Independence Bank of Kentucky Has $709,000 Stake in Colgate-Palmolive (NYSE:CL)

Independence Bank of Kentucky lowered its stake in Colgate-Palmolive (NYSE:CL) by 2.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 7,568 shares of the company’s stock after selling 225 shares during the quarter. Independence Bank of Kentucky’s holdings in Colgate-Palmolive were worth $709,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CL. Axxcess Wealth Management LLC grew its holdings in Colgate-Palmolive by 0.3% in the fourth quarter. Axxcess Wealth Management LLC now owns 38,786 shares of the company’s stock worth $3,526,000 after purchasing an additional 117 shares during the period. Wescott Financial Advisory Group LLC grew its stake in shares of Colgate-Palmolive by 3.5% in the 4th quarter. Wescott Financial Advisory Group LLC now owns 3,517 shares of the company’s stock valued at $320,000 after buying an additional 119 shares during the period. D Orazio & Associates Inc. grew its stake in shares of Colgate-Palmolive by 4.2% in the 4th quarter. D Orazio & Associates Inc. now owns 2,982 shares of the company’s stock valued at $271,000 after buying an additional 120 shares during the period. Aberdeen Wealth Management LLC increased its position in Colgate-Palmolive by 0.6% in the 4th quarter. Aberdeen Wealth Management LLC now owns 20,651 shares of the company’s stock valued at $1,877,000 after buying an additional 125 shares in the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO raised its stake in Colgate-Palmolive by 4.0% during the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 3,388 shares of the company’s stock worth $317,000 after buying an additional 130 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on CL. UBS Group raised their price objective on Colgate-Palmolive from $105.00 to $109.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Wall Street Zen lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th. Wells Fargo & Company upped their price objective on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “underweight” rating in a report on Wednesday, April 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, April 28th. Finally, Piper Sandler lowered their target price on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $102.12.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $90.18 on Friday. Colgate-Palmolive has a 52 week low of $85.32 and a 52 week high of $109.30. The company’s 50 day moving average price is $91.77 and its two-hundred day moving average price is $91.17. The stock has a market cap of $73.08 billion, a P/E ratio of 25.62, a P/E/G ratio of 4.20 and a beta of 0.38. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, April 25th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The business had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. Colgate-Palmolive’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period last year, the company posted $0.86 earnings per share. On average, equities analysts predict that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 17th were given a dividend of $0.52 per share. The ex-dividend date was Thursday, April 17th. This represents a $2.08 annualized dividend and a yield of 2.31%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s dividend payout ratio is presently 58.76%.

Colgate-Palmolive announced that its Board of Directors has approved a stock repurchase program on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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.