Colgate-Palmolive (NYSE:CL) COO Panagiotis Tsourapas Sells 19,938 Shares of Stock

Colgate-Palmolive Company (NYSE:CL) COO Panagiotis Tsourapas sold 19,938 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $98.74, for a total value of $1,968,678.12. Following the sale, the chief operating officer owned 9,111 shares in the company, valued at $899,620.14. The trade was a 68.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Panagiotis Tsourapas also recently made the following trade(s):

• On Monday, August 24th, Panagiotis Tsourapas sold 10,000 shares of Colgate-Palmolive stock. The stock was sold at an average price of $92.05, for a total value of $920,500.00.

Colgate-Palmolive Price Performance

NYSE CL opened at $96.61 on Friday. The stock’s 50-day moving average is $90.12 and its two-hundred day moving average is $89.97. The company has a debt-to-equity ratio of 11.23, a current ratio of 0.96 and a quick ratio of 0.30. Colgate-Palmolive Company has a fifty-two week low of $75.96 and a fifty-two week high of $101.18. The firm has a market cap of $76.80 billion, a P/E ratio of 25.11, a price-to-earnings-growth ratio of 4.55 and a beta of 0.31.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, October 30th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. Colgate-Palmolive had a return on equity of 607.88% and a net margin of 9.65%. The business had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.34 billion. During the same quarter in the previous year, the firm earned $0.91 EPS. Colgate-Palmolive’s quarterly revenue was up 4.6% on a year-over-year basis. On average, analysts anticipate that Colgate-Palmolive Company will post 3.91 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is 83.14%.

Institutional Investors Weigh In On Colgate-Palmolive

A number of hedge funds have recently made changes to their positions in the stock. State Street Corp grew its position in Colgate-Palmolive by 97.4% in the 2nd quarter. State Street Corp now owns 94,195,992 shares of the company’s stock valued at $8,635,889,000 after purchasing an additional 46,476,510 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Colgate-Palmolive by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 13,532,417 shares of the company’s stock worth $1,240,652,000 after buying an additional 1,010,872 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in Colgate-Palmolive by 1.1% in the 2nd quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company’s stock valued at $752,298,000 after acquiring an additional 88,917 shares during the last quarter. Amundi grew its stake 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. Finally, Bank of America Corp DE bought a new position in Colgate-Palmolive in the second quarter worth approximately $567,483,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. BNP Paribas Exane reiterated an “outperform” rating and set a $108.00 target price (up from $97.00) on shares of Colgate-Palmolive in a report on Monday, November 2nd. Jefferies Financial Group reiterated a “hold” rating and set a $89.00 price target (up from $88.00) on shares of Colgate-Palmolive in a report on Monday, August 3rd. TD Cowen boosted their target price on shares of Colgate-Palmolive from $90.00 to $97.00 and gave the stock a “hold” rating in a research report on Monday. Barclays upped their target price on Colgate-Palmolive from $87.00 to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Bank of America increased their price target on shares of Colgate-Palmolive from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday. Thirteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $101.22.

About Colgate-Palmolive

Colgate-Palmolive is a global consumer products company whose business spans oral care, personal care, home care and pet nutrition. Its products include toothpaste, toothbrushes, mouthwashes, soaps, shampoos, cleaning products and pet food.

The company’s best-known brands include Colgate, Palmolive, elmex, Softsoap, Ajax and Hill’s Pet Nutrition. It sells products through retail and other channels in markets around the world.

Founded in 1806 by William Colgate as a soap and candle business in New York City, the company has grown into an international manufacturer of household and personal care products.