Colgate-Palmolive Company (CL) Given Average Rating of “Hold” by Analysts
Shares of Colgate-Palmolive Company (NYSE:CL) have been assigned a consensus rating of “Hold” from the seventeen analysts that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $75.22.
Several equities analysts have weighed in on the stock. Bank of America Corporation lifted their price target on shares of Colgate-Palmolive from $78.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, May 31st. BidaskClub downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Vetr downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $76.67 price target on the stock. in a report on Wednesday, May 17th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $74.00 price target on shares of Colgate-Palmolive in a report on Thursday, May 25th. Finally, Jefferies Group LLC initiated coverage on shares of Colgate-Palmolive in a report on Tuesday, April 18th. They set a “hold” rating and a $78.00 price target on the stock.
In related news, CFO Dennis J. Hickey sold 73,872 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $71.80, for a total value of $5,304,009.60. Following the sale, the chief financial officer now owns 484,985 shares in the company, valued at $34,821,923. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Justin Skala sold 74,374 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $72.51, for a total transaction of $5,392,858.74. Following the completion of the sale, the chief operating officer now owns 97,177 shares in the company, valued at approximately $7,046,304.27. The disclosure for this sale can be found here. Insiders sold 217,969 shares of company stock worth $15,710,108 in the last 90 days. 1.02% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Colgate-Palmolive by 2.4% in the second quarter. Vanguard Group Inc. now owns 67,875,384 shares of the company’s stock worth $5,031,602,000 after buying an additional 1,621,392 shares during the period. Bank of New York Mellon Corp boosted its position in Colgate-Palmolive by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 18,821,363 shares of the company’s stock worth $1,377,537,000 after buying an additional 169,798 shares during the period. Renaissance Technologies LLC boosted its position in Colgate-Palmolive by 42.4% in the second quarter. Renaissance Technologies LLC now owns 9,753,400 shares of the company’s stock worth $723,020,000 after buying an additional 2,903,800 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Colgate-Palmolive by 25.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 6,854,323 shares of the company’s stock worth $508,111,000 after buying an additional 1,385,946 shares during the period. Finally, First Eagle Investment Management LLC boosted its position in Colgate-Palmolive by 2.3% in the second quarter. First Eagle Investment Management LLC now owns 4,891,131 shares of the company’s stock worth $362,580,000 after buying an additional 108,850 shares during the period. Institutional investors own 73.69% of the company’s stock.
Colgate-Palmolive (NYSE CL) traded up 0.49% during mid-day trading on Tuesday, hitting $71.80. 2,307,919 shares of the stock traded hands. Colgate-Palmolive has a 1-year low of $63.43 and a 1-year high of $77.27. The stock has a market cap of $63.24 billion, a price-to-earnings ratio of 26.68 and a beta of 0.80. The company’s 50 day moving average price is $72.71 and its 200-day moving average price is $72.83.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, July 21st. The company reported $0.72 earnings per share for the quarter, meeting the consensus estimate of $0.72. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. The business had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the previous year, the firm earned $0.70 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. Analysts predict that Colgate-Palmolive will post $2.89 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, July 18th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.23%. The ex-dividend date is Friday, July 14th. Colgate-Palmolive’s dividend payout ratio is presently 59.48%.
Colgate-Palmolive 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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