Busey Bank Sells 8,675 Shares of Colgate-Palmolive (NYSE:CL)

Busey Bank decreased its stake in Colgate-Palmolive (NYSE:CL) by 5.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 165,915 shares of the company’s stock after selling 8,675 shares during the period. Busey Bank’s holdings in Colgate-Palmolive were worth $17,224,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. bought a new position in Colgate-Palmolive during the 2nd quarter valued at about $25,000. Continuum Advisory LLC raised its stake in shares of Colgate-Palmolive by 46.5% in the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after acquiring an additional 125 shares during the last quarter. Register Financial Advisors LLC acquired a new position in shares of Colgate-Palmolive in the 1st quarter worth approximately $48,000. Gradient Investments LLC grew its position in Colgate-Palmolive by 150.4% during the 2nd quarter. Gradient Investments LLC now owns 666 shares of the company’s stock worth $65,000 after acquiring an additional 400 shares during the last quarter. Finally, Financial Connections Group Inc. acquired a new stake in Colgate-Palmolive during the 2nd quarter valued at $68,000. 80.41% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Sally Massey sold 15,850 shares of the stock in a transaction 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 transaction, the insider now owns 13,942 shares in the company, valued at approximately $1,439,929.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Panagiotis Tsourapas sold 14,794 shares of Colgate-Palmolive stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $102.94, for a total value of $1,522,894.36. Following the sale, the insider now owns 5,146 shares of the company’s stock, valued at approximately $529,729.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sally Massey sold 15,850 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total value of $1,636,988.00. Following the sale, the insider now owns 13,942 shares in the company, valued at $1,439,929.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,490 shares of company stock worth $4,486,063 over the last ninety days. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

CL has been the topic of a number of recent analyst reports. Morgan Stanley increased their target price on Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Piper Sandler started coverage on shares of Colgate-Palmolive in a report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price objective on the stock. TD Cowen boosted their target price on shares of Colgate-Palmolive from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Barclays upped their price target on Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Finally, Wells Fargo & Company downgraded shares of Colgate-Palmolive from an “equal weight” rating to an “underweight” rating and set a $100.00 target price on the stock. in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $106.00.

Colgate-Palmolive Trading Up 0.8 %

CL opened at $99.75 on Friday. The stock has a market capitalization of $81.84 billion, a P/E ratio of 31.57, a P/E/G ratio of 3.54 and a beta of 0.40. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 16.90. Colgate-Palmolive has a 12 month low of $71.46 and a 12 month high of $109.30. The firm’s fifty day simple moving average is $103.31 and its 200 day simple moving average is $97.84.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results 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 company had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5 billion. During the same period in the previous year, the company posted $0.77 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, research analysts anticipate that Colgate-Palmolive will post 3.57 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 63.29%.

Colgate-Palmolive 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.