number of recent analyst reports. Argus increased their target price on Colgate-Palmolive from $97.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Barclays raised their price target on shares of Colgate-Palmolive from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. Citigroup boosted their price objective on shares of Colgate-Palmolive from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Evercore ISI raised their target price on shares of Colgate-Palmolive from $90.00 to $96.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Finally, Royal Bank of Canada boosted their price target on Colgate-Palmolive from $88.00 to $95.00 and gave the company a “sector perform” rating in a report on Monday, April 29th. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $93.83.

Colgate-Palmolive Trading Down 1.2 %

Shares of NYSE CL opened at $97.04 on Friday. The business has a fifty day moving average price of $93.87 and a 200 day moving average price of $87.57. Colgate-Palmolive has a 1-year low of $67.62 and a 1-year high of $99.08. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.06 and a quick ratio of 0.70. The stock has a market capitalization of $79.62 billion, a P/E ratio of 30.71, a price-to-earnings-growth ratio of 3.61 and a beta of 0.39.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, April 26th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. The business had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.96 billion. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.73 earnings per share. Equities research analysts expect that Colgate-Palmolive will post 3.53 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Friday, July 19th. Colgate-Palmolive’s dividend payout ratio is currently 63.29%.

Insider Transactions at Colgate-Palmolive

In related news, insider John W. Kooyman sold 3,497 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total transaction of $326,864.59. Following the transaction, the insider now directly owns 3,181 shares in the company, valued at approximately $297,328.07. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider John W. Kooyman sold 3,497 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total value of $326,864.59. Following the completion of the transaction, the insider now directly owns 3,181 shares of the company’s stock, valued at approximately $297,328.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sally Massey sold 12,226 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the sale, the insider now directly owns 13,924 shares in the company, valued at approximately $1,309,691.44. The disclosure for this sale can be found here. 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.