Colgate-Palmolive Company’s (CL) “Hold” Rating Reaffirmed at Royal Bank of Canada
Colgate-Palmolive Company (NYSE:CL)‘s stock had its “hold” rating reiterated by research analysts at Royal Bank of Canada in a research report issued to clients and investors on Thursday. They currently have a $74.00 price objective on the stock. Royal Bank of Canada’s price target points to a potential downside of 0.80% from the stock’s previous close.
Several other equities research analysts have also recently commented on CL. Zacks Investment Research cut Colgate-Palmolive Company from a “buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. Citigroup Inc increased their price target on Colgate-Palmolive Company from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, March 21st. BNP Paribas upgraded Colgate-Palmolive Company from a “neutral” rating to an “outperform” rating in a report on Tuesday, February 21st. Jefferies Group LLC began coverage on Colgate-Palmolive Company in a report on Tuesday, April 18th. They issued a “hold” rating and a $78.00 target price on the stock. Finally, B. Riley dropped their target price on Colgate-Palmolive Company from $78.00 to $74.00 and set a “neutral” rating on the stock in a report on Sunday, January 29th. Fourteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $75.41.
Shares of Colgate-Palmolive Company (NYSE:CL) traded up 1.03% during mid-day trading on Thursday, hitting $75.37. The stock had a trading volume of 3,752,786 shares. Colgate-Palmolive Company has a 1-year low of $63.43 and a 1-year high of $76.86. The stock’s 50-day moving average price is $73.02 and its 200 day moving average price is $69.84. The company has a market capitalization of $66.57 billion, a P/E ratio of 27.20 and a beta of 0.70.
Colgate-Palmolive Company (NYSE:CL) last issued its earnings results on Friday, April 28th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. Colgate-Palmolive Company had a return on equity of 4,897.09% and a net margin of 16.06%. The business had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.80 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year. On average, analysts predict that Colgate-Palmolive Company will post $2.92 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Friday, April 21st were given a $0.40 dividend. The ex-dividend date was Wednesday, April 19th. This is a boost from Colgate-Palmolive Company’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 2.14%. Colgate-Palmolive Company’s dividend payout ratio is 57.35%.
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In other news, insider Patricia Verduin sold 3,833 shares of the stock in a transaction on Monday, April 17th. The stock was sold at an average price of $73.72, for a total transaction of $282,568.76. Following the transaction, the insider now directly owns 53,022 shares of the company’s stock, valued at approximately $3,908,781.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Daniel B. Marsili sold 14,000 shares of the stock in a transaction on Monday, April 17th. The shares were sold at an average price of $73.97, for a total value of $1,035,580.00. Following the transaction, the vice president now directly owns 73,904 shares in the company, valued at $5,466,678.88. The disclosure for this sale can be found here. Insiders sold a total of 39,833 shares of company stock worth $2,894,929 over the last ninety days. 1.05% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Blue Chip Partners Inc. raised its stake in Colgate-Palmolive Company by 0.4% in the first quarter. Blue Chip Partners Inc. now owns 1,805 shares of the company’s stock valued at $132,000 after buying an additional 8 shares during the period. Alpha Windward LLC raised its stake in Colgate-Palmolive Company by 0.6% in the first quarter. Alpha Windward LLC now owns 2,829 shares of the company’s stock valued at $207,000 after buying an additional 18 shares during the period. Northstar Group Inc. raised its stake in Colgate-Palmolive Company by 0.4% in the first quarter. Northstar Group Inc. now owns 4,850 shares of the company’s stock valued at $356,000 after buying an additional 20 shares during the period. Savant Capital LLC raised its stake in Colgate-Palmolive Company by 0.3% in the first quarter. Savant Capital LLC now owns 10,526 shares of the company’s stock valued at $770,000 after buying an additional 30 shares during the period. Finally, Evanson Asset Management LLC raised its stake in Colgate-Palmolive Company by 0.3% in the first quarter. Evanson Asset Management LLC now owns 11,869 shares of the company’s stock valued at $869,000 after buying an additional 32 shares during the period. 73.24% of the stock is currently owned by hedge funds and other institutional investors.
Colgate-Palmolive Company Company Profile
Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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