Noel Wallace Sells 161,021 Shares of Colgate-Palmolive (NYSE:CL) 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 transaction of $14,801,050.32. Following the transaction, the chief executive officer directly owned 362,231 shares in the company, valued at approximately $33,296,273.52. This represents a 30.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Colgate-Palmolive Trading Down 0.5%

Shares of NYSE CL traded down $0.46 during trading on Thursday, hitting $92.82. 4,532,283 shares of the company traded hands, compared to its average volume of 6,000,204. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33. The company has a 50-day moving average price of $91.05 and a 200-day moving average price of $89.66. The firm has a market capitalization of $73.99 billion, a P/E ratio of 36.83, a P/E/G ratio of 4.52 and a beta of 0.33. 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 (NYSE:CL) last released its quarterly earnings data on Friday, July 31st. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The business had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same period in the prior year, the firm posted $0.92 EPS. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities analysts predict that Colgate-Palmolive Company will post 3.85 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed 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 84.13%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CL. Royal Bank Of Canada boosted their target price on Colgate-Palmolive from $102.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday. The Goldman Sachs Group reiterated a “buy” rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. Piper Sandler increased their price objective on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Rothschild & Co Redburn set a $100.00 target price on shares of Colgate-Palmolive and gave the company a “buy” rating in a research note on Tuesday, April 21st. Finally, Citigroup lifted their target price on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Colgate-Palmolive in the fourth quarter worth about $861,670,000. Bank of New York Mellon Corp grew its stake in Colgate-Palmolive by 172.5% during the 1st quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock valued at $1,067,211,000 after purchasing an additional 7,927,238 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Colgate-Palmolive by 8,040.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock worth $380,666,000 after purchasing an additional 4,598,789 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at approximately $236,682,000. Finally, Deutsche Bank AG boosted its stake in shares of Colgate-Palmolive by 33.9% during the 4th quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock valued at $857,040,000 after buying an additional 2,746,920 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

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.