Colgate-Palmolive (NYSE:CL) CEO Sells $441,793.51 in Stock

Colgate-Palmolive (NYSE:CL) CEO Noel R. Wallace sold 5,857 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $75.43, for a total transaction of $441,793.51. Following the completion of the transaction, the chief executive officer now owns 188,393 shares in the company, valued at $14,210,483.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

CL traded down $0.88 during mid-day trading on Wednesday, hitting $72.92. The stock had a trading volume of 4,188,586 shares, compared to its average volume of 4,297,239. The stock’s fifty day simple moving average is $72.96 and its 200-day simple moving average is $70.54. The company has a debt-to-equity ratio of 43.94, a current ratio of 0.37 and a quick ratio of 0.24. The firm has a market capitalization of $63.63 billion, a price-to-earnings ratio of 26.52, a price-to-earnings-growth ratio of 5.42 and a beta of 0.71. Colgate-Palmolive has a 1-year low of $64.75 and a 1-year high of $77.41.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, January 31st. The company reported $0.73 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.73. Colgate-Palmolive had a net margin of 15.08% and a return on equity of 1,906.25%. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. As a group, research analysts expect that Colgate-Palmolive will post 2.98 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, January 23rd were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Wednesday, January 22nd. Colgate-Palmolive’s dividend payout ratio is 60.78%.

Several research firms have weighed in on CL. Berenberg Bank reiterated a “sell” rating and issued a $58.00 target price on shares of Colgate-Palmolive in a report on Tuesday, February 4th. Citigroup increased their target price on shares of Colgate-Palmolive from $71.00 to $78.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Deutsche Bank increased their target price on shares of Colgate-Palmolive from $72.00 to $73.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. Royal Bank of Canada upgraded shares of Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $69.00 to $91.00 in a report on Monday, February 3rd. Finally, Bank of America lowered shares of Colgate-Palmolive from a “buy” rating to a “neutral” rating and cut their target price for the stock from $77.00 to $74.00 in a report on Thursday, December 19th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $75.00.

Several hedge funds have recently modified their holdings of CL. Wealth Quarterback LLC bought a new position in Colgate-Palmolive in the fourth quarter valued at $19,416,210,000. BlackRock Inc. grew its position in Colgate-Palmolive by 0.5% in 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 in the last quarter. State Street Corp grew its position in Colgate-Palmolive by 0.4% in the fourth quarter. State Street Corp now owns 56,249,456 shares of the company’s stock valued at $3,872,213,000 after purchasing an additional 210,742 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Colgate-Palmolive by 1.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 33,456,670 shares of the company’s stock valued at $2,459,402,000 after purchasing an additional 361,992 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Colgate-Palmolive by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 13,800,420 shares of the company’s stock valued at $948,528,000 after purchasing an additional 140,524 shares in the last quarter. 99.34% of the stock is owned by institutional investors.

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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