Colgate-Palmolive Company (CL) Given “Market Perform” Rating at Wells Fargo & Company
Colgate-Palmolive Company (NYSE:CL)‘s stock had its “market perform” rating reissued by Wells Fargo & Company in a report issued on Monday.
Other equities analysts also recently issued reports about the stock. Citigroup Inc. restated a “neutral” rating and set a $76.00 target price (up from $75.00) on shares of Colgate-Palmolive in a report on Friday, April 7th. Zacks Investment Research upgraded shares of Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Thursday, March 30th. Royal Bank Of Canada restated a “hold” rating and set a $74.00 target price on shares of Colgate-Palmolive in a report on Thursday, May 25th. UBS AG restated a “neutral” rating and set a $78.00 target price (down from $79.00) on shares of Colgate-Palmolive in a report on Tuesday, May 2nd. Finally, BidaskClub downgraded shares of Colgate-Palmolive from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $75.69.
Colgate-Palmolive (CL) traded down 1.91% during trading on Monday, reaching $71.87. 2,737,295 shares of the company were exchanged. The firm has a market capitalization of $63.31 billion, a PE ratio of 26.71 and a beta of 0.81. The stock has a 50 day moving average price of $74.80 and a 200 day moving average price of $72.20. Colgate-Palmolive has a 12 month low of $63.43 and a 12 month high of $77.27.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.72. The business had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.89 billion. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. The business’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.70 EPS. On average, analysts expect that Colgate-Palmolive will post $2.92 EPS for the current fiscal year.
In other news, insider Patricia Verduin sold 3,833 shares of Colgate-Palmolive stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $72.41, for a total transaction of $277,547.53. Following the completion of the sale, the insider now directly owns 53,022 shares in the company, valued at $3,839,323.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP John J. Huston sold 14,000 shares of Colgate-Palmolive stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $71.53, for a total transaction of $1,001,420.00. Following the sale, the senior vice president now owns 102,838 shares of the company’s stock, valued at $7,356,002.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,666 shares of company stock valued at $2,144,371. Insiders own 1.02% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Colgate-Palmolive during the fourth quarter valued at about $455,526,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Colgate-Palmolive during the fourth quarter valued at about $189,728,000. TIAA CREF Investment Management LLC boosted its stake in Colgate-Palmolive by 84.2% in the first quarter. TIAA CREF Investment Management LLC now owns 4,554,989 shares of the company’s stock valued at $333,380,000 after buying an additional 2,082,262 shares in the last quarter. Congress Asset Management Co. MA bought a new stake in Colgate-Palmolive during the fourth quarter valued at about $48,550,000. Finally, Swiss National Bank boosted its stake in Colgate-Palmolive by 22.2% in the first quarter. Swiss National Bank now owns 3,667,072 shares of the company’s stock valued at $268,393,000 after buying an additional 666,400 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.
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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