John Cahill Sells 4,170 Shares of Colgate-Palmolive (NYSE:CL) Stock

Colgate-Palmolive Company (NYSE:CL) Director John Cahill sold 4,170 shares of Colgate-Palmolive stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total transaction of $389,352.90. Following the transaction, the director directly owned 28,373 shares of the company’s stock, valued at $2,649,187.01. This represents a 12.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Colgate-Palmolive Stock Performance

Shares of 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. The firm’s fifty day simple moving average is $91.13 and its two-hundred day simple moving average is $89.74. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The stock has a market capitalization of $74.33 billion, a P/E ratio of 37.00, a price-to-earnings-growth ratio of 4.55 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.04. The company had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. Colgate-Palmolive’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.92 EPS. As a group, analysts predict that Colgate-Palmolive Company will post 3.86 EPS for the current year.

Colgate-Palmolive Announces Dividend

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

Hedge Funds Weigh In On Colgate-Palmolive

Several hedge funds have recently modified their holdings of CL. Vanguard Group Inc. increased its position in shares of Colgate-Palmolive by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company’s stock valued at $6,633,570,000 after acquiring an additional 1,026,985 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Colgate-Palmolive by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company’s stock worth $1,754,657,000 after purchasing an additional 304,426 shares during the period. Morgan Stanley boosted its holdings in shares of Colgate-Palmolive by 1.7% in the 4th quarter. Morgan Stanley now owns 19,246,217 shares of the company’s stock worth $1,520,836,000 after buying an additional 323,367 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Colgate-Palmolive by 8.1% in the 2nd 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. Finally, Norges Bank bought a new stake in Colgate-Palmolive in the fourth quarter worth about $861,670,000. Institutional investors own 80.41% of the company’s stock.

Analysts Set New Price Targets

CL has been the topic of a number of research reports. Wells Fargo & Company upped their target price on Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 8th. Citigroup raised their price objective on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Morgan Stanley reiterated an “overweight” rating and set a $104.00 price objective on shares of Colgate-Palmolive in a report on Monday, August 3rd. Barclays increased their price objective on Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. Finally, Sanford C. Bernstein assumed coverage on Colgate-Palmolive in a report on Thursday, June 11th. They set a “market perform” rating and a $96.00 price target for the company. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.