First Interstate Bank Purchases 618 Shares of Colgate-Palmolive (NYSE:CL)

First Interstate Bank increased its stake in Colgate-Palmolive (NYSE:CL) by 26.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,918 shares of the company’s stock after buying an additional 618 shares during the period. First Interstate Bank’s holdings in Colgate-Palmolive were worth $303,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norden Group LLC bought a new position in Colgate-Palmolive in the 1st quarter worth approximately $532,000. Diversify Advisory Services LLC purchased a new position in Colgate-Palmolive during the 1st quarter valued at about $911,000. Mission Wealth Management LP raised its stake in Colgate-Palmolive by 30.5% in the first quarter. Mission Wealth Management LP now owns 4,162 shares of the company’s stock worth $375,000 after buying an additional 973 shares in the last quarter. Prosperity Consulting Group LLC bought a new position in shares of Colgate-Palmolive in the 1st quarter worth $281,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Colgate-Palmolive by 28.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 262,147 shares of the company’s stock worth $23,606,000 after buying an additional 57,611 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CL has been the subject of a number of recent research reports. Jefferies Financial Group lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their price target for the stock from $103.00 to $95.00 in a research report on Wednesday, July 24th. Morgan Stanley boosted their price target on shares of Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Wells Fargo & Company reduced their price target on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating on the stock in a report on Monday, October 28th. Barclays lifted their target price on Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Finally, Piper Sandler initiated coverage on shares of Colgate-Palmolive in a report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price objective on the stock. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Hold” and a consensus price target of $105.11.

Insider Activity

In related news, EVP Gregory Malcolm sold 10,533 shares of Colgate-Palmolive stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $103.10, for a total value of $1,085,952.30. Following the sale, the executive vice president now owns 10,377 shares of the company’s stock, valued at approximately $1,069,868.70. 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. In other news, EVP Gregory Malcolm sold 10,533 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $103.10, for a total value of $1,085,952.30. Following the transaction, the executive vice president now owns 10,377 shares of the company’s stock, valued at approximately $1,069,868.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the sale, the director now owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,490 shares of company stock worth $4,486,063 over the last three months. Corporate insiders own 0.34% of the company’s stock.

Colgate-Palmolive Trading Down 0.4 %

Shares of CL stock traded down $0.38 during trading hours on Friday, reaching $93.33. The company had a trading volume of 4,859,703 shares, compared to its average volume of 4,362,460. The company has a 50 day moving average of $102.26 and a 200 day moving average of $98.19. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.28. The firm has a market cap of $76.25 billion, a price-to-earnings ratio of 26.73, a P/E/G ratio of 3.38 and a beta of 0.40. Colgate-Palmolive has a 1-year low of $74.22 and a 1-year high of $109.30.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.14%. The ex-dividend date is Friday, October 18th. Colgate-Palmolive’s payout ratio is presently 57.31%.

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.