Indiana Trust & Investment Management Co Cuts Stake in Colgate-Palmolive (NYSE:CL)

Indiana Trust & Investment Management Co lessened its holdings in shares of Colgate-Palmolive (NYSE:CL) by 35.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,437 shares of the company’s stock after selling 775 shares during the quarter. Indiana Trust & Investment Management Co’s holdings in Colgate-Palmolive were worth $149,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vontobel Holding Ltd. boosted its stake in Colgate-Palmolive by 224.6% during the third quarter. Vontobel Holding Ltd. now owns 795,938 shares of the company’s stock valued at $82,626,000 after buying an additional 550,750 shares during the period. Sumitomo Life Insurance Co. lifted its position in Colgate-Palmolive by 3.0% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 10,283 shares of the company’s stock worth $1,067,000 after buying an additional 298 shares during the last quarter. SeaCrest Wealth Management LLC grew its holdings in shares of Colgate-Palmolive by 7.4% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 7,261 shares of the company’s stock valued at $754,000 after purchasing an additional 502 shares during the last quarter. Capstone Wealth Management Group LLC lifted its stake in Colgate-Palmolive by 3.2% in the third quarter. Capstone Wealth Management Group LLC now owns 9,520 shares of the company’s stock worth $988,000 after purchasing an additional 292 shares during the last quarter. Finally, Swedbank AB grew its stake in shares of Colgate-Palmolive by 1.4% during the third quarter. Swedbank AB now owns 2,950,059 shares of the company’s stock valued at $306,246,000 after buying an additional 40,324 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. increased their price objective on Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Morgan Stanley increased their price target on shares of Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Redburn Atlantic upgraded shares of Colgate-Palmolive to a “hold” rating in a report on Thursday, August 1st. UBS Group upped their price target on Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, BNP Paribas initiated coverage on Colgate-Palmolive in a research note on Monday, June 24th. They set an “outperform” rating and a $109.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Colgate-Palmolive Trading Down 0.5 %

Shares of CL traded down $0.48 during mid-day trading on Wednesday, reaching $101.07. The stock had a trading volume of 1,568,705 shares, compared to its average volume of 4,331,465. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.70. The business’s fifty day moving average is $103.53 and its 200 day moving average is $97.41. Colgate-Palmolive has a 52-week low of $71.22 and a 52-week high of $109.30. The firm has a market cap of $82.92 billion, a price-to-earnings ratio of 32.15, a P/E/G ratio of 3.54 and a beta of 0.40.

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

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is 63.29%.

Insider Transactions at Colgate-Palmolive

In related news, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the sale, the director now owns 11,755 shares in the company, valued at approximately $1,220,874.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the transaction, the director now directly owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $1,636,988.00. Following the completion of the sale, the insider now directly owns 13,942 shares in the company, valued at approximately $1,439,929.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,490 shares of company stock worth $4,486,063. 0.34% of the stock is currently owned by insiders.

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.