This move signifies a shift in the firm’s investment strategy, potentially indicating a change in their outlook on Colgate-Palmolive’s future prospects. The company’s decision to reduce its stake in Colgate-Palmolive is significant because it reflects a broader trend of institutional investors adjusting their portfolios in response to changing market conditions. This trend is driven by factors such as economic uncertainty, inflation, and geopolitical tensions.
Get Colgate-Palmolive alerts: Insider Transactions at Colgate-Palmolive In related news, insider Sally Massey sold 15,850 shares of Colgate-Palmolive stock in a transaction dated Tuesday, August 6th. The stock was 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 $1,439,929.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Sally Massey sold 15,850 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the sale, the insider now directly owns 13,942 shares of the company’s stock, valued at $1,439,929.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gregory Malcolm sold 10,533 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the completion of the transaction, the executive vice president now owns 10,377 shares of the company’s stock, valued at $1,069,868.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,490 shares of company stock worth $4,486,063. Company insiders own 0.34% of the company’s stock.
Colgate-Palmolive Price Performance Shares of CL opened at $105.73 on Friday. The stock has a market capitalization of $86.39 billion, a PE ratio of 33.46, a PEG ratio of 3.72 and a beta of 0.40. Colgate-Palmolive has a fifty-two week low of $67.62 and a fifty-two week high of $109.30. 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 company has a 50 day moving average price of $102.11 and a 200-day moving average price of $95.23. Colgate-Palmolive (NYSE:CL – Get Free Report) last posted its quarterly earnings data on Friday, July 26th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The firm had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5 billion. Colgate-Palmolive’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.77 EPS. Equities analysts predict that Colgate-Palmolive will post 3.57 earnings per share for the current fiscal year.
Colgate-Palmolive Dividend Announcement The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Friday, October 18th. Colgate-Palmolive’s payout ratio is currently 63.29%. Analyst Ratings Changes CL has been the subject of a number of analyst reports. Citigroup upped their price target on Colgate-Palmolive from $103.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Sanford C. Bernstein boosted their price target on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 30th. Barclays increased their target price on Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Morgan Stanley lifted their price target on Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, Evercore ISI lifted their price objective on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus target price of $102.63.
Beverages and Food. The Beverages segment includes Coca-Cola, Sprite, Fanta, Dasani, and other beverages. The Food segment includes snacks, beverages, and other food products. The company’s stock is traded on the New York Stock Exchange under the ticker symbol “KO.”
Coca-Cola Company is a multinational corporation with a global presence. It has a strong brand portfolio, a diverse product portfolio, and a robust distribution network.
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