OLD National Bancorp IN Decreases Stock Holdings in Colgate-Palmolive (NYSE:CL)

OLD National Bancorp IN reduced its holdings in shares of Colgate-Palmolive (NYSE:CL) by 2.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,019 shares of the company’s stock after selling 255 shares during the quarter. OLD National Bancorp IN’s holdings in Colgate-Palmolive were worth $936,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Cyndeo Wealth Partners LLC boosted its holdings in shares of Colgate-Palmolive by 208.0% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 35,595 shares of the company’s stock worth $3,695,000 after buying an additional 24,037 shares during the last quarter. Revolve Wealth Partners LLC raised its position in Colgate-Palmolive by 2.4% in the third quarter. Revolve Wealth Partners LLC now owns 25,786 shares of the company’s stock worth $2,677,000 after acquiring an additional 598 shares during the period. Whitaker Myers Wealth Managers LTD. purchased a new position in Colgate-Palmolive in the third quarter valued at about $251,000. Commonwealth Equity Services LLC grew its position in shares of Colgate-Palmolive by 9.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 338,490 shares of the company’s stock valued at $35,139,000 after acquiring an additional 29,392 shares during the period. Finally, Raymond James & Associates increased its stake in shares of Colgate-Palmolive by 2.2% during the 3rd quarter. Raymond James & Associates now owns 1,105,292 shares of the company’s stock worth $114,740,000 after purchasing an additional 23,337 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Insider Activity

In related news, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total value of $240,228.18. Following the transaction, the director now owns 11,755 shares in the company, valued at $1,220,874.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Sally Massey sold 15,850 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total value of $1,636,988.00. Following the transaction, the insider now owns 13,942 shares in the company, valued at approximately $1,439,929.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the sale, the director now owns 11,755 shares of the company’s stock, valued at $1,220,874.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,490 shares of company stock valued at $4,486,063. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on CL. Jefferies Financial Group downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their price objective for the company from $103.00 to $95.00 in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $107.00 to $109.00 in a report on Monday, September 9th. Bank of America boosted their price objective on Colgate-Palmolive from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Morgan Stanley increased their target price on shares of Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Colgate-Palmolive Stock Down 1.1 %

CL opened at $99.40 on Tuesday. The business’s fifty day simple moving average is $103.39 and its 200 day simple moving average is $97.75. Colgate-Palmolive has a 52 week low of $71.46 and a 52 week high of $109.30. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 16.90. The stock has a market cap of $81.55 billion, a PE ratio of 31.46, a P/E/G ratio of 3.54 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, July 26th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. The firm had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5 billion. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.77 EPS. As a group, research analysts expect that Colgate-Palmolive will post 3.57 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.01%. Colgate-Palmolive’s payout ratio is 63.29%.

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.