Insider Selling: Colgate-Palmolive (NYSE:CL) EVP Sells 4,100 Shares of Company Stock

Key Points

• Colgate-Palmolive EVP Gregory Malcolm sold 4,100 shares at an average price of $97.97, worth about $401,677. He retained 10,061 shares after the sale, reducing his position by 28.95%.
• The company’s latest quarterly results beat analyst expectations: EPS was $0.97 versus a $0.93 estimate, while revenue reached $5.37 billion and grew 4.6% year over year.
• Colgate-Palmolive declared a quarterly dividend of $0.53 per share, equal to a 2.2% annualized yield. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $101.22.

Colgate-Palmolive Company (NYSE:CL - Get Free Report) EVP Gregory Malcolm sold 4,100 shares of the firm's stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $97.97, for a total value of $401,677.00. Following the completion of the transaction, the executive vice president owned 10,061 shares of the company's stock, valued at $985,676.17. This trade represents a 28.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock traded down $0.16 during trading hours on Thursday, hitting $97.84. 3,153,922 shares of the stock traded hands, compared to its average volume of 5,619,070. The company has a debt-to-equity ratio of 11.23, a current ratio of 0.96 and a quick ratio of 0.63. The firm's 50 day moving average price is $90.59 and its 200-day moving average price is $90.16. The stock has a market capitalization of $77.77 billion, a price-to-earnings ratio of 38.37, a P/E/G ratio of 4.44 and a beta of 0.31. Colgate-Palmolive Company has a 1 year low of $75.96 and a 1 year high of $101.18.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings data on Friday, October 30th. The company reported $0.97 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $5.34 billion. During the same period last year, the business posted $0.91 earnings per share. The company's revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, equities analysts expect that Colgate-Palmolive Company will post 3.92 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed 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. This represents a $2.12 annualized dividend and a yield of 2.2%. The ex-dividend date is Tuesday, October 20th. Colgate-Palmolive's payout ratio is presently 83.14%.

Institutional Trading of Colgate-Palmolive

A number of hedge funds have recently added to or reduced their stakes in CL. AlphaGrep UK Ltd acquired a new position in Colgate-Palmolive in the 3rd quarter worth about $553,000. DiPaolo Financial Group Inc. purchased a new stake in shares of Colgate-Palmolive in the third quarter valued at approximately $49,000. BNP Paribas increased its position in shares of Colgate-Palmolive by 4.4% in the third quarter. BNP Paribas now owns 106,667 shares of the company's stock valued at $9,212,000 after buying an additional 4,528 shares in the last quarter. Horizon Kinetics Asset Management LLC raised its stake in shares of Colgate-Palmolive by 26.9% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 3,778 shares of the company's stock worth $322,000 after buying an additional 800 shares during the period. Finally, Allianz SE raised its stake in shares of Colgate-Palmolive by 9.8% during the 3rd quarter. Allianz SE now owns 105,200 shares of the company's stock worth $8,976,000 after buying an additional 9,375 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CL. Wells Fargo & Company increased their price objective on shares of Colgate-Palmolive from $90.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Monday, November 2nd. Piper Sandler decreased their target price on shares of Colgate-Palmolive from $98.00 to $95.00 and set an "overweight" rating for the company in a research report on Monday, September 21st. Royal Bank Of Canada upped their price target on shares of Colgate-Palmolive from $104.00 to $105.00 and gave the company an "outperform" rating in a report on Monday, November 2nd. Weiss Ratings downgraded Colgate-Palmolive from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, October 2nd. Finally, Barclays lifted their price objective on Colgate-Palmolive from $87.00 to $95.00 and gave the company an "equal weight" rating in a research note on Tuesday, November 3rd. Thirteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average 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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