Colgate-Palmolive (NYSE:CL) VP Philip G. Shotts sold 462 shares of the company’s stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $67.05, for a total value of $30,977.10. Following the transaction, the vice president now directly owns 41,250 shares of the company’s stock, valued at $2,765,812.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
NYSE:CL traded up $0.64 during trading hours on Monday, reaching $65.35. 3,849,000 shares of the company were exchanged, compared to its average volume of 3,929,820. The company has a market capitalization of $58.10 billion, a P/E ratio of 22.77, a P/E/G ratio of 2.99 and a beta of 0.72. Colgate-Palmolive has a 1-year low of $61.28 and a 1-year high of $77.91. The company has a debt-to-equity ratio of -34.49, a current ratio of 1.06 and a quick ratio of 0.74.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, July 27th. The company reported $0.77 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.77. The business had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.91 billion. Colgate-Palmolive had a return on equity of 2,494.79% and a net margin of 13.97%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.72 earnings per share. On average, sell-side analysts anticipate that Colgate-Palmolive will post 3.02 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Friday, October 19th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Thursday, October 18th. Colgate-Palmolive’s dividend payout ratio is presently 58.54%.
Colgate-Palmolive announced that its Board of Directors has authorized a share buyback plan on Monday, June 18th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
CL has been the subject of several recent research reports. Macquarie cut Colgate-Palmolive from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $74.00 to $65.00 in a research report on Monday, July 30th. Argus restated a “buy” rating and issued a $75.00 price objective (up previously from $72.00) on shares of Colgate-Palmolive in a research note on Tuesday, September 18th. Citigroup dropped their price objective on Colgate-Palmolive from $70.00 to $68.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 31st. Wells Fargo & Co lowered Colgate-Palmolive to a “hold” rating in a research note on Tuesday, July 17th. Finally, Zacks Investment Research upgraded Colgate-Palmolive from a “sell” rating to a “hold” rating in a research note on Tuesday, September 18th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. Colgate-Palmolive currently has a consensus rating of “Hold” and an average price target of $72.25.
Several hedge funds have recently modified their holdings of CL. Rainier Group Investment Advisory LLC acquired a new stake in shares of Colgate-Palmolive during the 1st quarter valued at $107,000. Quadrant Capital Group LLC boosted its holdings in shares of Colgate-Palmolive by 142.4% during the 1st quarter. Quadrant Capital Group LLC now owns 1,602 shares of the company’s stock valued at $108,000 after acquiring an additional 941 shares in the last quarter. CSat Investment Advisory L.P. acquired a new stake in shares of Colgate-Palmolive during the 2nd quarter valued at $111,000. Centerpoint Advisors LLC bought a new position in Colgate-Palmolive during the 1st quarter worth $112,000. Finally, Bridgeworth LLC bought a new position in Colgate-Palmolive during the 2nd quarter worth $120,000. 74.54% of the stock is currently owned by hedge funds and other institutional investors.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
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