Colgate-Palmolive (NYSE:CL) EVP Gregory Malcolm Sells 4,100 Shares of Stock

Colgate-Palmolive Company (NYSE:CL) EVP Gregory Malcolm sold 4,100 shares of the stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $97.97, for a total transaction of $401,677.00. Following the completion of the transaction, the executive vice president owned 10,061 shares in the company, valued at $985,676.17. The trade was a 28.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Colgate-Palmolive Trading Down 0.2%

Shares of Colgate-Palmolive stock opened at $97.84 on Friday. Colgate-Palmolive Company has a 1-year low of $75.96 and a 1-year high of $101.18. The company’s fifty day simple moving average is $90.74 and its 200-day simple moving average is $90.22. The company has a debt-to-equity ratio of 11.23, a current ratio of 0.96 and a quick ratio of 0.63. The stock has a market capitalization of $77.77 billion, a PE ratio of 38.37, a P/E/G ratio of 4.44 and a beta of 0.31.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, October 30th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.93 by $0.04. Colgate-Palmolive had a return on equity of 607.88% and a net margin of 9.65%. The firm had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.34 billion. During the same period in the prior year, the business posted $0.91 EPS. Colgate-Palmolive’s revenue was up 4.6% on a year-over-year basis. As a group, equities analysts anticipate that Colgate-Palmolive Company will post 3.92 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 20th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, October 20th. Colgate-Palmolive’s payout ratio is currently 83.14%.

Wall Street Analyst Weigh In

A number of analysts have commented on CL shares. Sanford C. Bernstein restated a “market perform” rating on shares of Colgate-Palmolive in a research report on Thursday, August 13th. Piper Sandler lowered their price objective on Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, September 21st. Jefferies Financial Group reiterated a “hold” rating and set a $89.00 price objective (up from $88.00) on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Deutsche Bank reissued a “buy” rating and issued a $101.00 target price (up from $99.00) on shares of Colgate-Palmolive in a report on Monday, August 3rd. Finally, Barclays raised their target price on shares of Colgate-Palmolive from $87.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 3rd. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $101.22.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Virginia Estate & Retirement Planning Advisors Inc. increased its stake in Colgate-Palmolive by 1,409.1% in the 3rd quarter. Virginia Estate & Retirement Planning Advisors Inc. now owns 332 shares of the company’s stock worth $28,000 after buying an additional 310 shares in the last quarter. Parvin Asset Management LLC purchased a new position in shares of Colgate-Palmolive in the second quarter valued at about $32,000. Park Place Capital Corp lifted its position in shares of Colgate-Palmolive by 55.5% in the second quarter. Park Place Capital Corp now owns 356 shares of the company’s stock valued at $33,000 after acquiring an additional 127 shares in the last quarter. Cherry Tree Wealth Management LLC boosted its stake in shares of Colgate-Palmolive by 7,840.0% in the second quarter. Cherry Tree Wealth Management LLC now owns 397 shares of the company’s stock worth $36,000 after acquiring an additional 392 shares during the period. Finally, Montgomery Financial Services LLC bought a new position in shares of Colgate-Palmolive in the second quarter worth about $36,000. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Company Profile

Colgate-Palmolive is a global consumer products company whose business spans oral care, personal care, home care and pet nutrition. Its products include toothpaste, toothbrushes, mouthwashes, soaps, shampoos, cleaning products and pet food. The company’s best-known brands include Colgate, Palmolive, elmex, Softsoap, Ajax and Hill’s Pet Nutrition. It sells products through retail and other channels in markets around the world. Founded in 1806 by William Colgate as a soap and candle business in New York City, the company has grown into an international manufacturer of household and personal care products.