Colgate-Palmolive (NYSE:CL) CEO Sells $14,801,050.32 in Stock

Colgate-Palmolive Company (NYSE:CL) CEO Noel Wallace sold 161,021 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total value of $14,801,050.32. Following the transaction, the chief executive officer directly owned 362,231 shares of the company’s stock, valued at approximately $33,296,273.52. This trade represents a 30.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Colgate-Palmolive Price Performance

Shares of Colgate-Palmolive stock traded down $0.46 during trading on Thursday, reaching $92.82. The company’s stock had a trading volume of 4,532,283 shares, compared to its average volume of 6,000,204. The company has a quick ratio of 0.30, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33. The company has a market capitalization of $73.99 billion, a P/E ratio of 36.83, a price-to-earnings-growth ratio of 4.52 and a beta of 0.33. The business has a 50 day moving average price of $91.05 and a 200-day moving average price of $89.66.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The firm had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.36 billion. During the same quarter in the prior year, the business posted $0.92 earnings per share. Colgate-Palmolive’s revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.85 EPS for the current year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, July 20th will be issued 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 is Monday, July 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 84.13%.

Institutional Trading of Colgate-Palmolive

A number of hedge funds have recently bought and sold shares of the company. Brighton Jones LLC grew its position in shares of Colgate-Palmolive by 4.4% in the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after purchasing an additional 450 shares during the period. Woodline Partners LP lifted its position in Colgate-Palmolive by 76.3% during the first quarter. Woodline Partners LP now owns 46,361 shares of the company’s stock worth $4,344,000 after buying an additional 20,062 shares during the period. Schnieders Capital Management LLC. boosted its stake in Colgate-Palmolive by 2.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 12,494 shares of the company’s stock worth $1,136,000 after buying an additional 245 shares during the last quarter. Nebula Research & Development LLC grew its holdings in Colgate-Palmolive by 165.5% in the 2nd quarter. Nebula Research & Development LLC now owns 10,326 shares of the company’s stock valued at $939,000 after buying an additional 6,437 shares during the period. Finally, Sei Investments Co. grew its holdings in Colgate-Palmolive by 21.7% in the 2nd quarter. Sei Investments Co. now owns 657,093 shares of the company’s stock valued at $59,732,000 after buying an additional 116,968 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. 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 report on Monday. Sanford C. Bernstein began coverage on Colgate-Palmolive in a report on Thursday, June 11th. They issued a “market perform” rating and a $96.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Colgate-Palmolive in a report on Friday, July 31st. Barclays raised their price target on Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Finally, Citigroup boosted their price objective 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. Twelve 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 an average target price of $99.00.

Colgate-Palmolive Company Profile

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.