Insider Selling: Colgate-Palmolive (NYSE:CL) COO Sells $920,500.00 in Stock

Key Points

• Colgate-Palmolive COO Panagiotis Tsourapas sold 10,000 shares at an average price of $92.05, generating $920,500. After the transaction, he retained 64,901 shares, a 13.35% reduction in his ownership.
• Colgate-Palmolive reported quarterly EPS of $0.99, exceeding estimates of $0.95, while revenue reached $5.36 billion and rose 4.9% year over year.
• Shares recently traded near $92.12, while analysts maintained a “Moderate Buy” consensus with an average price target of $99. The company also pays a quarterly dividend of $0.53, implying a 2.3% yield.

Colgate-Palmolive Company (NYSE:CL - Get Free Report) COO Panagiotis Tsourapas sold 10,000 shares of the business's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $92.05, for a total value of $920,500.00. Following the completion of the sale, the chief operating officer owned 64,901 shares in the company, valued at approximately $5,974,137.05. The trade was a 13.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Colgate-Palmolive Stock Performance

Shares of CL stock traded up $0.79 on Wednesday, hitting $92.12. 3,603,142 shares of the stock were exchanged, compared to its average volume of 5,809,646. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The firm's 50 day moving average is $91.94 and its two-hundred day moving average is $90.10. The firm has a market capitalization of $73.44 billion, a PE ratio of 36.56, a P/E/G ratio of 4.33 and a beta of 0.33. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.04. The firm 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%. The company's quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $0.92 earnings per share. Sell-side analysts expect that Colgate-Palmolive Company will post 3.86 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, July 20th were given a $0.53 dividend. The ex-dividend date was Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. Colgate-Palmolive's payout ratio is 84.13%.

Institutional Investors Weigh In On Colgate-Palmolive

Several large investors have recently added to or reduced their stakes in CL. Kemnay Advisory Services Inc. purchased a new stake in shares of Colgate-Palmolive in the 4th quarter valued at about $25,000. CBIZ Investment Advisory Services LLC increased its position in shares of Colgate-Palmolive by 86.7% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company's stock worth $26,000 after purchasing an additional 150 shares during the last quarter. TD Capital Management LLC increased its position in shares of Colgate-Palmolive by 61.4% in the fourth quarter. TD Capital Management LLC now owns 326 shares of the company's stock worth $26,000 after purchasing an additional 124 shares during the last quarter. Triumph Capital Management raised its stake in Colgate-Palmolive by 62.9% in the fourth quarter. Triumph Capital Management now owns 329 shares of the company's stock valued at $26,000 after purchasing an additional 127 shares in the last quarter. Finally, Jessup Wealth Management Inc purchased a new stake in Colgate-Palmolive in the fourth quarter valued at approximately $26,000. Institutional investors own 80.41% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on CL shares. Wells Fargo & Company raised their target price on Colgate-Palmolive from $92.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 8th. UBS Group upped their price target on Colgate-Palmolive from $106.00 to $109.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Jefferies Financial Group reissued a "hold" rating on shares of Colgate-Palmolive in a report on Monday, August 3rd. Sanford C. Bernstein restated a "market perform" rating on shares of Colgate-Palmolive in a research report on Thursday, August 13th. Finally, Royal Bank Of Canada boosted their price objective on shares of Colgate-Palmolive from $102.00 to $104.00 and gave the company an "outperform" rating in a research note on Monday, August 3rd. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $99.00.

About Colgate-Palmolive

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.

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