Colgate-Palmolive (NYSE:CL – Get Rating) Vice Chairman Philip G. Shotts sold 10,000 shares of the company in a trade dated Monday, May 16. The shares were sold at an average price of $78.52, for a total value of $785,200.00. Following the transaction, the vice president now directly owns 46,094 shares of the company, valued at $3,619,300.88. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of NYSE CL traded down $3.06 at midday Wednesday, hitting $75.71. 4,590,242 shares of the shares traded were traded at an average volume of 5,556,381. The company has a leverage ratio of 10.42, a quick ratio of 0.67 and a current ratio of 1.09. Colgate-Palmolive has a 52-week minimum of $72.20 and a 52-week maximum of $85.61. The company has a market capitalization of $63.44 billion, a price-earnings ratio of 31.41, a PEG ratio of 5.24 and a beta of 0.56. The stock has a fifty-day moving average price of $77.43 and a 200-day moving average price of $79.17.
Colgate-Palmolive (NYSE:CL – Get Rating) last reported quarterly earnings data on Friday, April 29. The company reported earnings per share (EPS) of $0.74 for the quarter, meeting analyst consensus estimates of $0.74. The company posted revenue of $4.40 billion in the quarter, compared to $4.40 billion expected by analysts. Colgate-Palmolive achieved a return on equity of 296.77% and a net margin of 11.70%. The company’s quarterly revenue increased 1.3% from the same quarter last year. In the same quarter of the previous year, the company had earned earnings per share of $0.80. As a group, sell-side analysts expect Colgate-Palmolive to post 3.08 EPS for the current fiscal year.
Colgate-Palmolive said its board authorized a stock repurchase program on Thursday, March 10 that allows the company to repurchase $5.00 billion in stock. This repurchase authorization allows the company to purchase up to 8.1% of its shares through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, May 13. Shareholders of record on Thursday, April 21 received a dividend of $0.47. The ex-dividend date was Wednesday, April 20. This represents an annualized dividend of $1.88 and a dividend yield of 2.48%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.45. Colgate-Palmolive’s payout ratio is currently 77.69%.
A number of equity analysts have weighed in on CL shares recently. Wells Fargo & Company lowered its price target on Colgate-Palmolive from $78.00 to $76.00 and set an “underweight” rating on the stock in a Monday, January 31 report. Sanford C. Bernstein upgraded Colgate-Palmolive from an “underperforming” rating to a “market performing” rating and raised its price target for the stock from $77.00 to $83.00 in a Wednesday, February 2, research report. TheStreet upgraded Colgate-Palmolive from a “c+” rating to a “b” rating in a Friday, April 29 research report. Zacks Investment Research downgraded Colgate-Palmolive from a “hold” rating to a “sell” rating and set a price target of $82.00 for the stock. in a research report on Monday, May 2. Finally, Goldman Sachs Group cut its price target on Colgate-Palmolive from $104.00 to $95.00 in a Tuesday, March 29 research report. Two equity research analysts have assigned the stock a sell rating, thirteen have issued a hold rating and three have assigned the stock a buy rating. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $85.56.
Several hedge funds have recently bought and sold shares of CL. Norges Bank bought a new position in shares of Colgate-Palmolive in the fourth quarter worth $649,161,000. BlackRock Inc. increased its position in Colgate-Palmolive by 8.4% during the fourth quarter. BlackRock Inc. now owns 65,218,485 shares of the company valued at $5,565,745,000 after acquiring an additional 5,039,853 shares in the last quarter. Renaissance Technologies LLC increased its position in Colgate-Palmolive by 151.6% during the first quarter. Renaissance Technologies LLC now owns 5,688,786 shares of the company valued at $431,381,000 after acquiring an additional 3,427,400 shares in the last quarter. Wellington Management Group LLP increased its position in Colgate-Palmolive by 10.0% during the third quarter. Wellington Management Group LLP now owns 33,925,902 shares of the company valued at $2,564,120,000 after acquiring an additional 3,077,946 shares in the last quarter. Finally, Lazard Asset Management LLC increased its position in Colgate-Palmolive by 359.6% during the fourth quarter. Lazard Asset Management LLC now owns 3,477,341 shares of the company valued at $296,754,000 after acquiring an additional 2,720,790 shares in the last quarter. Hedge funds and other institutional investors hold 78.12% of the company’s shares.
About Colgate Palmolive (Get an assessment)
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The Company operates through two segments, Oral, Personal and Home Care; and animal nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwashes, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin care products, dishwashing detergents, fabric conditioners, household cleaners and other related items.
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