Colgate-Palmolive (NYSE:CL) Stock: Insider Noel Wallace Sells 20,000 Shares

Key Points

• CEO Noel Wallace sold 20,000 shares at an average price of $100.26, for about $2.01 million. He retained 359,700 shares, reducing his position by 5.27%.
• Colgate-Palmolive reported quarterly EPS of $0.97, beating the $0.93 consensus, while revenue rose 4.6% year over year to $5.37 billion.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $101.22. The company also announced a quarterly dividend of $0.53 per share.

Colgate-Palmolive Company (NYSE:CL - Get Free Report) CEO Noel Wallace sold 20,000 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $100.26, for a total transaction of $2,005,200.00. Following the completion of the transaction, the chief executive officer owned 359,700 shares of the company's stock, valued at $36,063,522. This trade represents a 5.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Colgate-Palmolive Price Performance

NYSE CL traded down $2.08 during trading hours on Friday, reaching $96.61. 5,464,263 shares of the company's stock were exchanged, compared to its average volume of 5,643,606. 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. Colgate-Palmolive Company has a one year low of $75.96 and a one year high of $101.18. The firm has a fifty day moving average of $90.01 and a 200-day moving average of $89.92. The company has a current ratio of 0.96, a quick ratio of 0.30 and a debt-to-equity ratio of 11.23.

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

Colgate-Palmolive Announces Dividend

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

Hedge Funds Weigh In On Colgate-Palmolive

Several large investors have recently made changes to their positions in CL. Cooper Financial Group grew its position in shares of Colgate-Palmolive by 4.0% during the 2nd quarter. Cooper Financial Group now owns 2,947 shares of the company's stock worth $270,000 after buying an additional 114 shares during the period. Gould Capital LLC raised its stake in shares of Colgate-Palmolive by 38.7% during the first quarter. Gould Capital LLC now owns 412 shares of the company's stock worth $35,000 after buying an additional 115 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its holdings in Colgate-Palmolive by 2.8% in the second quarter. Redhawk Wealth Advisors Inc. now owns 4,326 shares of the company's stock valued at $397,000 after buying an additional 118 shares during the period. SVB Wealth LLC lifted its holdings in Colgate-Palmolive by 1.4% in the second quarter. SVB Wealth LLC now owns 8,767 shares of the company's stock valued at $804,000 after buying an additional 119 shares during the period. Finally, Sowell Financial Services LLC boosted its stake in Colgate-Palmolive by 2.1% in the third quarter. Sowell Financial Services LLC now owns 5,737 shares of the company's stock valued at $490,000 after acquiring an additional 119 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $101.00 price target (up from $99.00) on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Morgan Stanley raised their price objective on shares of Colgate-Palmolive from $104.00 to $111.00 and gave the company an "overweight" rating in a research report on Monday. UBS Group upped their target price on shares of Colgate-Palmolive from $106.00 to $112.00 and gave the stock a "buy" rating in a research report on Monday. Royal Bank Of Canada upped their target price on shares of Colgate-Palmolive from $104.00 to $105.00 and gave the stock an "outperform" rating in a research report on Monday. Finally, Barclays increased their price target on shares of Colgate-Palmolive from $87.00 to $95.00 and gave the company an "equal weight" rating in a research note on Tuesday. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive has a consensus rating of "Moderate Buy" and an average target price of $101.22.

Colgate-Palmolive Company Profile

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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