Colgate-Palmolive (NYSE:CL) Issues Earnings Results, Beats Estimates By $0.03 EPS

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

Colgate-Palmolive Stock Performance

Shares of CL opened at $95.61 on Monday. Colgate-Palmolive has a 1 year low of $71.46 and a 1 year high of $109.30. The stock has a market capitalization of $78.44 billion, a PE ratio of 30.26, a PEG ratio of 3.54 and a beta of 0.40. The company has a debt-to-equity ratio of 16.90, a quick ratio of 0.70 and a current ratio of 1.06. The stock has a 50-day simple moving average of $103.15 and a 200-day simple moving average of $98.06.

Colgate-Palmolive Dividend Announcement

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

Wall Street Analysts Forecast Growth

CL has been the topic of several recent research reports. Bank of America boosted their price target on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Wells Fargo & Company lowered shares of Colgate-Palmolive from an “equal weight” rating to an “underweight” rating and set a $100.00 target price on the stock. in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and raised their price target for the stock from $107.00 to $109.00 in a report on Monday, September 9th. Evercore ISI upped their price objective on Colgate-Palmolive from $100.00 to $106.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Finally, TD Cowen raised their target price on Colgate-Palmolive from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $106.00.

Insider Buying and Selling

In related news, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the transaction, the director now owns 11,755 shares in the company, valued at $1,220,874.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Sally Massey sold 15,850 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total value of $1,636,988.00. Following the transaction, the insider now owns 13,942 shares in the company, valued at approximately $1,439,929.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the sale, the director now owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,490 shares of company stock worth $4,486,063. Company insiders own 0.34% of the company’s stock.

Institutional Trading of Colgate-Palmolive

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its stake in Colgate-Palmolive by 27.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock worth $3,698,096,000 after acquiring an additional 8,933,912 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Colgate-Palmolive by 40.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock worth $870,400,000 after purchasing an additional 2,593,313 shares in the last quarter. Legal & General Group Plc increased its position in shares of Colgate-Palmolive by 0.8% during the second quarter. Legal & General Group Plc now owns 7,785,101 shares of the company’s stock worth $755,465,000 after purchasing an additional 61,413 shares in the last quarter. GUARDCAP ASSET MANAGEMENT Ltd boosted its position in shares of Colgate-Palmolive by 4.1% in the 1st quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 6,987,454 shares of the company’s stock valued at $629,220,000 after purchasing an additional 278,150 shares during the period. Finally, Acadian Asset Management LLC boosted its position in shares of Colgate-Palmolive by 108.4% in the 2nd quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock valued at $551,367,000 after purchasing an additional 2,955,442 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

About Colgate-Palmolive

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.