Colgate-Palmolive (NYSE:CL) had its price target reduced by Wells Fargo & Co from $64.00 to $62.00 in a research note published on Wednesday. Wells Fargo & Co currently has a market perform rating on the stock.
Several other research analysts have also recently issued reports on CL. Morgan Stanley dropped their target price on Colgate-Palmolive from $69.00 to $67.00 and set an equal weight rating on the stock in a research report on Thursday, June 21st. Zacks Investment Research cut Colgate-Palmolive from a hold rating to a sell rating in a research report on Friday, October 5th. Stifel Nicolaus dropped their target price on Colgate-Palmolive from $75.00 to $73.00 and set a hold rating on the stock in a research report on Monday, July 23rd. Citigroup dropped their target price on Colgate-Palmolive from $70.00 to $68.00 and set a neutral rating on the stock in a research report on Tuesday, July 31st. Finally, Barclays set a $64.00 target price on Colgate-Palmolive and gave the stock a hold rating in a research report on Monday, July 30th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. Colgate-Palmolive currently has a consensus rating of Hold and a consensus price target of $70.79.
NYSE CL traded down $0.74 during trading hours on Wednesday, hitting $62.81. The company’s stock had a trading volume of 165,385 shares, compared to its average volume of 3,958,560. Colgate-Palmolive has a 12 month low of $61.28 and a 12 month high of $77.91. The company has a market capitalization of $58.10 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 2.99 and a beta of 0.72. The company has a debt-to-equity ratio of -34.49, a quick ratio of 0.74 and a current ratio of 1.06.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, July 27th. The company reported $0.77 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.77. The business had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.91 billion. Colgate-Palmolive had a return on equity of 2,494.79% and a net margin of 13.97%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period last year, the firm posted $0.72 earnings per share. On average, equities analysts predict that Colgate-Palmolive will post 3.02 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Friday, October 19th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, October 18th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.67%. Colgate-Palmolive’s payout ratio is currently 58.54%.
In other news, VP Justin Skala sold 90,069 shares of Colgate-Palmolive stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $66.36, for a total transaction of $5,976,978.84. Following the transaction, the vice president now directly owns 65,061 shares of the company’s stock, valued at approximately $4,317,447.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Dennis J. Hickey sold 120,000 shares of Colgate-Palmolive stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $65.72, for a total value of $7,886,400.00. Following the transaction, the insider now directly owns 202,414 shares in the company, valued at $13,302,648.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 395,779 shares of company stock worth $26,108,856. Insiders own 1.02% of the company’s stock.
Several hedge funds have recently bought and sold shares of CL. Macquarie Group Ltd. lifted its holdings in Colgate-Palmolive by 203.2% in the 2nd quarter. Macquarie Group Ltd. now owns 34,569 shares of the company’s stock worth $2,241,000 after purchasing an additional 23,169 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Colgate-Palmolive by 823.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,077 shares of the company’s stock worth $718,000 after purchasing an additional 9,877 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Colgate-Palmolive by 2.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,233,699 shares of the company’s stock worth $209,577,000 after purchasing an additional 70,318 shares in the last quarter. Fundsmith Equity Fund L.P. purchased a new position in Colgate-Palmolive in the 2nd quarter worth approximately $232,451,000. Finally, Centaurus Financial Inc. lifted its holdings in Colgate-Palmolive by 147.5% in the 2nd quarter. Centaurus Financial Inc. now owns 8,262 shares of the company’s stock worth $535,000 after purchasing an additional 4,924 shares in the last quarter. 74.54% of the stock is currently owned by hedge funds and other institutional investors.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
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