Colgate-Palmolive (NYSE:CL) Insider Sells $1,506,320.53 in Stock

Colgate-Palmolive Company (NYSE:CL) insider Sally Massey sold 15,851 shares of Colgate-Palmolive stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $95.03, for a total value of $1,506,320.53. Following the completion of the transaction, the insider owned 13,751 shares in the company, valued at approximately $1,306,757.53. This represents a 53.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Colgate-Palmolive Price Performance

Shares of Colgate-Palmolive stock traded down $0.23 during midday trading on Monday, hitting $94.18. 5,368,344 shares of the company traded hands, compared to its average volume of 7,733,365. The firm’s fifty day moving average price is $82.13 and its 200-day moving average price is $81.55. The stock has a market cap of $75.92 billion, a price-to-earnings ratio of 35.95, a PEG ratio of 4.26 and a beta of 0.29. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $100.18. The company has a debt-to-equity ratio of 5.90, a quick ratio of 0.27 and a current ratio of 0.42.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, January 30th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. The firm had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.13 billion. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $0.91 earnings per share. As a group, sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Wednesday, January 21st will be given a dividend of $0.52 per share. The ex-dividend date is Wednesday, January 21st. This represents a $2.08 dividend on an annualized basis and a yield of 2.2%. Colgate-Palmolive’s payout ratio is currently 79.39%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in Colgate-Palmolive in the second quarter valued at $960,390,000. Northwestern Mutual Wealth Management Co. increased its position in Colgate-Palmolive by 8,040.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock valued at $380,666,000 after buying an additional 4,598,789 shares in the last quarter. Schroder Investment Management Group raised its stake in Colgate-Palmolive by 242.3% during the 2nd quarter. Schroder Investment Management Group now owns 5,324,115 shares of the company’s stock worth $483,962,000 after buying an additional 3,768,784 shares during the period. Pacer Advisors Inc. grew its stake in Colgate-Palmolive by 3,052.2% in the third quarter. Pacer Advisors Inc. now owns 2,697,047 shares of the company’s stock valued at $215,602,000 after acquiring an additional 2,611,485 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its holdings in shares of Colgate-Palmolive by 46.7% during the third quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company’s stock valued at $645,719,000 after acquiring an additional 2,572,796 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Colgate-Palmolive in a report on Wednesday, January 21st. JPMorgan Chase & Co. boosted their target price on shares of Colgate-Palmolive from $93.00 to $97.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Citigroup raised their price target on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Argus reiterated a “hold” rating on shares of Colgate-Palmolive in a report on Thursday, December 11th. Finally, Piper Sandler increased their price objective on Colgate-Palmolive from $88.00 to $96.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $94.47.

About Colgate-Palmolive

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.