Hsbc Global Res cut shares of Colgate-Palmolive (NYSE:CL – Free Report) from a strong-buy rating to a hold rating in a research note published on Friday, Zacks.com reports.
A number of other research analysts have also issued reports on the stock. Stifel Nicolaus boosted their price target on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the stock a buy rating in a research note on Monday, July 22nd. Bank of America boosted their price objective on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the stock a buy rating in a report on Wednesday, July 10th. TD Cowen initiated coverage on shares of Colgate-Palmolive in a report on Tuesday, July 23rd. They set a buy rating and a $110.00 price objective on the stock. Citigroup boosted their price objective on shares of Colgate-Palmolive from $103.00 to $112.00 and gave the stock a buy rating in a report on Wednesday, July 10th. Finally, Evercore ISI boosted their price objective on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the company an outperform rating in a research report on Thursday, July 18th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $99.42.
Colgate-Palmolive Trading Up 1.5 %
Shares of Colgate-Palmolive stock opened at $100.88 on Friday. Colgate-Palmolive has a 52-week low of $67.62 and a 52-week high of $101.42. The company has a quick ratio of 0.28, a current ratio of 0.42 and a debt-to-equity ratio of 13.21. The company’s 50-day simple moving average is $95.96 and its 200-day simple moving average is $90.34. The firm has a market cap of $82.77 billion, a price-to-earnings ratio of 31.92, a price-to-earnings-growth ratio of 3.57 and a beta of 0.39.
Colgate-Palmolive (NYSE:CL – Get Free Report) last issued its quarterly earnings results on Friday, July 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5 billion. During the same period in the previous year, the business posted $0.77 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Colgate-Palmolive will post 3.55 earnings per share for the current year.
Colgate-Palmolive Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be paid a $0.50 dividend. The ex-dividend date is Friday, July 19th. This represents a $2.00 annualized dividend and a dividend yield of 1.98%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 63.29%.
Insider Activity
In other Colgate-Palmolive news, insider John W. Kooyman sold 3,497 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total transaction of $326,864.59. Following the transaction, the insider now directly owns 3,181 shares in the company, valued at approximately $297,328.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Sally Massey sold 12,226 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $94.06, for a total value of $1,149,977.56. Following the transaction, the insider now directly owns 13,924 shares in the company, valued at approximately $1,309,691.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John W. Kooyman sold 3,497 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total transaction of $326,864.59. Following the completion of the transaction, the insider now owns 3,181 shares in the company, valued at $297,328.07. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the business. Signaturefd LLC increased its holdings in shares of Colgate-Palmolive by 26.5% in the 2nd quarter. Signaturefd LLC now owns 17,705 shares of the company’s stock worth $1,718,000 after acquiring an additional 3,711 shares during the period. Arjuna Capital increased its holdings in shares of Colgate-Palmolive by 0.8% in the 2nd quarter. Arjuna Capital now owns 38,004 shares of the company’s stock worth $3,688,000 after acquiring an additional 314 shares during the period. Bank OZK acquired a new stake in shares of Colgate-Palmolive in the 2nd quarter worth about $212,000. Main Street Research LLC increased its holdings in shares of Colgate-Palmolive by 1.5% in the 2nd quarter. Main Street Research LLC now owns 6,939 shares of the company’s stock worth $673,000 after acquiring an additional 100 shares during the period. Finally, HighMark Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive in the 2nd quarter worth about $291,000. 80.41% of the stock is currently owned by institutional investors.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.
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