Key Points
- Colgate-Palmolive COO Panagiotis Tsourapas sold 10,000 shares at an average price of $92.05, generating $920,500. His remaining direct ownership fell 13.35% to 64,901 shares.
- Colgate-Palmolive reported quarterly earnings of $0.99 per share, beating estimates of $0.95, while revenue rose 4.9% year over year to $5.36 billion.
- The company pays a quarterly dividend of $0.53, equivalent to an annualized $2.12 and 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) COO Panagiotis Tsourapas sold 10,000 shares of the company's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $92.05, for a total transaction of $920,500.00. Following the completion of the sale, the chief operating officer directly owned 64,901 shares of the company's stock, valued at approximately $5,974,137.05. This represents a 13.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Colgate-Palmolive Price Performance
NYSE CL opened at $92.12 on Thursday. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.67. The firm has a market capitalization of $73.44 billion, a PE ratio of 36.56, a P/E/G ratio of 4.27 and a beta of 0.33. The company's 50 day simple moving average is $91.98 and its 200 day simple moving average is $90.08.
Colgate-Palmolive (NYSE:CL - Get Free Report) last released 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 during 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 firm's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.92 earnings per share. As a group, equities research analysts forecast that Colgate-Palmolive Company will post 3.86 EPS for the current fiscal year.
Colgate-Palmolive Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, July 20th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, July 20th. Colgate-Palmolive's payout ratio is currently 84.13%.
Institutional Investors Weigh In On Colgate-Palmolive
Several hedge funds have recently bought and sold shares of CL. California State Teachers Retirement System lifted its position in shares of Colgate-Palmolive by 8,327.8% in the second quarter. California State Teachers Retirement System now owns 107,033,741 shares of the company's stock worth $9,812,853,000 after purchasing an additional 105,763,733 shares in the last quarter. Geode Capital Management LLC grew its position in Colgate-Palmolive by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company's stock worth $1,754,657,000 after acquiring an additional 304,426 shares in the last quarter. Morgan Stanley increased its stake in shares of Colgate-Palmolive by 1.7% during the 4th quarter. Morgan Stanley now owns 19,246,217 shares of the company's stock worth $1,520,836,000 after purchasing an additional 323,367 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Colgate-Palmolive by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,532,417 shares of the company's stock worth $1,240,652,000 after purchasing an additional 1,010,872 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Colgate-Palmolive during the 4th quarter valued at $861,670,000. 80.41% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on CL. Citigroup raised their target price on Colgate-Palmolive from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. The Goldman Sachs Group restated a "buy" rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. UBS Group lifted their price objective on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Barclays boosted their target price on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 21st. Finally, Royal Bank Of Canada increased their target price on shares of Colgate-Palmolive from $102.00 to $104.00 and gave the company an "outperform" rating in a research note on Monday, August 3rd. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $99.00.
Read Our Latest Analysis on Colgate-Palmolive
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
