OLD National Bancorp IN Sells 4,557 Shares of Colgate-Palmolive (NYSE:CL)

OLD National Bancorp IN reduced its position in shares of Colgate-Palmolive (NYSE:CL) by 24.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,178 shares of the company’s stock after selling 4,557 shares during the period. OLD National Bancorp IN’s holdings in Colgate-Palmolive were worth $1,130,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. OFI Invest Asset Management bought a new stake in shares of Colgate-Palmolive during the 3rd quarter worth $25,000. Avion Wealth boosted its holdings in shares of Colgate-Palmolive by 78.1% during the 4th quarter. Avion Wealth now owns 399 shares of the company’s stock worth $32,000 after buying an additional 175 shares during the period. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Colgate-Palmolive during the 4th quarter worth $34,000. Kayne Anderson Rudnick Investment Management LLC raised its stake in Colgate-Palmolive by 142.0% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 496 shares of the company’s stock valued at $35,000 after purchasing an additional 291 shares during the last quarter. Finally, West Branch Capital LLC raised its stake in Colgate-Palmolive by 24.0% during the 4th quarter. West Branch Capital LLC now owns 682 shares of the company’s stock valued at $54,000 after purchasing an additional 132 shares during the last quarter. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Stock Up 0.3 %

Colgate-Palmolive stock opened at $88.58 on Wednesday. The company’s 50 day simple moving average is $87.29 and its 200 day simple moving average is $81.20. Colgate-Palmolive has a fifty-two week low of $67.62 and a fifty-two week high of $90.37. The firm has a market capitalization of $72.81 billion, a price-to-earnings ratio of 31.86, a PEG ratio of 3.27 and a beta of 0.42. The company has a debt-to-equity ratio of 8.59, a current ratio of 1.11 and a quick ratio of 0.71.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, January 26th. The company reported $0.87 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $4.89 billion. During the same quarter last year, the firm earned $0.77 EPS. Colgate-Palmolive’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Colgate-Palmolive will post 3.5 EPS for the current year.

Colgate-Palmolive Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 22nd will be paid a dividend of $0.50 per share. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, April 19th. This represents a $2.00 annualized dividend and a yield of 2.26%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 71.94%.

Insider Buying and Selling

In related news, insider Jennifer Daniels sold 61,633 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $83.93, for a total transaction of $5,172,857.69. Following the transaction, the insider now owns 57,948 shares of the company’s stock, valued at approximately $4,863,575.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Colgate-Palmolive news, insider Jennifer Daniels sold 61,633 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $83.93, for a total value of $5,172,857.69. Following the transaction, the insider now owns 57,948 shares of the company’s stock, valued at $4,863,575.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Noel R. Wallace sold 50,000 shares of Colgate-Palmolive stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $83.15, for a total transaction of $4,157,500.00. Following the completion of the transaction, the chief executive officer now directly owns 274,179 shares in the company, valued at approximately $22,797,983.85. The disclosure for this sale can be found here. Insiders have sold 232,371 shares of company stock valued at $19,505,099 in the last 90 days. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Raymond James upgraded shares of Colgate-Palmolive from a “market perform” rating to an “outperform” rating and set a $91.00 target price for the company in a research note on Monday, January 29th. Evercore ISI raised their price objective on shares of Colgate-Palmolive from $90.00 to $96.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Wells Fargo & Company raised their price objective on shares of Colgate-Palmolive from $80.00 to $88.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Citigroup raised 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. Finally, The Goldman Sachs Group began coverage on shares of Colgate-Palmolive in a research report on Friday, March 1st. They issued a “buy” rating and a $93.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average price target of $89.50.

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.