Colgate-Palmolive (CL) Lowered to Hold at Zacks Investment Research
Colgate-Palmolive (NYSE:CL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.
According to Zacks, “Colgate has outperformed the industry in the past month. The company is encouraged by the progress on the Global Growth and Efficiency Program along with additional savings anticipated from the recent expansion of the program. Moreover, the company has been infamous among investors with its meet or beat earnings track record. Though it posted in-line earnings and topped sales estimates in third-quarter 2017, margins remained strained due to increased raw material and packaging costs, as well as higher advertising expenses. Further, it anticipates these costs to persist and impact margins in 2017. The company also perked up its costs guidance related to charges arising from the expansion and extension of the Global Growth and Efficiency Program through Dec 31, 2019. Nonetheless, Colgate’s shareholder-friendly moves remain noteworthy. Estimates have been stable lately ahead of the fourth quarter earnings release.”
Other research analysts have also recently issued reports about the stock. SunTrust Banks upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and increased their price target for the company from $65.00 to $85.00 in a research report on Wednesday, October 11th. Deutsche Bank initiated coverage on shares of Colgate-Palmolive in a research report on Wednesday, December 13th. They set a “hold” rating and a $75.00 price target on the stock. Royal Bank of Canada reiterated a “hold” rating and set a $74.00 price target on shares of Colgate-Palmolive in a research report on Sunday, October 8th. Jefferies Group reiterated a “hold” rating and set a $79.00 price target on shares of Colgate-Palmolive in a research report on Thursday, September 28th. Finally, Stifel Nicolaus set a $73.00 price target on shares of Colgate-Palmolive and gave the company a “hold” rating in a research report on Sunday, October 29th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $76.51.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, October 27th. The company reported $0.73 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.73. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.94 billion. Colgate-Palmolive had a net margin of 15.10% and a return on equity of 2,782.56%. Colgate-Palmolive’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.73 earnings per share. equities analysts anticipate that Colgate-Palmolive will post 2.88 earnings per share for the current fiscal year.
In other Colgate-Palmolive news, insider Jennifer Daniels sold 7,375 shares of the firm’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $73.18, for a total transaction of $539,702.50. Following the completion of the transaction, the insider now owns 38,691 shares of the company’s stock, valued at $2,831,407.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Victoria L. Dolan sold 9,000 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $73.41, for a total value of $660,690.00. The disclosure for this sale can be found here. Insiders sold 181,950 shares of company stock valued at $13,237,385 in the last ninety days. 1.02% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Jacobi Capital Management LLC increased its holdings in shares of Colgate-Palmolive by 125.5% during the third quarter. Jacobi Capital Management LLC now owns 1,443 shares of the company’s stock valued at $104,000 after acquiring an additional 803 shares in the last quarter. Krilogy Financial LLC increased its holdings in Colgate-Palmolive by 23.0% in the 2nd quarter. Krilogy Financial LLC now owns 1,547 shares of the company’s stock worth $115,000 after buying an additional 289 shares in the last quarter. Hanson & Doremus Investment Management increased its holdings in Colgate-Palmolive by 4.5% in the 2nd quarter. Hanson & Doremus Investment Management now owns 1,630 shares of the company’s stock worth $121,000 after buying an additional 70 shares in the last quarter. Captrust Financial Advisors bought a new stake in Colgate-Palmolive in the 2nd quarter worth about $122,000. Finally, AlphaMark Advisors LLC increased its holdings in Colgate-Palmolive by 1.5% in the 2nd quarter. AlphaMark Advisors LLC now owns 1,698 shares of the company’s stock worth $126,000 after buying an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 72.86% of the company’s stock.
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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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