Noel Wallace Sells 161,021 Shares of Colgate-Palmolive (NYSE:CL) Stock

Colgate-Palmolive Company (NYSE:CL) CEO Noel Wallace sold 161,021 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the completion of the sale, the chief executive officer owned 362,231 shares in the company, valued at approximately $33,296,273.52. This trade represents a 30.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Colgate-Palmolive Stock Up 0.3%

Shares of NYSE CL opened at $93.24 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.30 and a debt-to-equity ratio of 13.82. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33. The firm’s 50-day moving average price is $91.13 and its 200-day moving average price is $89.74. The stock has a market capitalization of $74.33 billion, a price-to-earnings ratio of 37.00, a P/E/G ratio of 4.54 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.04. The company had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.92 earnings per share. On average, equities research analysts anticipate that Colgate-Palmolive Company will post 3.86 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.3%. The ex-dividend date is Monday, July 20th. Colgate-Palmolive’s dividend payout ratio is presently 84.13%.

Institutional Trading of Colgate-Palmolive

A number of large investors have recently made changes to their positions in CL. Brighton Jones LLC lifted its holdings in shares of Colgate-Palmolive by 4.4% in the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock worth $962,000 after buying an additional 450 shares during the period. Woodline Partners LP raised its holdings in shares of Colgate-Palmolive by 76.3% in the first quarter. Woodline Partners LP now owns 46,361 shares of the company’s stock valued at $4,344,000 after acquiring an additional 20,062 shares in the last quarter. Schnieders Capital Management LLC. raised its holdings in shares of Colgate-Palmolive by 2.0% in the second quarter. Schnieders Capital Management LLC. now owns 12,494 shares of the company’s stock valued at $1,136,000 after acquiring an additional 245 shares in the last quarter. Nebula Research & Development LLC lifted its stake in Colgate-Palmolive by 165.5% in the second quarter. Nebula Research & Development LLC now owns 10,326 shares of the company’s stock worth $939,000 after acquiring an additional 6,437 shares during the period. Finally, Sei Investments Co. lifted its stake in Colgate-Palmolive by 21.7% in the second quarter. Sei Investments Co. now owns 657,093 shares of the company’s stock worth $59,732,000 after acquiring an additional 116,968 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CL has been the topic of a number of analyst reports. Citigroup boosted their price objective on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Wells Fargo & Company raised their target price on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Colgate-Palmolive in a research note on Friday, July 31st. JPMorgan Chase & Co. cut their price target on shares of Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating on the stock in a report on Monday, August 3rd. Finally, Royal Bank Of Canada increased their price objective on shares of Colgate-Palmolive from $102.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average 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.