Key Points
- CEO Noel Wallace sold 161,021 Colgate-Palmolive shares for approximately $14.8 million, reducing his holdings by 30.77% to 362,231 shares. The transaction was made to cover tax withholding obligations tied to vested equity awards.
- Colgate-Palmolive exceeded quarterly earnings expectations, reporting $0.99 EPS versus the $0.95 consensus, while revenue reached $5.36 billion and increased 4.9% year over year.
- The company declared a quarterly dividend of $0.53 per share, or $2.12 annualized, implying a 2.3% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $99.
Colgate-Palmolive Company (NYSE:CL - Get Free Report) CEO Noel Wallace sold 161,021 shares of the stock in a transaction dated 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 sale, the chief executive officer owned 362,231 shares of the company's stock, valued at $33,296,273.52. This represents a 30.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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%
NYSE CL opened at $92.82 on Friday. The stock's 50 day moving average is $91.07 and its 200 day moving average is $89.72. The company has a current ratio of 1.03, a quick ratio of 0.30 and a debt-to-equity ratio of 13.82. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The stock has a market cap of $74.00 billion, a PE ratio of 36.83, a P/E/G ratio of 4.56 and a beta of 0.33.
Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.04. The business had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The company's revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm posted $0.92 EPS. Research analysts predict that Colgate-Palmolive Company will post 3.86 EPS for the current fiscal year.
Colgate-Palmolive Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be given a dividend of $0.53 per share. The ex-dividend date 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 is currently 84.13%.
Hedge Funds Weigh In On Colgate-Palmolive
Several institutional investors have recently bought and sold shares of the business. Simplicity Wealth LLC grew its stake in shares of Colgate-Palmolive by 139.7% in the 2nd quarter. Simplicity Wealth LLC now owns 41,488 shares of the company's stock worth $3,804,000 after buying an additional 24,182 shares in the last quarter. Trivium Point Advisory LLC purchased a new stake in shares of Colgate-Palmolive during the 2nd quarter valued at about $274,000. N.E.W. Advisory Services LLC lifted its holdings in shares of Colgate-Palmolive by 100.0% in the 2nd quarter. N.E.W. Advisory Services LLC now owns 480 shares of the company's stock valued at $44,000 after acquiring an additional 240 shares during the last quarter. HBK Sorce Advisory LLC grew its position in Colgate-Palmolive by 2.6% in the second quarter. HBK Sorce Advisory LLC now owns 11,300 shares of the company's stock worth $1,054,000 after acquiring an additional 285 shares in the last quarter. Finally, Continuum Advisory LLC purchased a new position in Colgate-Palmolive in the second quarter worth about $81,000. Institutional investors own 80.41% of the company's stock.
Analyst Ratings Changes
Several brokerages have commented on CL. Rothschild & Co Redburn set a $100.00 price target on shares of Colgate-Palmolive and gave the stock a "buy" rating in a research note on Tuesday, April 21st. TD Cowen lifted their target price on Colgate-Palmolive from $85.00 to $90.00 and gave the stock a "hold" rating in a report on Monday. Sanford C. Bernstein assumed coverage on Colgate-Palmolive in a research report on Thursday, June 11th. They issued a "market perform" rating and a $96.00 target price on the stock. Bank of America dropped their price target on Colgate-Palmolive from $105.00 to $102.00 and set a "buy" rating for the company in a research note on Friday, April 10th. Finally, Piper Sandler raised their price target on Colgate-Palmolive from $92.00 to $96.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Colgate-Palmolive currently has an average rating of "Moderate Buy" and a consensus target price of $99.00.
View Our Latest Stock Analysis on Colgate-Palmolive
Colgate-Palmolive Company Profile
(
Get Free Report)
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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