Colgate-Palmolive (NYSE:CL) CEO Noel Wallace Sells 161,021 Shares of Stock

Colgate-Palmolive Company (NYSE:CL) CEO Noel Wallace sold 161,021 shares of Colgate-Palmolive stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total value of $14,801,050.32. Following the completion of the sale, the chief executive officer directly owned 362,231 shares of the company’s stock, valued at $33,296,273.52. The trade was a 30.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Colgate-Palmolive Stock Down 0.5%

CL stock opened at $92.82 on Friday. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The business’s 50-day moving average is $91.07 and its two-hundred day moving average is $89.72. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.30 and a current ratio of 1.03. The company has a market cap of $74.00 billion, a price-to-earnings ratio of 36.83, a P/E/G ratio of 4.56 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The business had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.36 billion. During the same period last year, the firm posted $0.92 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, analysts forecast that Colgate-Palmolive Company will post 3.86 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 84.13%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CL. Bank of America reduced their target price on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating for the company in a report on Friday, April 10th. TD Cowen lifted their price target on shares of Colgate-Palmolive from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Monday. JPMorgan Chase & Co. cut their price objective on shares of Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating for the company in a research report on Monday. The Goldman Sachs Group restated a “buy” rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. Finally, UBS Group lifted their target price on Colgate-Palmolive from $106.00 to $109.00 and gave the company a “buy” rating in a research report on Monday. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $99.00.

Institutional Investors Weigh In On Colgate-Palmolive

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. bought a new position in shares of Colgate-Palmolive in the fourth quarter worth approximately $25,000. CBIZ Investment Advisory Services LLC increased its stake in shares of Colgate-Palmolive by 86.7% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock worth $26,000 after purchasing an additional 150 shares in the last quarter. TD Capital Management LLC raised its position in shares of Colgate-Palmolive by 61.4% during the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after purchasing an additional 124 shares during the period. Triumph Capital Management lifted its stake in shares of Colgate-Palmolive by 62.9% during the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock valued at $26,000 after buying an additional 127 shares in the last quarter. Finally, Jessup Wealth Management Inc bought a new position in Colgate-Palmolive in the 4th quarter worth $26,000. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.