Short Interest in Colgate-Palmolive (NYSE:CL) Expands By 13.1%

Colgate-Palmolive (NYSE:CLGet Free Report) was the recipient of a significant increase in short interest in the month of April. As of April 30th, there was short interest totalling 10,650,000 shares, an increase of 13.1% from the April 15th total of 9,420,000 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average daily volume of 4,340,000 shares, the days-to-cover ratio is currently 2.5 days.

Colgate-Palmolive Trading Up 0.1 %

Shares of NYSE CL opened at $94.55 on Wednesday. The firm has a market capitalization of $77.57 billion, a PE ratio of 29.92, a PEG ratio of 3.51 and a beta of 0.40. Colgate-Palmolive has a one year low of $67.62 and a one year high of $95.59. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 13.21. The business has a 50-day moving average price of $89.25 and a two-hundred day moving average price of $83.24.

Colgate-Palmolive (NYSE:CLGet Free Report) last released its quarterly earnings data on Friday, April 26th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.04. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.96 billion. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.73 EPS. As a group, analysts predict that Colgate-Palmolive will post 3.52 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 22nd will be given a $0.50 dividend. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Friday, April 19th. Colgate-Palmolive’s dividend payout ratio is presently 63.29%.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, insider Sally Massey sold 12,226 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $94.06, for a total value of $1,149,977.56. Following the transaction, the insider now owns 13,924 shares of the company’s stock, valued at $1,309,691.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Colgate-Palmolive news, CEO Noel R. Wallace sold 69,948 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $84.22, for a total value of $5,891,020.56. Following the sale, the chief executive officer now owns 286,881 shares in the company, valued at $24,161,117.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sally Massey sold 12,226 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $94.06, for a total value of $1,149,977.56. Following the completion of the transaction, the insider now directly owns 13,924 shares of the company’s stock, valued at $1,309,691.44. The disclosure for this sale can be found here. Insiders sold a total of 124,771 shares of company stock worth $10,656,188 over the last 90 days. Insiders own 0.37% of the company’s stock.

Hedge Funds Weigh In On Colgate-Palmolive

A number of hedge funds have recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new position in shares of Colgate-Palmolive in the third quarter valued at approximately $25,000. Union Savings Bank raised its holdings in Colgate-Palmolive by 76.6% in the 4th quarter. Union Savings Bank now owns 309 shares of the company’s stock worth $25,000 after acquiring an additional 134 shares during the period. Avion Wealth lifted its position in Colgate-Palmolive by 78.1% during the 4th quarter. Avion Wealth now owns 399 shares of the company’s stock worth $32,000 after acquiring an additional 175 shares during the last quarter. Atlantic Edge Private Wealth Management LLC bought a new stake in Colgate-Palmolive during the fourth quarter valued at about $32,000. Finally, PSI Advisors LLC grew its position in shares of Colgate-Palmolive by 4,971.4% in the first quarter. PSI Advisors LLC now owns 355 shares of the company’s stock valued at $32,000 after purchasing an additional 348 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CL shares. Citigroup lifted their price objective on shares of Colgate-Palmolive from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. UBS Group increased their price objective on shares of Colgate-Palmolive from $93.00 to $95.00 and gave the company a “buy” rating in a report on Monday, January 29th. Bank of America upped their target price on Colgate-Palmolive from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Morgan Stanley lifted their price target on Colgate-Palmolive from $85.00 to $93.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. Finally, JPMorgan Chase & Co. upped their price objective on Colgate-Palmolive from $88.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, January 18th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $91.44.

View Our Latest Stock Report on Colgate-Palmolive

About Colgate-Palmolive

(Get Free Report)

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.

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