Key Points
- Colgate-Palmolive insider John Hazlin sold 23,376 shares for about $2.32 million, reducing his stake by 46.38%; the sale covered tax withholding on vested equity awards.
- The company beat quarterly estimates, reporting EPS of $0.97 versus $0.93 expected and revenue of $5.37 billion, up 4.6% year over year.
- Analysts’ consensus rating is Moderate Buy, with an average price target of $101.22. Colgate-Palmolive also declared a quarterly dividend of $0.53 per share, a 2.2% annualized yield.
Colgate-Palmolive Company (NYSE:CL - Get Free Report) COO Panagiotis Tsourapas sold 19,938 shares of the stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $98.74, for a total value of $1,968,678.12. Following the completion of the transaction, the chief operating officer directly owned 9,111 shares in the company, valued at approximately $899,620.14. This trade represents a 68.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Panagiotis Tsourapas also recently made the following trade(s):
- On Monday, August 24th, Panagiotis Tsourapas sold 10,000 shares of Colgate-Palmolive stock. The shares were sold at an average price of $92.05, for a total value of $920,500.00.
Colgate-Palmolive Stock Down 2.1%
NYSE:CL opened at $96.61 on Friday. The company has a debt-to-equity ratio of 11.23, a current ratio of 0.96 and a quick ratio of 0.30. The firm's 50 day simple moving average is $90.12 and its 200 day simple moving average is $89.97. The company has a market cap of $76.80 billion, a PE ratio of 25.11, a P/E/G ratio of 4.55 and a beta of 0.31. Colgate-Palmolive Company has a one year low of $75.96 and a one year high of $101.18.
Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its earnings results on Friday, October 30th. The company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. The company had revenue of $5.37 billion for the quarter, compared to analysts' expectations of $5.34 billion. Colgate-Palmolive had a net margin of 9.65% and a return on equity of 607.88%. The firm's revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 EPS. On average, research analysts anticipate that Colgate-Palmolive Company will post 3.91 earnings per share for the current year.
Colgate-Palmolive Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 20th will be given a dividend of $0.53 per share. The ex-dividend date is Tuesday, October 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.2%. Colgate-Palmolive's dividend payout ratio is 83.14%.
Hedge Funds Weigh In On Colgate-Palmolive
A number of hedge funds and other institutional investors have recently made changes to their positions in CL. Diversified Trust Co increased its position in shares of Colgate-Palmolive by 2.5% during the 3rd quarter. Diversified Trust Co now owns 111,746 shares of the company's stock valued at $9,534,000 after purchasing an additional 2,758 shares during the last quarter. Vista Capital Partners Inc. bought a new stake in Colgate-Palmolive during the 3rd quarter valued at approximately $498,000. Hamel Associates Inc. increased its stake in shares of Colgate-Palmolive by 524.3% during the third quarter. Hamel Associates Inc. now owns 29,281 shares of the company's stock valued at $2,498,000 after purchasing an additional 24,591 shares in the last quarter. Moors & Cabot Inc. increased its position in shares of Colgate-Palmolive by 1.0% during the third quarter. Moors & Cabot Inc. now owns 42,266 shares of the company's stock valued at $3,606,000 after acquiring an additional 409 shares in the last quarter. Finally, Money Concepts Capital Corp raised its stake in Colgate-Palmolive by 2.6% during the 3rd quarter. Money Concepts Capital Corp now owns 47,726 shares of the company's stock valued at $4,072,000 after buying an additional 1,220 shares during the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
CL has been the topic of a number of research analyst reports. Royal Bank Of Canada lifted their price target on shares of Colgate-Palmolive from $104.00 to $105.00 and gave the company an "outperform" rating in a research note on Monday, November 2nd. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $101.00 price target (up from $99.00) on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Weiss Ratings downgraded shares of Colgate-Palmolive from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, October 2nd. Sanford C. Bernstein reissued a "market perform" rating on shares of Colgate-Palmolive in a research report on Thursday, August 13th. Finally, Citigroup raised their price target on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $101.22.
View Our Latest Stock Analysis on CL
Colgate-Palmolive Company Profile
(
Get Free Report)
Colgate-Palmolive is a global consumer products company whose business spans oral care, personal care, home care and pet nutrition. Its products include toothpaste, toothbrushes, mouthwashes, soaps, shampoos, cleaning products and pet food.
The company's best-known brands include Colgate, Palmolive, elmex, Softsoap, Ajax and Hill's Pet Nutrition. It sells products through retail and other channels in markets around the world.
Founded in 1806 by William Colgate as a soap and candle business in New York City, the company has grown into an international manufacturer of household and personal care products.
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