Key Points
- Insider sale: Colgate insider John Hazlin sold 20,989 shares at an average price of $94.25 for proceeds of $1.98M, reducing his stake by 54.33% to 17,645 shares (SEC filing disclosed).
- Quarterly results beat: Colgate reported $0.95 EPS versus $0.91 expected and $5.23B revenue versus $5.13B expected, and analysts maintain a consensus "Moderate Buy" with a $94.47 target.
- Dividend announced: The company declared a $0.52 quarterly dividend ($2.08 annualized) yielding about 2.2%, with a payout ratio near 79.4%.
Colgate-Palmolive Company (NYSE:CL - Get Free Report) insider John Hazlin sold 20,989 shares of the firm's stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $94.25, for a total transaction of $1,978,213.25. Following the completion of the transaction, the insider directly owned 17,645 shares in the company, valued at $1,663,041.25. This trade represents a 54.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Colgate-Palmolive Trading Up 0.9%
Shares of NYSE CL opened at $96.17 on Friday. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $100.18. The firm has a market capitalization of $77.52 billion, a P/E ratio of 36.70, a P/E/G ratio of 4.30 and a beta of 0.29. The company has a debt-to-equity ratio of 5.90, a current ratio of 0.42 and a quick ratio of 0.27. The company's 50 day simple moving average is $83.43 and its 200 day simple moving average is $81.83.
Colgate-Palmolive (NYSE:CL - Get Free Report) last released its earnings results on Friday, January 30th. The company reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.04. The firm had revenue of $5.23 billion during the quarter, compared to analyst estimates of $5.13 billion. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 EPS. On average, analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.
Colgate-Palmolive Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Wednesday, January 21st will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, January 21st. Colgate-Palmolive's dividend payout ratio is currently 79.39%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Westside Investment Management Inc. raised its holdings in shares of Colgate-Palmolive by 85.5% during the second quarter. Westside Investment Management Inc. now owns 282 shares of the company's stock worth $26,000 after acquiring an additional 130 shares during the period. CBIZ Investment Advisory Services LLC raised its stake in shares of Colgate-Palmolive by 86.7% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company's stock valued at $26,000 after purchasing an additional 150 shares during the period. Triumph Capital Management lifted its holdings in shares of Colgate-Palmolive by 62.9% in the fourth quarter. Triumph Capital Management now owns 329 shares of the company's stock valued at $26,000 after purchasing an additional 127 shares in the last quarter. Jessup Wealth Management Inc acquired a new position in shares of Colgate-Palmolive during the fourth quarter worth about $26,000. Finally, Maseco LLP bought a new position in shares of Colgate-Palmolive during the fourth quarter worth about $27,000. Institutional investors and hedge funds own 80.41% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on CL shares. Jefferies Financial Group boosted their target price on Colgate-Palmolive from $85.00 to $91.00 and gave the stock a "hold" rating in a research report on Monday, February 2nd. Bank of America lifted their price objective on shares of Colgate-Palmolive from $90.00 to $100.00 and gave the stock a "buy" rating in a research note on Monday, February 2nd. TD Cowen reaffirmed a "buy" rating on shares of Colgate-Palmolive in a research note on Monday, February 2nd. Weiss Ratings reissued a "hold (c)" rating on shares of Colgate-Palmolive in a research report on Wednesday, January 21st. Finally, Piper Sandler boosted their price target on shares of Colgate-Palmolive from $88.00 to $96.00 and gave the company an "overweight" rating in a report on Friday, January 30th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $94.47.
Get Our Latest Stock Report on Colgate-Palmolive
Colgate-Palmolive Company Profile
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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.
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