Colgate-Palmolive (NYSE:CL) CEO Sells 20,000 Shares of Stock

Colgate-Palmolive Company (NYSE:CL) CEO Noel Wallace sold 20,000 shares of the firm’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $100.26, for a total value of $2,005,200.00. Following the completion of the transaction, the chief executive officer owned 359,700 shares in the company, valued at $36,063,522. This represents a 5.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Colgate-Palmolive Trading Down 2.1%

NYSE CL traded down $2.08 during trading on Friday, reaching $96.61. 5,464,263 shares of the stock traded hands, compared to its average volume of 5,643,606. Colgate-Palmolive Company has a fifty-two week low of $75.96 and a fifty-two week high of $101.18. The company has a quick ratio of 0.30, a current ratio of 0.96 and a debt-to-equity ratio of 11.23. The firm has a market cap of $76.80 billion, a price-to-earnings ratio of 37.89, a price-to-earnings-growth ratio of 4.48 and a beta of 0.31. The stock’s 50-day moving average price is $90.01 and its 200 day moving average price is $89.92.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, October 30th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. Colgate-Palmolive had a net margin of 9.65% and a return on equity of 607.88%. The company had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.34 billion. During the same period last year, the business posted $0.91 earnings per share. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. Analysts predict that Colgate-Palmolive Company will post 3.91 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 20th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 83.14%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CL shares. Piper Sandler decreased their target price on Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, September 21st. TD Cowen raised their price target on Colgate-Palmolive from $90.00 to $97.00 and gave the stock a “hold” rating in a research report on Monday. UBS Group lifted their price objective on Colgate-Palmolive from $106.00 to $112.00 and gave the company a “buy” rating in a report on Monday. Royal Bank Of Canada boosted their price objective on Colgate-Palmolive from $104.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Wells Fargo & Company increased their target price on Colgate-Palmolive from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Monday. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $101.22.

Institutional Trading of Colgate-Palmolive

A number of institutional investors have recently modified their holdings of the company. State Street Corp lifted its stake in Colgate-Palmolive by 97.4% in the 2nd quarter. State Street Corp now owns 94,195,992 shares of the company’s stock valued at $8,635,889,000 after acquiring an additional 46,476,510 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Colgate-Palmolive by 8.1% during 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 acquiring an additional 1,010,872 shares in the last quarter. First Eagle Investment Management LLC grew its stake in shares of Colgate-Palmolive by 1.1% during the 2nd quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company’s stock worth $752,298,000 after acquiring an additional 88,917 shares in the last quarter. Amundi raised its holdings in shares of Colgate-Palmolive by 19.9% in the second quarter. Amundi now owns 6,218,257 shares of the company’s stock valued at $570,090,000 after purchasing an additional 1,033,918 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of Colgate-Palmolive in the second quarter valued at approximately $567,483,000. 80.41% of the stock is currently owned by institutional investors.

About Colgate-Palmolive

Colgate-Palmolive is a global consumer products company whose business spans oral care, personal care, home care and pet nutrition. Its products include toothpaste, toothbrushes, mouthwashes, soaps, shampoos, cleaning products and pet food.

The company’s best-known brands include Colgate, Palmolive, elmex, Softsoap, Ajax and Hill’s Pet Nutrition. It sells products through retail and other channels in markets around the world.

Founded in 1806 by William Colgate as a soap and candle business in New York City, the company has grown into an international manufacturer of household and personal care products.