Colgate-Palmolive Company (NYSE:CL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Colgate has outperformed the broader sector year to date given its continued focus on product innovation. This along with globally recognized brands and presence in both developed and emerging markets enable it to capture growth opportunities and boost profitability. Further, better pricing, emerging market growth and execution of its cost-saving programs promise strong margins growth. However, currency headwinds have been weighing on the company’s top line for a while now. Colgate has lagged sales estimates for three straight quarters now, marking a miss in 6 of the last 7 quarters. Additionally, the company expects a challenging backdrop in 2017 owing to uncertain global markets and lingering currency headwinds. This is expected to hurt both top and bottom line results in 2017. Nonetheless, Colgate expects solid organic sales growth in 2017 backed by new product launches, appealing marketing and advertising programs.”
A number of other equities analysts have also weighed in on CL. Barclays PLC reiterated a “hold” rating and issued a $63.00 price target on shares of Colgate-Palmolive Company in a research report on Tuesday, January 10th. B. Riley reiterated a “neutral” rating and issued a $74.00 price target on shares of Colgate-Palmolive Company in a research report on Friday, February 3rd. Vetr lowered Colgate-Palmolive Company from a “hold” rating to a “sell” rating and set a $69.00 price target for the company. in a research report on Monday, February 20th. Stifel Nicolaus decreased their price target on Colgate-Palmolive Company from $75.00 to $70.00 and set a “hold” rating for the company in a research report on Monday, January 30th. Finally, Berenberg Bank assumed coverage on Colgate-Palmolive Company in a research report on Wednesday, January 25th. They issued a “hold” rating and a $68.00 price target for the company. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $74.00.
Colgate-Palmolive Company (NYSE:CL) opened at 73.80 on Friday. The stock has a market cap of $65.15 billion, a PE ratio of 27.13 and a beta of 0.70. The firm has a 50-day moving average price of $70.48 and a 200-day moving average price of $69.62. Colgate-Palmolive Company has a 12-month low of $63.43 and a 12-month high of $75.38.
Colgate-Palmolive Company (NYSE:CL) last released its quarterly earnings results on Friday, January 27th. The company reported $0.75 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.75. Colgate-Palmolive Company had a return on equity of 4,897.09% and a net margin of 16.06%. The business earned $3.72 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same quarter last year, the company posted $0.73 EPS. Colgate-Palmolive Company’s revenue for the quarter was down 4.6% on a year-over-year basis. Analysts forecast that Colgate-Palmolive Company will post $2.93 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Friday, April 21st will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, April 19th. This is an increase from Colgate-Palmolive Company’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.17%. Colgate-Palmolive Company’s dividend payout ratio (DPR) is 57.35%.
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In other news, Director Stephen I. Sadove sold 8,000 shares of the stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $66.00, for a total transaction of $528,000.00. Following the transaction, the director now owns 33,761 shares of the company’s stock, valued at approximately $2,228,226. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Patricia Verduin sold 3,833 shares of the stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $65.99, for a total value of $252,939.67. Following the transaction, the insider now directly owns 54,924 shares in the company, valued at approximately $3,624,434.76. The disclosure for this sale can be found here. Insiders have sold a total of 12,701 shares of company stock valued at $838,766 over the last ninety days. Company insiders own 1.05% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Washington Trust Bank raised its stake in Colgate-Palmolive Company by 10.1% in the third quarter. Washington Trust Bank now owns 3,955 shares of the company’s stock worth $293,000 after buying an additional 362 shares during the period. CT Mason increased its position in Colgate-Palmolive Company by 20.0% in the third quarter. CT Mason now owns 41,924 shares of the company’s stock valued at $3,108,000 after buying an additional 6,980 shares during the period. LVM Capital Management Ltd. MI increased its position in Colgate-Palmolive Company by 21.2% in the third quarter. LVM Capital Management Ltd. MI now owns 4,000 shares of the company’s stock valued at $273,000 after buying an additional 700 shares during the period. Bath Savings Trust Co increased its position in Colgate-Palmolive Company by 1.6% in the third quarter. Bath Savings Trust Co now owns 112,187 shares of the company’s stock valued at $8,317,000 after buying an additional 1,750 shares during the period. Finally, Cullinan Associates Inc. increased its position in Colgate-Palmolive Company by 0.6% in the third quarter. Cullinan Associates Inc. now owns 210,313 shares of the company’s stock valued at $15,593,000 after buying an additional 1,223 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, whose products are marketed in over 200 countries and territories throughout the world. The Company’s segments include Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through over five geographic segments, which include North America, Latin America, Europe/South Pacific, Asia and Africa/Eurasia.
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