Colgate-Palmolive (NYSE:CL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, December 19th.
According to Zacks, “Colgate, which has lagged the industry in the past six months, witnessed strained margins lately. This stemmed from increased raw material and packaging costs, as well as higher advertising expenses. Further, it anticipates the aforementioned costs to persist and impact margins in 2017. Additionally, the company 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. This is also likely to put near-term pressure on the results. Nonetheless, the company is encouraged by the progress and prospects from this program, with additional savings anticipated from this recent expansion. Also, the company with a meet or beat earnings track record, has been gaining from its robust brands portfolio and constant innovations. Colgate’s shareholder-friendly moves also remain noteworthy. Estimates have been stable lately ahead of fourth-quarter earnings.”
Several other analysts have also weighed in on the stock. Royal Bank of Canada reiterated a “hold” rating and set a $74.00 target price on shares of Colgate-Palmolive in a research report on Sunday, October 8th. Jefferies Group decreased their target price on shares of Colgate-Palmolive from $79.00 to $76.00 and set a “hold” rating on the stock in a research report on Monday, October 30th. Morgan Stanley upgraded shares of Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $75.00 to $84.00 in a research report on Monday, September 25th. Macquarie assumed coverage on shares of Colgate-Palmolive in a research report on Thursday, September 14th. They set a “neutral” rating and a $76.00 target price on the stock. Finally, Societe Generale lowered shares of Colgate-Palmolive from a “hold” rating to a “sell” rating and set a $66.00 target price on the stock. in a research report on Wednesday, November 29th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the stock. Colgate-Palmolive currently has an average rating of “Hold” and an average target price of $76.51.
Shares of Colgate-Palmolive (NYSE CL) traded up $0.07 on Tuesday, reaching $74.62. 2,338,181 shares of the company traded hands, compared to its average volume of 3,030,000. The company has a market cap of $65,520.00, a P/E ratio of 28.81, a PEG ratio of 3.15 and a beta of 0.81. Colgate-Palmolive has a 12-month low of $63.43 and a 12-month high of $77.27. The company has a quick ratio of 0.92, a current ratio of 1.23 and a debt-to-equity ratio of 24.42.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, October 27th. The company reported $0.73 EPS for the quarter, hitting the consensus estimate of $0.73. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.94 billion. Colgate-Palmolive had a net margin of 15.10% and a return on equity of 2,782.56%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.73 EPS. equities research analysts forecast that Colgate-Palmolive will post 2.88 EPS for the current year.
In other Colgate-Palmolive news, Director Stephen I. Sadove sold 20,780 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $70.52, for a total value of $1,465,405.60. Following the completion of the transaction, the director now directly owns 36,268 shares of the company’s stock, valued at $2,557,619.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Justin Skala sold 126,393 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $72.97, for a total transaction of $9,222,897.21. Following the completion of the transaction, the chief operating officer now directly owns 262,361 shares of the company’s stock, valued at $19,144,482.17. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 181,950 shares of company stock valued at $13,237,385. Insiders own 1.02% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Chip Partners Inc. raised its stake in shares of Colgate-Palmolive by 0.4% during the second quarter. Blue Chip Partners Inc. now owns 1,813 shares of the company’s stock worth $134,000 after buying an additional 8 shares during the last quarter. Cue Financial Group Inc. increased its stake in Colgate-Palmolive by 0.3% in the second quarter. Cue Financial Group Inc. now owns 4,854 shares of the company’s stock valued at $360,000 after purchasing an additional 14 shares in the last quarter. AlphaMark Advisors LLC increased its stake in Colgate-Palmolive by 1.5% in the second quarter. AlphaMark Advisors LLC now owns 1,698 shares of the company’s stock valued at $126,000 after purchasing an additional 25 shares in the last quarter. Capital Investment Advisors LLC increased its stake in Colgate-Palmolive by 0.3% in the second quarter. Capital Investment Advisors LLC now owns 8,318 shares of the company’s stock valued at $617,000 after purchasing an additional 27 shares in the last quarter. Finally, Weatherstone Capital Management increased its stake in Colgate-Palmolive by 0.7% in the second quarter. Weatherstone Capital Management now owns 4,069 shares of the company’s stock valued at $302,000 after purchasing an additional 28 shares in the last quarter. 72.83% of the stock is owned by institutional investors and hedge funds.
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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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