John J. Huston Sells 14,000 Shares of Colgate-Palmolive Company (NYSE:CL) Stock
Colgate-Palmolive Company (NYSE:CL) SVP John J. Huston sold 14,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $71.36, for a total transaction of $999,040.00. Following the completion of the sale, the senior vice president now directly owns 88,598 shares of the company’s stock, valued at approximately $6,322,353.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Colgate-Palmolive Company (NYSE:CL) traded up 0.27% during mid-day trading on Monday, hitting $71.45. 3,043,230 shares of the stock traded hands. Colgate-Palmolive Company has a one year low of $63.43 and a one year high of $77.27. The company has a market cap of $62.94 billion, a P/E ratio of 26.55 and a beta of 0.80. The stock has a 50 day moving average price of $72.71 and a 200-day moving average price of $72.83.
Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.72. The firm had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter in the previous year, the firm posted $0.70 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, analysts forecast that Colgate-Palmolive Company will post $2.89 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, July 18th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Friday, July 14th. Colgate-Palmolive’s payout ratio is currently 59.48%.
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Several hedge funds have recently modified their holdings of CL. First Commonwealth Financial Corp PA purchased a new stake in shares of Colgate-Palmolive during the second quarter worth about $328,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Colgate-Palmolive during the second quarter worth about $1,779,000. Dana Investment Advisors Inc. boosted its stake in shares of Colgate-Palmolive by 2.7% in the second quarter. Dana Investment Advisors Inc. now owns 3,156 shares of the company’s stock worth $234,000 after buying an additional 83 shares during the last quarter. Colonial Trust Advisors boosted its stake in shares of Colgate-Palmolive by 8.2% in the second quarter. Colonial Trust Advisors now owns 13,591 shares of the company’s stock worth $1,008,000 after buying an additional 1,025 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Colgate-Palmolive by 62.7% in the second quarter. Janus Henderson Group PLC now owns 717,105 shares of the company’s stock worth $53,161,000 after buying an additional 276,474 shares during the last quarter. Institutional investors and hedge funds own 73.69% of the company’s stock.
CL has been the subject of a number of analyst reports. Bank of America Corporation upped their price objective on shares of Colgate-Palmolive from $78.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, May 31st. Zacks Investment Research raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a report on Tuesday, July 4th. Jefferies Group LLC initiated coverage on shares of Colgate-Palmolive in a report on Tuesday, April 18th. They issued a “hold” rating and a $78.00 price objective for the company. BidaskClub lowered shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Finally, Wells Fargo & Company reissued a “market perform” rating on shares of Colgate-Palmolive in a report on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $75.82.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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