Key Points
- Colgate-Palmolive director John Cahill sold 4,170 shares at an average price of $93.37, generating $389,352.90 and reducing his direct ownership by 12.81% to 28,373 shares.
- The company reported quarterly EPS of $0.99, beating analyst expectations of $0.95, while revenue reached $5.36 billion, up 4.9% year over year. Colgate-Palmolive also declared a quarterly dividend of $0.53 per share, equal to a 2.3% yield.
- Analysts maintain a consensus “Moderate Buy” rating with an average price target of $99.00; the stock was recently trading near $93.24, while institutional investors owned 80.41% of outstanding shares.
Colgate-Palmolive Company (NYSE:CL - Get Free Report) Director John Cahill sold 4,170 shares of the firm's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $93.37, for a total transaction of $389,352.90. Following the transaction, the director directly owned 28,373 shares in the company, valued at $2,649,187.01. The trade was a 12.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Colgate-Palmolive Stock Up 0.3%
Colgate-Palmolive stock opened at $93.24 on Friday. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. 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 firm's 50-day simple moving average is $91.13 and its 200 day simple moving average is $89.74. The stock has a market cap of $74.33 billion, a PE ratio of 37.00, a price-to-earnings-growth ratio of 4.54 and a beta of 0.33.
Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.04. The firm had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The company's revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.92 EPS. Research analysts predict that Colgate-Palmolive Company will post 3.86 EPS for the current fiscal year.
Colgate-Palmolive Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be given a $0.53 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 annualized dividend and a yield of 2.3%. Colgate-Palmolive's payout ratio is currently 84.13%.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on CL shares. JPMorgan Chase & Co. decreased their price objective on shares of Colgate-Palmolive from $104.00 to $103.00 and set an "overweight" rating for the company in a report on Monday, August 3rd. Barclays increased their target price on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 21st. Sanford C. Bernstein began coverage on shares of Colgate-Palmolive in a report on Thursday, June 11th. They issued a "market perform" rating and a $96.00 price target on the stock. Jefferies Financial Group reissued a "hold" rating on shares of Colgate-Palmolive in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $101.00 target price on shares of Colgate-Palmolive in a research report on Monday. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $99.00.
View Our Latest Stock Report on CL
Hedge Funds Weigh In On Colgate-Palmolive
A number of large investors have recently made changes to their positions in the stock. Kemnay Advisory Services Inc. purchased a new position in shares of Colgate-Palmolive in the fourth quarter worth about $25,000. CBIZ Investment Advisory Services LLC lifted its holdings in Colgate-Palmolive by 86.7% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company's stock worth $26,000 after buying an additional 150 shares during the period. TD Capital Management LLC grew its position in shares of Colgate-Palmolive by 61.4% in the 4th quarter. TD Capital Management LLC now owns 326 shares of the company's stock worth $26,000 after buying an additional 124 shares during the last quarter. Triumph Capital Management increased its stake in shares of Colgate-Palmolive by 62.9% during the fourth quarter. Triumph Capital Management now owns 329 shares of the company's stock valued at $26,000 after buying an additional 127 shares during the period. Finally, Jessup Wealth Management Inc purchased a new position in shares of Colgate-Palmolive during the fourth quarter valued at approximately $26,000. 80.41% of the stock is owned by institutional investors.
About Colgate-Palmolive
(
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.
Further Reading
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