Colgate-Palmolive (NYSE:CL) Research Coverage Started at Berenberg Bank

Berenberg Bank initiated coverage on shares of Colgate-Palmolive (NYSE:CL) in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. The brokerage issued a sell rating and a $58.00 price objective on the stock.

Several other research firms also recently weighed in on CL. JPMorgan Chase & Co. dropped their target price on shares of Colgate-Palmolive from $78.00 to $76.00 and set a neutral rating on the stock in a research report on Monday, October 14th. Wells Fargo & Co lifted their target price on shares of Colgate-Palmolive from $68.00 to $70.00 and gave the stock a market perform rating in a research report on Monday, July 29th. Piper Jaffray Companies initiated coverage on shares of Colgate-Palmolive in a research report on Tuesday, August 13th. They issued an overweight rating on the stock. Deutsche Bank boosted their price objective on shares of Colgate-Palmolive from $74.00 to $76.00 and gave the company a hold rating in a research report on Friday, July 12th. Finally, Bank of America set a $80.00 price objective on shares of Colgate-Palmolive and gave the company a buy rating in a research report on Friday, July 12th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $73.40.

Colgate-Palmolive stock opened at $68.03 on Wednesday. The firm’s 50 day simple moving average is $71.83 and its 200-day simple moving average is $71.69. The company has a market cap of $58.41 billion, a P/E ratio of 22.91, a price-to-earnings-growth ratio of 4.48 and a beta of 0.75. Colgate-Palmolive has a fifty-two week low of $57.41 and a fifty-two week high of $76.41.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, July 26th. The company reported $0.72 earnings per share for the quarter, hitting the consensus estimate of $0.72. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.88 billion. Colgate-Palmolive had a net margin of 14.77% and a negative return on equity of 10,821.98%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the firm posted $0.77 earnings per share. As a group, research analysts predict that Colgate-Palmolive will post 2.83 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Wednesday, October 23rd will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Tuesday, October 22nd. Colgate-Palmolive’s payout ratio is presently 57.91%.

In other Colgate-Palmolive news, CFO Henning I. Jakobsen sold 858 shares of Colgate-Palmolive stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $74.60, for a total value of $64,006.80. Following the completion of the sale, the chief financial officer now directly owns 39,031 shares in the company, valued at $2,911,712.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Henning I. Jakobsen sold 33,854 shares of Colgate-Palmolive stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $73.45, for a total transaction of $2,486,576.30. Following the completion of the sale, the chief financial officer now owns 73,693 shares of the company’s stock, valued at $5,412,750.85. The disclosure for this sale can be found here. Insiders have sold 567,548 shares of company stock worth $40,703,240 over the last ninety days. 1.14% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Colgate-Palmolive by 1.4% in the second quarter. Vanguard Group Inc. now owns 76,502,840 shares of the company’s stock worth $5,482,958,000 after buying an additional 1,056,530 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Colgate-Palmolive by 0.5% in the second quarter. BlackRock Inc. now owns 60,205,815 shares of the company’s stock worth $4,314,949,000 after buying an additional 279,887 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Colgate-Palmolive by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 20,354,779 shares of the company’s stock worth $1,458,828,000 after buying an additional 573,566 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Colgate-Palmolive by 201.8% in the second quarter. Invesco Ltd. now owns 8,642,044 shares of the company’s stock worth $619,374,000 after buying an additional 5,778,145 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Colgate-Palmolive by 29.1% in the first quarter. FMR LLC now owns 7,384,604 shares of the company’s stock worth $506,141,000 after buying an additional 1,665,348 shares during the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.

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Analyst Recommendations for Colgate-Palmolive (NYSE:CL)

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