Insider Selling: Andrew Hendry Unloads 6,000 Shares of Colgate-Palmolive Stock (CL)
Colgate-Palmolive (NYSE:CL) Insider Andrew Hendry sold 6,000 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $59.35, for a total value of $356,100.00. Following the completion of the sale, the insider now directly owns 192,547 shares of the company’s stock, valued at approximately $11,427,664. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Colgate-Palmolive (NYSE:CL) traded up 1.48% during mid-day trading on Wednesday, hitting $59.83. 4,594,731 shares of the company’s stock traded hands. Colgate-Palmolive has a one year low of $51.41 and a one year high of $62.70. The stock’s 50-day moving average is $59.05 and its 200-day moving average is $59.26. The company has a market cap of $55.503 billion and a P/E ratio of 24.60.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.70 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.70. The company had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.39 billion. During the same quarter in the prior year, the company posted $1.33 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. Analysts expect that Colgate-Palmolive will post $2.83 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 15th. Stockholders of record on Tuesday, October 22nd will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Friday, October 18th.
Several analysts have recently commented on the stock. Analysts at Morgan Stanley upgraded shares of Colgate-Palmolive from an “equal weight” rating to an “overweight” rating in a research note to investors on Monday, September 30th. They now have a $68.00 price target on the stock, up previously from $59.93. They noted that the move was a valuation call. Separately, analysts at Barclays Capital upgraded shares of Colgate-Palmolive from an “equal weight” rating to an “overweight” rating in a research note to investors on Wednesday, September 18th. They now have a $65.00 price target on the stock, up previously from $59.00. Finally, analysts at BNP Paribas initiated coverage on shares of Colgate-Palmolive in a research note to investors on Wednesday, September 11th. They set a “neutral” rating and a $62.00 price target on the stock. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $84.26.
Colgate-Palmolive Company (NYSE:CL) is a consumer products company whose products are marketed in over 200 countries and territories throughout the world.
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