Colgate-Palmolive (NYSE:CL) COO Sells 19,938 Shares of Company Stock

Key Points

• COO Panagiotis Tsourapas sold 19,938 Colgate-Palmolive shares for about $1.97 million, reducing his stake by 68.64% to 9,111 shares. The sale covered tax withholding obligations tied to vested equity awards.
• Colgate-Palmolive beat quarterly earnings and revenue estimates, reporting EPS of $0.97 and revenue of $5.37 billion; revenue rose 4.6% year over year.
• The company declared a quarterly dividend of $0.53 per share, equivalent to a 2.2% annual yield. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $101.22.

Colgate-Palmolive Company (NYSE:CL - Get Free Report) COO Panagiotis Tsourapas sold 19,938 shares of Colgate-Palmolive stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $98.74, for a total value of $1,968,678.12. Following the transaction, the chief operating officer owned 9,111 shares in the company, valued at approximately $899,620.14. The trade was a 68.64% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Panagiotis Tsourapas also recently made the following trade(s):

• On Monday, August 24th, Panagiotis Tsourapas sold 10,000 shares of Colgate-Palmolive stock. The shares were sold at an average price of $92.05, for a total value of $920,500.00.

Colgate-Palmolive Trading Down 2.1%

Shares of CL traded down $2.08 during midday trading on Friday, reaching $96.61. The company had a trading volume of 5,464,263 shares, compared to its average volume of 5,643,606. Colgate-Palmolive Company has a 1-year low of $75.96 and a 1-year high of $101.18. The stock has a market cap of $76.80 billion, a PE ratio of 37.89, a price-to-earnings-growth ratio of 4.48 and a beta of 0.31. The firm has a 50 day simple moving average of $90.01 and a 200-day simple moving average of $89.92. The company has a quick ratio of 0.30, a current ratio of 0.96 and a debt-to-equity ratio of 11.23.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings results on Friday, October 30th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.93 by $0.04. The business had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.34 billion. Colgate-Palmolive had a return on equity of 607.88% and a net margin of 9.65%. The company's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 EPS. Research analysts forecast that Colgate-Palmolive Company will post 3.91 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 20th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, October 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.2%. Colgate-Palmolive's payout ratio is 83.14%.

Analysts Set New Price Targets

Several equities analysts have weighed in on CL shares. TD Cowen boosted their target price on shares of Colgate-Palmolive from $90.00 to $97.00 and gave the company a "hold" rating in a report on Monday. Barclays raised their price target on shares of Colgate-Palmolive from $87.00 to $95.00 and gave the stock an "equal weight" rating in a report on Tuesday. Piper Sandler reduced their price target on shares of Colgate-Palmolive from $98.00 to $95.00 and set an "overweight" rating on the stock in a research report on Monday, September 21st. Wells Fargo & Company upped their price objective on Colgate-Palmolive from $90.00 to $95.00 and gave the company an "equal weight" rating in a report on Monday. Finally, Royal Bank Of Canada increased their price objective on Colgate-Palmolive from $104.00 to $105.00 and gave the stock an "outperform" rating in a research report on Monday. Thirteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $101.22.

Institutional Trading of Colgate-Palmolive

Institutional investors and hedge funds have recently bought and sold shares of the stock. Money Concepts Capital Corp lifted its holdings in shares of Colgate-Palmolive by 2.6% in the 3rd quarter. Money Concepts Capital Corp now owns 47,726 shares of the company's stock worth $4,072,000 after acquiring an additional 1,220 shares during the last quarter. Allworth Financial LP boosted its position in shares of Colgate-Palmolive by 17.9% during the 3rd quarter. Allworth Financial LP now owns 38,674 shares of the company's stock worth $3,546,000 after purchasing an additional 5,870 shares during the period. Fisher Asset Management LLC increased its holdings in Colgate-Palmolive by 64.0% in the 3rd quarter. Fisher Asset Management LLC now owns 100,653 shares of the company's stock valued at $8,588,000 after purchasing an additional 39,268 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Colgate-Palmolive by 18.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,651,979 shares of the company's stock valued at $141,843,000 after purchasing an additional 251,887 shares during the last quarter. Finally, PBU The Pension Fund of Early Childhood & Youth Educators raised its position in Colgate-Palmolive by 9.4% in the third quarter. PBU The Pension Fund of Early Childhood & Youth Educators now owns 137,415 shares of the company's stock valued at $11,724,000 after purchasing an additional 11,824 shares during the period. 80.41% of the stock is currently owned by hedge funds and other 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.

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