Key Points
- EVP Gregory Malcolm sold 4,100 shares at an average price of $97.97, worth about $401,677; he retained 10,061 shares, a 28.95% reduction in his direct holdings.
- Colgate-Palmolive beat quarterly estimates, reporting earnings of $0.97 per share versus $0.93 expected and revenue of $5.37 billion, up 4.6% year over year. It also declared a quarterly dividend of $0.53 per share.
- Analysts maintain a Moderate Buy consensus, with an average price target of $101.22; several firms recently raised their targets.
Colgate-Palmolive Company (NYSE:CL - Get Free Report) EVP Gregory Malcolm sold 4,100 shares of the stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $97.97, for a total transaction of $401,677.00. Following the sale, the executive vice president directly owned 10,061 shares of the company's stock, valued at approximately $985,676.17. This trade represents a 28.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Colgate-Palmolive Trading Down 0.2%
Colgate-Palmolive stock opened at $97.84 on Friday. Colgate-Palmolive Company has a 1 year low of $75.96 and a 1 year high of $101.18. The firm's 50 day moving average price is $90.74 and its 200-day moving average price is $90.22. The company has a debt-to-equity ratio of 11.23, a current ratio of 0.96 and a quick ratio of 0.63. The stock has a market cap of $77.77 billion, a P/E ratio of 38.37, a PEG ratio of 4.44 and a beta of 0.31.
Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its earnings results on Friday, October 30th. The company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. Colgate-Palmolive had a net margin of 9.65% and a return on equity of 607.88%. The firm had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.34 billion. During the same quarter in the prior year, the business earned $0.91 earnings per share. Colgate-Palmolive's revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities analysts predict that Colgate-Palmolive Company will post 3.92 earnings per share for the current fiscal year.
Colgate-Palmolive Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 20th will be paid a $0.53 dividend. The ex-dividend date is Tuesday, October 20th. This represents a $2.12 annualized dividend and a yield of 2.2%. Colgate-Palmolive's payout ratio is presently 83.14%.
Wall Street Analysts Forecast Growth
Several research firms have commented on CL. BNP Paribas Exane reissued an "outperform" rating and set a $108.00 price objective (up from $97.00) on shares of Colgate-Palmolive in a report on Monday, November 2nd. Bank of America lifted their target price on Colgate-Palmolive from $100.00 to $105.00 and gave the stock a "buy" rating in a report on Monday, November 2nd. Evercore boosted their target price on Colgate-Palmolive from $100.00 to $101.00 and gave the stock an "outperform" rating in a research report on Thursday, October 8th. UBS Group boosted their target price on Colgate-Palmolive from $106.00 to $112.00 and gave the stock a "buy" rating in a research report on Monday, November 2nd. Finally, Barclays increased their price target on Colgate-Palmolive from $87.00 to $95.00 and gave the company an "equal weight" rating in a research note on Tuesday, November 3rd. Thirteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $101.22.
View Our Latest Analysis on Colgate-Palmolive
Institutional Investors Weigh In On Colgate-Palmolive
Large investors have recently bought and sold shares of the business. State Street Corp lifted its position in Colgate-Palmolive by 97.4% during the second quarter. State Street Corp now owns 94,195,992 shares of the company's stock valued at $8,635,889,000 after purchasing an additional 46,476,510 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Colgate-Palmolive by 8.1% in 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 buying an additional 1,010,872 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Colgate-Palmolive by 1.1% in the 2nd quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company's stock worth $752,298,000 after buying an additional 88,917 shares during the last quarter. Amundi increased its holdings in shares of Colgate-Palmolive by 19.9% in the 2nd quarter. Amundi now owns 6,218,257 shares of the company's stock worth $570,090,000 after buying an additional 1,033,918 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of Colgate-Palmolive in the 2nd quarter worth about $567,483,000. Institutional investors own 80.41% of the company's stock.
About Colgate-Palmolive
(
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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