Colgate-Palmolive (NYSE:CL) Issues Earnings Results

Colgate-Palmolive (NYSE:CL) released its earnings results on Friday. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03, reports. The firm had revenue of $5.03 billion for the quarter, compared to analyst estimates of $5.01 billion. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. Colgate-Palmolive updated its FY 2024 guidance to 3.550-3.590 EPS.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $95.61 on Friday. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.70. The firm has a market cap of $78.44 billion, a P/E ratio of 30.26, a P/E/G ratio of 3.54 and a beta of 0.40. The firm has a 50 day simple moving average of $103.15 and a 200 day simple moving average of $97.98. Colgate-Palmolive has a fifty-two week low of $71.46 and a fifty-two week high of $109.30.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is currently 63.29%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CL shares. Deutsche Bank Aktiengesellschaft lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $107.00 to $109.00 in a report on Monday, September 9th. TD Cowen lifted their price objective on Colgate-Palmolive from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Evercore ISI lifted their price objective on Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Citigroup lifted their price objective on Colgate-Palmolive from $103.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Barclays lifted their price objective on Colgate-Palmolive from $91.00 to $96.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and an average target price of $106.00.

Insider Activity at Colgate-Palmolive

In related news, EVP Gregory Malcolm sold 10,533 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total value of $1,085,952.30. Following the completion of the sale, the executive vice president now owns 10,377 shares of the company’s stock, valued at $1,069,868.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Colgate-Palmolive news, insider Sally Massey sold 15,850 shares of Colgate-Palmolive stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the completion of the sale, the insider now owns 13,942 shares of the company’s stock, valued at approximately $1,439,929.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gregory Malcolm sold 10,533 shares of Colgate-Palmolive stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the sale, the executive vice president now directly owns 10,377 shares of the company’s stock, valued at $1,069,868.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,490 shares of company stock valued at $4,486,063 over the last quarter. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of Colgate-Palmolive

Institutional investors have recently bought and sold shares of the business. Diversify Advisory Services LLC acquired a new stake in Colgate-Palmolive during the 1st quarter worth $911,000. TD Asset Management Inc grew its holdings in shares of Colgate-Palmolive by 2.4% in the 1st quarter. TD Asset Management Inc now owns 1,154,566 shares of the company’s stock valued at $103,969,000 after buying an additional 26,987 shares during the period. Empowered Funds LLC grew its holdings in shares of Colgate-Palmolive by 277.3% in the 1st quarter. Empowered Funds LLC now owns 33,082 shares of the company’s stock valued at $2,979,000 after buying an additional 24,314 shares during the period. M&G Plc acquired a new position in shares of Colgate-Palmolive in the 1st quarter valued at $3,812,000. Finally, Sei Investments Co. grew its holdings in shares of Colgate-Palmolive by 41.5% in the 1st quarter. Sei Investments Co. now owns 598,639 shares of the company’s stock valued at $53,901,000 after buying an additional 175,445 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Company Profile

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.