First Financial Corp IN Sells 2,730 Shares of Colgate-Palmolive (NYSE:CL)

First Financial Corp IN reduced its stake in shares of Colgate-Palmolive (NYSE:CLFree Report) by 52.0% in the first quarter, HoldingsChannel.com reports. The firm owned 2,518 shares of the company’s stock after selling 2,730 shares during the period. First Financial Corp IN’s holdings in Colgate-Palmolive were worth $227,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dark Forest Capital Management LP boosted its stake in shares of Colgate-Palmolive by 84.4% in the 3rd quarter. Dark Forest Capital Management LP now owns 9,002 shares of the company’s stock worth $640,000 after buying an additional 4,121 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Colgate-Palmolive by 76.7% in the 3rd quarter. Federated Hermes Inc. now owns 43,703 shares of the company’s stock worth $3,108,000 after buying an additional 18,970 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Colgate-Palmolive by 142.0% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 496 shares of the company’s stock worth $35,000 after buying an additional 291 shares during the last quarter. Vinva Investment Management Ltd boosted its stake in shares of Colgate-Palmolive by 9.1% in the 3rd quarter. Vinva Investment Management Ltd now owns 37,534 shares of the company’s stock worth $2,677,000 after buying an additional 3,117 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in shares of Colgate-Palmolive by 0.4% in the 3rd quarter. Treasurer of the State of North Carolina now owns 371,243 shares of the company’s stock worth $26,399,000 after buying an additional 1,350 shares during the last quarter. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Price Performance

Shares of Colgate-Palmolive stock traded down $0.30 during trading on Tuesday, hitting $98.69. The stock had a trading volume of 6,376,834 shares, compared to its average volume of 4,468,887. The firm has a market cap of $80.97 billion, a price-to-earnings ratio of 31.33, a P/E/G ratio of 3.58 and a beta of 0.39. Colgate-Palmolive has a 12 month low of $67.62 and a 12 month high of $99.08. The business’s 50-day moving average is $92.97 and its 200 day moving average is $87.07. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 13.21.

Colgate-Palmolive (NYSE:CLGet Free Report) last released its quarterly earnings results on Friday, April 26th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04. The firm had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.96 billion. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.73 earnings per share. As a group, sell-side analysts anticipate that Colgate-Palmolive will post 3.53 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $2.00 annualized dividend and a dividend yield of 2.03%. Colgate-Palmolive’s payout ratio is currently 63.29%.

Insider Transactions at Colgate-Palmolive

In related news, insider Sally Massey sold 12,226 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $94.06, for a total value of $1,149,977.56. Following the transaction, the insider now owns 13,924 shares of the company’s stock, valued at $1,309,691.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider John W. Kooyman sold 3,497 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total value of $326,864.59. Following the transaction, the insider now owns 3,181 shares of the company’s stock, valued at $297,328.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Sally Massey sold 12,226 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the sale, the insider now owns 13,924 shares of the company’s stock, valued at $1,309,691.44. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on CL shares. Argus upped their price objective on Colgate-Palmolive from $97.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Evercore ISI upped their price objective on Colgate-Palmolive from $90.00 to $96.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Barclays upped their price objective on Colgate-Palmolive from $84.00 to $85.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 30th. Morgan Stanley upped their price objective on Colgate-Palmolive from $101.00 to $103.00 and gave the company an “overweight” rating in a research note on Tuesday, May 28th. Finally, Royal Bank of Canada upped their price objective on Colgate-Palmolive from $88.00 to $95.00 and gave the company a “sector perform” rating in a research note on Monday, April 29th. Three 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 currently has an average rating of “Moderate Buy” and a consensus target price of $93.83.

Get Our Latest Stock Report on CL

About Colgate-Palmolive

(Free Report)

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.

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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