Panagiotis Tsourapas Sells 10,000 Shares of Colgate-Palmolive (NYSE:CL) Stock

Colgate-Palmolive Company (NYSE:CL) COO Panagiotis Tsourapas sold 10,000 shares of Colgate-Palmolive stock in a transaction on Monday, August 24th. The stock was sold at an average price of $92.05, for a total transaction of $920,500.00. Following the sale, the chief operating officer directly owned 64,901 shares of the company’s stock, valued at $5,974,137.05. This represents a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Colgate-Palmolive Price Performance

NYSE:CL traded up $0.79 during midday trading on Wednesday, hitting $92.12. The company had a trading volume of 3,603,142 shares, compared to its average volume of 5,809,646. The company has a market capitalization of $73.44 billion, a PE ratio of 36.56, a P/E/G ratio of 4.33 and a beta of 0.33. 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 52-week low of $74.54 and a 52-week high of $99.33. The stock’s fifty day moving average price is $91.94 and its 200-day moving average price is $90.10.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter last year, the business posted $0.92 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, research analysts expect that Colgate-Palmolive Company will post 3.86 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

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

Institutional Investors Weigh In On Colgate-Palmolive

Several institutional investors have recently bought and sold shares of the stock. Kemnay Advisory Services Inc. bought a new position in Colgate-Palmolive during the 4th quarter worth approximately $25,000. CBIZ Investment Advisory Services LLC lifted its position in Colgate-Palmolive by 86.7% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after purchasing an additional 150 shares during the last quarter. TD Capital Management LLC lifted its position in Colgate-Palmolive by 61.4% in the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after purchasing an additional 124 shares during the last quarter. Triumph Capital Management boosted its stake in shares of Colgate-Palmolive by 62.9% during the fourth quarter. Triumph Capital Management now owns 329 shares of the company’s stock valued at $26,000 after purchasing an additional 127 shares during the period. Finally, Jessup Wealth Management Inc purchased a new stake in shares of Colgate-Palmolive during the fourth quarter valued at approximately $26,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on CL. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Colgate-Palmolive in a research note on Thursday, August 13th. Barclays lifted their price target on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. TD Cowen boosted their price objective on shares of Colgate-Palmolive from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Monday, August 3rd. Wells Fargo & Company upped their price objective on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $101.00 target price on shares of Colgate-Palmolive in a report on Monday, August 3rd. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.

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.