Colgate-Palmolive Company (CL) Announces Earnings Results
Colgate-Palmolive Company (NYSE:CL) announced its quarterly earnings results on Friday. The company reported $0.73 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.73, Bloomberg Earnings reports. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.94 billion. Colgate-Palmolive had a return on equity of 3,121.95% and a net margin of 15.83%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.73 EPS.
Colgate-Palmolive (NYSE CL) traded down 1.14% during midday trading on Friday, hitting $70.40. The company had a trading volume of 8,703,970 shares. Colgate-Palmolive has a 52 week low of $63.43 and a 52 week high of $77.27. The company has a market capitalization of $62.01 billion, a P/E ratio of 26.16 and a beta of 0.81. The stock has a 50 day moving average price of $72.84 and a 200 day moving average price of $73.18.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, October 23rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, October 20th. This represents a $1.60 annualized dividend and a dividend yield of 2.27%. Colgate-Palmolive’s dividend payout ratio is presently 59.48%.
CL has been the topic of a number of analyst reports. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a research note on Tuesday, July 4th. SunTrust Banks, Inc. raised Colgate-Palmolive from a “hold” rating to a “buy” rating and lifted their price target for the stock from $65.00 to $85.00 in a research note on Wednesday, October 11th. Jefferies Group LLC lifted their price target on Colgate-Palmolive from $76.00 to $77.00 and gave the stock a “hold” rating in a research note on Thursday, July 6th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $74.00 price target on shares of Colgate-Palmolive in a research note on Friday, June 30th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $75.00 price target on shares of Colgate-Palmolive in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $76.79.
In other Colgate-Palmolive news, CFO Dennis J. Hickey sold 73,872 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $71.80, for a total transaction of $5,304,009.60. Following the sale, the chief financial officer now owns 484,985 shares of the company’s stock, valued at approximately $34,821,923. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ellen M. Hancock sold 5,057 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $71.91, for a total value of $363,648.87. Following the sale, the director now directly owns 199,777 shares in the company, valued at approximately $14,365,964.07. The disclosure for this sale can be found here. Insiders have sold a total of 131,762 shares of company stock worth $9,443,766 in the last ninety days. Insiders own 1.02% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in CL. American Beacon Advisors Inc. bought a new stake in Colgate-Palmolive during the 1st quarter valued at $102,000. Proficio Capital Partners LLC boosted its position in Colgate-Palmolive by 16.9% during the 1st quarter. Proficio Capital Partners LLC now owns 1,432 shares of the company’s stock valued at $107,000 after acquiring an additional 207 shares in the last quarter. OLD Second National Bank of Aurora bought a new stake in Colgate-Palmolive during the 2nd quarter valued at $109,000. Krilogy Financial LLC boosted its position in Colgate-Palmolive by 23.0% during the 2nd quarter. Krilogy Financial LLC now owns 1,547 shares of the company’s stock valued at $115,000 after acquiring an additional 289 shares in the last quarter. Finally, Harbour Capital Advisors LLC bought a new stake in Colgate-Palmolive during the 1st quarter valued at $121,000. 73.02% of the stock is currently owned by institutional investors and hedge funds.
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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