Colgate-Palmolive (NYSE:CL) Releases Earnings Results

Colgate-Palmolive (NYSE:CL) announced its quarterly earnings data on Friday. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04, RTT News reports. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The company had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same period in the prior year, the firm posted $0.73 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. Colgate-Palmolive updated its FY 2024 guidance to EPS.

Colgate-Palmolive Stock Up 1.9 %

CL stock opened at $91.01 on Monday. Colgate-Palmolive has a one year low of $67.62 and a one year high of $92.25. The stock has a market capitalization of $74.81 billion, a PE ratio of 28.80, a price-to-earnings-growth ratio of 3.42 and a beta of 0.42. The company has a debt-to-equity ratio of 8.59, a quick ratio of 0.28 and a current ratio of 0.42. The company has a fifty day moving average of $87.66 and a 200-day moving average of $81.63.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 22nd will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, April 19th. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.48. Colgate-Palmolive’s dividend payout ratio (DPR) is 63.29%.

Insider Transactions at Colgate-Palmolive

In other news, CEO Noel R. Wallace sold 29,772 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $84.06, for a total value of $2,502,634.32. Following the completion of the sale, the chief executive officer now owns 301,343 shares in the company, valued at approximately $25,330,892.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Noel R. Wallace sold 29,772 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $84.06, for a total value of $2,502,634.32. Following the completion of the transaction, the chief executive officer now owns 301,343 shares in the company, valued at approximately $25,330,892.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Daniels sold 61,633 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $83.93, for a total transaction of $5,172,857.69. Following the completion of the transaction, the insider now owns 57,948 shares of the company’s stock, valued at approximately $4,863,575.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 232,371 shares of company stock worth $19,505,099. Company insiders own 0.37% of the company’s stock.

Hedge Funds Weigh In On Colgate-Palmolive

A number of large investors have recently made changes to their positions in the stock. Legacy Trust increased its holdings in shares of Colgate-Palmolive by 1.7% in the 1st quarter. Legacy Trust now owns 6,925 shares of the company’s stock valued at $624,000 after purchasing an additional 116 shares in the last quarter. Checchi Capital Advisers LLC increased its holdings in Colgate-Palmolive by 1.5% during the 1st quarter. Checchi Capital Advisers LLC now owns 7,829 shares of the company’s stock valued at $705,000 after acquiring an additional 118 shares in the last quarter. Regal Investment Advisors LLC increased its holdings in Colgate-Palmolive by 1.6% during the 4th quarter. Regal Investment Advisors LLC now owns 7,574 shares of the company’s stock valued at $604,000 after acquiring an additional 121 shares in the last quarter. M&G Investment Management Ltd. increased its holdings in Colgate-Palmolive by 0.3% during the 4th quarter. M&G Investment Management Ltd. now owns 49,269 shares of the company’s stock valued at $3,942,000 after acquiring an additional 125 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC increased its holdings in Colgate-Palmolive by 3.9% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 3,404 shares of the company’s stock valued at $271,000 after acquiring an additional 127 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Barclays increased their target price on shares of Colgate-Palmolive from $82.00 to $84.00 and gave the company an “equal weight” rating in a research report on Friday, April 12th. The Goldman Sachs Group assumed coverage on shares of Colgate-Palmolive in a research report on Friday, March 1st. They issued a “buy” rating and a $93.00 target price on the stock. Wells Fargo & Company increased their target price on shares of Colgate-Palmolive from $80.00 to $88.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Evercore ISI increased their target price on shares of Colgate-Palmolive from $90.00 to $96.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Finally, Raymond James raised shares of Colgate-Palmolive from a “market perform” rating to an “outperform” rating and set a $91.00 target price on the stock in a research report on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Colgate-Palmolive has a consensus rating of “Moderate Buy” and an average price target of $89.50.

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.