Shares of Colgate-Palmolive (NYSE:CL) traded up 0.06% during trading on Wednesday, hitting $71.74. 1,444,894 shares of the stock traded hands. Colgate-Palmolive has a 1-year low of $63.43 and a 1-year high of $77.27. The company has a market cap of $63.19 billion, a P/E 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 Company (NYSE:CL) announced its earnings results on Friday, July 21st. The company reported $0.72 EPS for the quarter, hitting the consensus estimate of $0.72, Bloomberg Earnings reports. The business had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.89 billion. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. Colgate-Palmolive’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.70 EPS.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, July 18th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, July 14th. Colgate-Palmolive’s payout ratio is presently 59.48%.
In other news, SVP John J. Huston sold 14,000 shares of the stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $71.53, for a total value of $1,001,420.00. Following the sale, the senior vice president now directly owns 102,838 shares of the company’s stock, valued at $7,356,002.14. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard J. Kogan sold 8,000 shares of the stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $71.92, for a total transaction of $575,360.00. Following the completion of the sale, the director now directly owns 73,065 shares in the company, valued at $5,254,834.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 112,040 shares of company stock worth $8,116,989. Insiders own 1.02% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Colgate-Palmolive during the fourth quarter worth $455,526,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of Colgate-Palmolive during the fourth quarter worth $189,728,000. TIAA CREF Investment Management LLC increased its stake in shares of Colgate-Palmolive by 84.2% in the first quarter. TIAA CREF Investment Management LLC now owns 4,554,989 shares of the company’s stock worth $333,380,000 after buying an additional 2,082,262 shares in the last quarter. Two Sigma Investments LP increased its stake in shares of Colgate-Palmolive by 56.8% in the fourth quarter. Two Sigma Investments LP now owns 2,341,961 shares of the company’s stock worth $153,258,000 after buying an additional 848,702 shares in the last quarter. Finally, Congress Asset Management Co. MA bought a new stake in shares of Colgate-Palmolive during the fourth quarter worth $48,550,000. 73.74% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently commented on CL. UBS AG reaffirmed a “neutral” rating and set a $78.00 target price (down previously from $79.00) on shares of Colgate-Palmolive in a report on Tuesday, May 2nd. Royal Bank Of Canada reaffirmed a “hold” rating and set a $74.00 target price on shares of Colgate-Palmolive in a report on Monday, April 24th. Jefferies Group LLC began coverage on shares of Colgate-Palmolive in a report on Tuesday, April 18th. They set a “hold” rating and a $78.00 target price for the company. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Colgate-Palmolive in a report on Monday, July 24th. Finally, BidaskClub cut shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company. 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.