Colgate-Palmolive (NYSE:CL) Director John T. Cahill sold 8,000 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $71.43, for a total value of $571,440.00. Following the completion of the transaction, the director now directly owns 30,326 shares of the company’s stock, valued at approximately $2,166,186.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of CL stock opened at $71.37 on Friday. The stock has a 50-day simple moving average of $72.54 and a 200 day simple moving average of $69.90. Colgate-Palmolive has a fifty-two week low of $57.41 and a fifty-two week high of $76.41. The stock has a market capitalization of $61.51 billion, a P/E ratio of 25.15, a P/E/G ratio of 4.61 and a beta of 0.76. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 32.25.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, July 26th. The company reported $0.72 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.72. Colgate-Palmolive had a negative return on equity of 10,821.98% and a net margin of 14.77%. The business had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.88 billion. During the same quarter last year, the business posted $0.77 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. On average, sell-side analysts anticipate that Colgate-Palmolive will post 2.84 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, July 18th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Wednesday, July 17th. This represents a $1.72 annualized dividend and a yield of 2.41%. Colgate-Palmolive’s dividend payout ratio is currently 57.91%.
A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Colgate-Palmolive by 1.4% during the second quarter. Vanguard Group Inc. now owns 76,502,840 shares of the company’s stock valued at $5,482,958,000 after purchasing an additional 1,056,530 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Colgate-Palmolive by 0.5% during the second quarter. BlackRock Inc. now owns 60,205,815 shares of the company’s stock valued at $4,314,949,000 after purchasing an additional 279,887 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Colgate-Palmolive by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 20,354,779 shares of the company’s stock valued at $1,458,828,000 after purchasing an additional 573,566 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Colgate-Palmolive by 1.4% during the first quarter. Northern Trust Corp now owns 10,906,808 shares of the company’s stock valued at $747,553,000 after purchasing an additional 146,144 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Colgate-Palmolive by 7.9% during the fourth quarter. Geode Capital Management LLC now owns 10,540,277 shares of the company’s stock valued at $626,200,000 after purchasing an additional 768,550 shares during the last quarter. 75.64% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently issued reports on CL. JPMorgan Chase & Co. raised Colgate-Palmolive from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $62.00 to $70.00 in a research note on Monday, April 29th. Argus increased their price target on Colgate-Palmolive from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Zacks Investment Research cut Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $77.00 price target for the company. in a research note on Friday, June 7th. Deutsche Bank increased their price target on Colgate-Palmolive from $74.00 to $76.00 and gave the stock a “hold” rating in a research note on Friday, July 12th. Finally, Macquarie increased their price target on Colgate-Palmolive from $65.00 to $72.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company. Colgate-Palmolive currently has an average rating of “Hold” and a consensus target price of $73.13.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
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