Dennis J. Hickey Sells 73,872 Shares of Colgate-Palmolive Company (CL) Stock
Colgate-Palmolive Company (NYSE:CL) CFO Dennis J. Hickey sold 73,872 shares of Colgate-Palmolive stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $71.80, for a total value of $5,304,009.60. Following the completion of the sale, the chief financial officer now owns 484,985 shares in the company, valued at approximately $34,821,923. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Colgate-Palmolive Company (NYSE CL) traded up 0.36% during midday trading on Monday, hitting $71.74. The company had a trading volume of 2,049,174 shares. Colgate-Palmolive Company has a 52-week low of $63.43 and a 52-week high of $77.27. The firm has a market cap of $63.19 billion, a price-to-earnings ratio of 26.66 and a beta of 0.80. The stock has a 50 day moving average of $73.87 and a 200 day moving average of $72.62.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, July 21st. The company reported $0.72 earnings per share for the quarter, meeting the consensus estimate of $0.72. The company had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.89 billion. Colgate-Palmolive had a return on equity of 3,121.95% and a net margin of 15.83%. The company’s revenue was down .5% on a year-over-year basis. During the same period last year, the firm earned $0.70 earnings per share. On average, analysts anticipate that Colgate-Palmolive Company will post $2.89 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, July 18th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, July 14th. This represents a $1.60 annualized dividend and a dividend yield of 2.23%. Colgate-Palmolive’s dividend payout ratio is presently 59.48%.
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CL has been the topic of a number of research analyst reports. Bank of America Corporation lifted their target price on Colgate-Palmolive from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, May 31st. Zacks Investment Research downgraded Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Vetr downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $76.67 target price on the stock. in a research report on Wednesday, May 17th. Royal Bank Of Canada restated a “hold” rating and issued a $74.00 target price on shares of Colgate-Palmolive in a research report on Thursday, May 25th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $76.00 target price on shares of Colgate-Palmolive in a research report on Wednesday, May 17th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $75.82.
Several hedge funds have recently made changes to their positions in CL. Raymond James Trust N.A. increased its position in Colgate-Palmolive by 10.1% in the first quarter. Raymond James Trust N.A. now owns 21,407 shares of the company’s stock worth $1,567,000 after buying an additional 1,968 shares during the period. Northstar Group Inc. increased its position in Colgate-Palmolive by 0.4% in the first quarter. Northstar Group Inc. now owns 4,850 shares of the company’s stock worth $356,000 after buying an additional 20 shares during the period. Indiana Trust & Investment Management CO purchased a new position in Colgate-Palmolive during the first quarter worth approximately $218,000. Trust Co increased its position in Colgate-Palmolive by 2.4% in the fourth quarter. Trust Co now owns 21,856 shares of the company’s stock worth $1,430,000 after buying an additional 506 shares during the period. Finally, West Oak Capital LLC increased its position in Colgate-Palmolive by 13.8% in the first quarter. West Oak Capital LLC now owns 29,378 shares of the company’s stock worth $2,150,000 after buying an additional 3,573 shares during the period. Institutional investors own 73.85% of the company’s stock.
Colgate-Palmolive Company Profile
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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