Panagiotis Tsourapas Sells 14,794 Shares of Colgate-Palmolive (NYSE:CL) Stock

Colgate-Palmolive (NYSE:CL) insider Panagiotis Tsourapas sold 14,794 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $102.94, for a total value of $1,522,894.36. Following the transaction, the insider now directly owns 5,146 shares in the company, valued at $529,729.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Colgate-Palmolive Stock Performance

CL opened at $100.58 on Wednesday. The company has a market cap of $82.52 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 3.54 and a beta of 0.39. The stock has a 50-day moving average of $97.81 and a 200-day moving average of $91.93. The company has a debt-to-equity ratio of 16.90, a quick ratio of 0.28 and a current ratio of 1.06. Colgate-Palmolive has a 52-week low of $67.62 and a 52-week high of $104.15.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, July 26th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The firm had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5 billion. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 EPS. As a group, equities research analysts forecast that Colgate-Palmolive will post 3.57 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Friday, July 19th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 63.29%.

Institutional Trading of Colgate-Palmolive

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CL. Norges Bank acquired a new stake in Colgate-Palmolive in the 4th quarter valued at approximately $731,843,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Colgate-Palmolive by 27.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock worth $3,698,096,000 after purchasing an additional 8,933,912 shares in the last quarter. Swedbank AB acquired a new stake in shares of Colgate-Palmolive during the 1st quarter worth approximately $286,370,000. Acadian Asset Management LLC grew its holdings in shares of Colgate-Palmolive by 108.4% during the 2nd quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock worth $551,367,000 after purchasing an additional 2,955,442 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Colgate-Palmolive by 40.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock worth $870,400,000 after purchasing an additional 2,593,313 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

CL has been the topic of several recent analyst reports. Bank of America upped their price target on Colgate-Palmolive from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Redburn Atlantic upgraded Colgate-Palmolive to a “hold” rating in a research note on Thursday, August 1st. Jefferies Financial Group downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and lowered their target price for the company from $103.00 to $95.00 in a research note on Wednesday, July 24th. TD Cowen boosted their target price on Colgate-Palmolive from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, Sanford C. Bernstein boosted their target price on Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a research note on Tuesday, July 30th. Eight equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $101.11.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.