Insider Selling: Colgate-Palmolive (NYSE:CL) VP Sells 8,919 Shares of Stock

Colgate-Palmolive (NYSE:CL) VP Philip G. Shotts sold 8,919 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $71.05, for a total transaction of $633,694.95. Following the sale, the vice president now owns 50,399 shares of the company’s stock, valued at $3,580,848.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

CL stock traded up $0.85 during midday trading on Thursday, hitting $71.37. The company’s stock had a trading volume of 3,697,895 shares, compared to its average volume of 3,583,993. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 32.25. Colgate-Palmolive has a twelve month low of $57.41 and a twelve month high of $76.41. The business has a fifty day moving average price of $72.58. The firm has a market cap of $60.70 billion, a PE ratio of 24.03, a P/E/G ratio of 4.55 and a beta of 0.76.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, July 26th. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.72. Colgate-Palmolive had a net margin of 14.77% and a negative return on equity of 10,821.98%. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.88 billion. During the same period in the previous year, the business earned $0.77 EPS. The company’s revenue was down .5% compared to the same quarter last year. As a group, equities research analysts forecast that Colgate-Palmolive will post 2.84 earnings per share for the current fiscal year.



The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 18th will be paid a $0.43 dividend. The ex-dividend date is Wednesday, July 17th. This represents a $1.72 annualized dividend and a yield of 2.41%. Colgate-Palmolive’s payout ratio is currently 57.91%.

CL has been the subject of several research reports. Bank of America set a $80.00 target price on shares of Colgate-Palmolive and gave the company a “buy” rating in a research note on Friday, July 12th. JPMorgan Chase & Co. upgraded shares of Colgate-Palmolive from an “underweight” rating to a “neutral” rating and increased their target price for the company from $62.00 to $70.00 in a research note on Monday, April 29th. Morgan Stanley increased their target price on shares of Colgate-Palmolive from $72.00 to $74.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Deutsche Bank increased their target price on shares of Colgate-Palmolive from $74.00 to $76.00 and gave the company a “hold” rating in a research note on Friday, July 12th. Finally, Piper Jaffray Companies initiated coverage on shares of Colgate-Palmolive in a research note on Tuesday. They issued an “overweight” rating for the company. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $73.13.

A number of hedge funds have recently modified their holdings of CL. Horizon Investments LLC acquired a new position in shares of Colgate-Palmolive during the 1st quarter worth about $211,000. BB&T Corp increased its stake in shares of Colgate-Palmolive by 1.2% during the 1st quarter. BB&T Corp now owns 274,086 shares of the company’s stock worth $18,786,000 after purchasing an additional 3,129 shares during the last quarter. Strs Ohio increased its stake in shares of Colgate-Palmolive by 1.9% during the 1st quarter. Strs Ohio now owns 415,958 shares of the company’s stock worth $28,509,000 after purchasing an additional 7,713 shares during the last quarter. Clarius Group LLC acquired a new position in shares of Colgate-Palmolive during the 1st quarter worth about $306,000. Finally, Investec Asset Management North America Inc. increased its stake in shares of Colgate-Palmolive by 12.4% during the 2nd quarter. Investec Asset Management North America Inc. now owns 8,830 shares of the company’s stock worth $633,000 after purchasing an additional 972 shares during the last quarter. Hedge funds and other institutional investors own 75.64% of the company’s stock.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.

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