Insider Selling: Colgate-Palmolive (NYSE:CL) COO Sells $920,500.00 in Stock

Colgate-Palmolive Company (NYSE:CL) COO Panagiotis Tsourapas sold 10,000 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $92.05, for a total value of $920,500.00. Following the sale, the chief operating officer owned 64,901 shares in the company, valued at $5,974,137.05. The trade was a 13.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Colgate-Palmolive Trading Down 0.2%

CL stock opened at $90.75 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33. The stock has a market capitalization of $72.34 billion, a price-to-earnings ratio of 36.01, a price-to-earnings-growth ratio of 4.25 and a beta of 0.33. The firm’s fifty day simple moving average is $92.02 and its two-hundred day simple moving average is $90.06.

Colgate-Palmolive (NYSE:CL) last released its earnings results 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. The firm had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $0.92 EPS. As a group, analysts anticipate that Colgate-Palmolive Company will post 3.86 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, July 20th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. Colgate-Palmolive’s dividend payout ratio (DPR) is 84.13%.

Hedge Funds Weigh In On Colgate-Palmolive

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Corient Private Wealth LP raised its holdings in shares of Colgate-Palmolive by 29.0% in the second quarter. Corient Private Wealth LP now owns 639,604 shares of the company’s stock worth $58,639,000 after buying an additional 143,812 shares during the last quarter. Amundi grew its holdings in shares of Colgate-Palmolive by 19.9% during the second quarter. Amundi now owns 6,218,257 shares of the company’s stock valued at $570,090,000 after buying an additional 1,033,918 shares during the last quarter. Groupe la Francaise increased its position in shares of Colgate-Palmolive by 47.9% in the 2nd quarter. Groupe la Francaise now owns 205,115 shares of the company’s stock valued at $18,750,000 after acquiring an additional 66,392 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Colgate-Palmolive in the 2nd quarter worth $111,110,000. Finally, First Eagle Investment Management LLC lifted its position in Colgate-Palmolive by 1.1% during the 2nd quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company’s stock worth $752,298,000 after acquiring an additional 88,917 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CL shares. JPMorgan Chase & Co. dropped their price objective on shares of Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating on the stock in a research note on Monday, August 3rd. Barclays upped their target price on Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Colgate-Palmolive in a research report on Thursday, August 13th. UBS Group boosted their target price on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Finally, Royal Bank Of Canada lifted their price target on shares of Colgate-Palmolive from $102.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

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.