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Colgate executive Tsourapas sells shares worth over $1.5 million

Published 2024/08/12, 22:22
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In a recent transaction, Panagiotis Tsourapas, Group President of Europe and Developing Markets at Colgate-Palmolive Company (NYSE:CL), sold 14,794 shares of the company's common stock. The shares were sold at a weighted average price ranging from $102.93 to $103.025, resulting in a total value of approximately $1.52 million.

These transactions were executed on August 8, 2024, and were reported in a filing with the Securities and Exchange Commission on August 12, 2024. The sales were part of a planned exercise of stock options awarded under Colgate-Palmolive's incentive compensation plan. A portion of the proceeds from the share sale was used to cover the exercise price of the options and related tax withholdings.

On the same date, Tsourapas also exercised options to acquire 14,794 shares of Colgate-Palmolive's common stock at a price of $72.29 per share, totaling roughly $1.07 million. This transaction is part of the executive's compensation and is a routine practice within the company's incentive plan.

Following these transactions, Tsourapas's direct holdings in the company decreased, but he still maintains a significant investment in Colgate-Palmolive through direct and indirect ownership. The reported post-transaction amount of direct shares owned is 5,146, with additional indirect holdings through the issuer's 401(k) Plan Trustee and a trust.

Colgate-Palmolive investors and the market at large often monitor the trading activity of insiders like Tsourapas for insights into the company's performance and the confidence that executives have in the firm's prospects. However, such transactions are common and are usually scheduled in advance as part of personal financial planning for executives.

The company, headquartered in New York, is known for its range of consumer products including oral care, personal care, home care, and pet nutrition. Colgate-Palmolive's commitment to its global strategy and innovation continues to position it as a leader in its industry.

In other recent news, Colgate-Palmolive Company delivered robust results in the second quarter of 2024, with mid single-digit volume growth and expanding gross margins. These results were driven by innovation, strategic marketing, and the use of data analytics and AI tools. Analyst firm TD Cowen subsequently increased its earnings per share growth estimate for Colgate-Palmolive to 11.1% from 10.5%, and raised its price target to $115. Jefferies, while maintaining a Hold rating, also increased the shares target to $101 from $95. However, Jefferies expressed caution regarding the sustainability of such performance, pointing to a weakening consumer base in North America and Europe. Another analyst firm, Evercore ISI, maintained an Outperform rating and raised the price target from $106 to $112, highlighting Colgate's strong growth prospects and high return on invested capital within the household and personal care industry. These are among the recent developments for Colgate-Palmolive.

InvestingPro Insights

As Colgate-Palmolive Company (NYSE:CL) continues to navigate the consumer products sector, recent transactions by company insiders have sparked interest among investors. To provide a broader context, here are some key metrics and insights from InvestingPro that may offer additional perspective on Colgate-Palmolive's financial health and market performance:

The company boasts a robust market capitalization of approximately $82.5 billion, reflecting its significant presence in the industry. With a price-to-earnings (P/E) ratio of 29.35, the company appears to be trading at a value that takes into account its earnings power. Notably, Colgate-Palmolive has demonstrated impressive gross profit margins, standing at 59.7% for the last twelve months as of Q2 2024. This figure is indicative of the company's ability to manage its cost of goods sold effectively and maintain profitability.

From a shareholder's perspective, Colgate-Palmolive has a strong track record of returning value through dividends. The company has not only maintained but also raised its dividend for 54 consecutive years, a testament to its financial stability and commitment to shareholders. This is complemented by a dividend yield of 1.96%, offering a steady income stream to investors.

InvestingPro Tips highlight that Colgate-Palmolive is trading at a low P/E ratio relative to near-term earnings growth, which could signal an attractive investment opportunity for those looking at company fundamentals. Moreover, analysts are optimistic about the company's future, with 9 analysts having revised their earnings estimates upwards for the upcoming period.

For investors seeking more comprehensive analysis and additional insights, InvestingPro offers a wealth of information, including 12 more InvestingPro Tips for Colgate-Palmolive. These tips can help investors make more informed decisions by assessing the company's financial health, market position, and potential investment opportunities. To explore these tips in detail, visit https://www.investing.com/pro/CL.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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