Colgate-Palmolive Company (NYSE:CL) Director John T. Cahill sold 8,000 shares of the firm’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $72.47, for a total transaction of $579,760.00. Following the completion of the transaction, the director now directly owns 31,786 shares in the company, valued at approximately $2,303,531.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Colgate-Palmolive Company (NYSE:CL) opened at 71.02 on Friday. The firm’s 50-day moving average is $72.30 and its 200 day moving average is $72.91. Colgate-Palmolive Company has a 52-week low of $63.43 and a 52-week high of $77.27. The stock has a market capitalization of $62.56 billion, a PE ratio of 26.39 and a beta of 0.80.
Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, July 21st. The company reported $0.72 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.72. The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.89 billion. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the business posted $0.70 earnings per share. On average, equities analysts forecast that Colgate-Palmolive Company will post $2.89 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, July 18th were issued a $0.40 dividend. The ex-dividend date was Friday, July 14th. This represents a $1.60 annualized dividend and a yield of 2.25%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 59.48%.
Several large investors have recently modified their holdings of the company. Chickasaw Capital Management LLC increased its stake in shares of Colgate-Palmolive by 218.3% in the first quarter. Chickasaw Capital Management LLC now owns 16,920 shares of the company’s stock valued at $1,238,000 after buying an additional 11,605 shares in the last quarter. Meritage Portfolio Management increased its stake in shares of Colgate-Palmolive by 0.3% in the first quarter. Meritage Portfolio Management now owns 95,879 shares of the company’s stock valued at $7,017,000 after buying an additional 255 shares in the last quarter. Eastern Bank increased its stake in shares of Colgate-Palmolive by 0.8% in the first quarter. Eastern Bank now owns 10,939 shares of the company’s stock valued at $801,000 after buying an additional 89 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Colgate-Palmolive by 9.9% in the first quarter. ProShare Advisors LLC now owns 879,652 shares of the company’s stock valued at $64,382,000 after buying an additional 79,323 shares in the last quarter. Finally, Lynch & Associates IN increased its stake in shares of Colgate-Palmolive by 4.1% in the first quarter. Lynch & Associates IN now owns 29,542 shares of the company’s stock valued at $2,162,000 after buying an additional 1,175 shares in the last quarter. 73.69% of the stock is owned by institutional investors.
CL has been the topic of a number of recent research reports. Bank of America Corporation raised their target price on shares of Colgate-Palmolive from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, May 31st. Zacks Investment Research cut Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Vetr cut Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $76.67 price target on the stock. in a report on Wednesday, May 17th. Royal Bank Of Canada reissued a “hold” rating and set a $74.00 target price on shares of Colgate-Palmolive in a report on Thursday, May 25th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $76.00 target price on shares of Colgate-Palmolive in a report on Wednesday, May 17th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $75.82.
Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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