Colgate-Palmolive (NYSE:CL) Insider John Hazlin Sells 23,376 Shares of Company Stock

Colgate-Palmolive Company (NYSE:CL) insider John Hazlin sold 23,376 shares of the business’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $99.15, for a total transaction of $2,317,730.40. Following the sale, the insider directly owned 27,021 shares in the company, valued at $2,679,132.15. The trade was a 46.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Colgate-Palmolive Stock Down 2.1%

CL stock opened at $96.61 on Friday. The company has a debt-to-equity ratio of 11.23, a current ratio of 0.96 and a quick ratio of 0.30. The stock has a market capitalization of $76.80 billion, a P/E ratio of 25.11, a P/E/G ratio of 4.55 and a beta of 0.31. Colgate-Palmolive Company has a 1-year low of $75.96 and a 1-year high of $101.18. The business has a fifty day moving average price of $90.12 and a 200-day moving average price of $89.97.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, October 30th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. Colgate-Palmolive had a net margin of 9.65% and a return on equity of 607.88%. The business had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.34 billion. During the same period in the prior year, the company posted $0.91 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. Equities analysts forecast that Colgate-Palmolive Company will post 3.91 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 20th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, October 20th. Colgate-Palmolive’s dividend payout ratio is currently 83.14%.

Hedge Funds Weigh In On Colgate-Palmolive

A number of hedge funds and other institutional investors have recently bought and sold shares of CL. Corient Private Wealth LP lifted its position in Colgate-Palmolive by 29.0% during the second quarter. Corient Private Wealth LP now owns 639,604 shares of the company’s stock valued at $58,639,000 after purchasing an additional 143,812 shares during the period. Bank of America Corp DE acquired a new position in Colgate-Palmolive during the second quarter worth $567,483,000. Brandywine Financial Group raised its holdings in shares of Colgate-Palmolive by 35,612.3% in the first quarter. Brandywine Financial Group now owns 72,853 shares of the company’s stock valued at $6,209,000 after buying an additional 72,649 shares during the last quarter. SEB Asset Management AB acquired a new stake in shares of Colgate-Palmolive during the first quarter worth $91,149,000. Finally, Cohen Klingenstein LLC lifted its position in shares of Colgate-Palmolive by 9.0% during the third quarter. Cohen Klingenstein LLC now owns 167,669 shares of the company’s stock worth $14,306,000 after purchasing an additional 13,870 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Piper Sandler lowered their price target on shares of Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, September 21st. Weiss Ratings cut shares of Colgate-Palmolive from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 2nd. Wells Fargo & Company lifted their price target on Colgate-Palmolive from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Monday, November 2nd. Morgan Stanley lifted their price target on shares of Colgate-Palmolive from $104.00 to $111.00 and gave the company an “overweight” rating in a report on Monday, November 2nd. Finally, Bank of America increased their target price on shares of Colgate-Palmolive from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Monday. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.22.

About Colgate-Palmolive

Colgate-Palmolive is a global consumer products company whose business spans oral care, personal care, home care and pet nutrition. Its products include toothpaste, toothbrushes, mouthwashes, soaps, shampoos, cleaning products and pet food.

The company’s best-known brands include Colgate, Palmolive, elmex, Softsoap, Ajax and Hill’s Pet Nutrition. It sells products through retail and other channels in markets around the world.

Founded in 1806 by William Colgate as a soap and candle business in New York City, the company has grown into an international manufacturer of household and personal care products.