CL has been the subject of several other research reports. SunTrust Banks, Inc. raised Colgate-Palmolive from a hold rating to a buy rating and lifted their price target for the stock from $65.00 to $85.00 in a research report on Wednesday, October 11th. Royal Bank Of Canada reaffirmed a hold rating and issued a $74.00 price target on shares of Colgate-Palmolive in a research report on Sunday, October 8th. Zacks Investment Research lowered Colgate-Palmolive from a hold rating to a sell rating in a research report on Thursday, July 27th. BidaskClub lowered Colgate-Palmolive from a sell rating to a strong sell rating in a research report on Wednesday, July 12th. Finally, Jefferies Group LLC reaffirmed a hold rating and issued a $79.00 price target on shares of Colgate-Palmolive in a research report on Thursday, August 24th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $76.79.
Shares of Colgate-Palmolive (CL) traded down 1.70% during mid-day trading on Friday, reaching $69.20. 4,440,282 shares of the company’s stock were exchanged. The firm has a market capitalization of $60.95 billion, a P/E ratio of 25.72 and a beta of 0.81. Colgate-Palmolive has a one year low of $63.43 and a one year high of $77.27. The stock has a 50-day moving average of $72.80 and a 200 day moving average of $73.14.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, October 27th. The company reported $0.73 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.73. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.94 billion. Colgate-Palmolive’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.73 EPS. On average, analysts forecast that Colgate-Palmolive will post $2.89 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, October 23rd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, October 20th. This represents a $1.60 annualized dividend and a yield of 2.31%. Colgate-Palmolive’s payout ratio is 61.78%.
In other Colgate-Palmolive news, CFO Dennis J. Hickey sold 73,872 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $71.80, for a total transaction of $5,304,009.60. Following the completion of the sale, the chief financial officer now directly owns 484,985 shares in the company, valued at approximately $34,821,923. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP John J. Huston sold 14,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $71.36, for a total value of $999,040.00. Following the sale, the senior vice president now owns 88,598 shares of the company’s stock, valued at $6,322,353.28. The disclosure for this sale can be found here. Insiders sold a total of 131,762 shares of company stock valued at $9,443,766 over the last quarter. 1.02% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Alliancebernstein L.P. grew its stake in shares of Colgate-Palmolive by 4.2% during the 1st quarter. Alliancebernstein L.P. now owns 1,899,356 shares of the company’s stock valued at $139,014,000 after purchasing an additional 77,414 shares during the period. Israel Discount Bank of New York bought a new stake in shares of Colgate-Palmolive during the 1st quarter valued at about $1,349,000. Principal Financial Group Inc. grew its stake in shares of Colgate-Palmolive by 0.6% during the 1st quarter. Principal Financial Group Inc. now owns 1,271,008 shares of the company’s stock valued at $93,025,000 after purchasing an additional 7,905 shares during the period. Personal Capital Advisors Corp grew its stake in shares of Colgate-Palmolive by 5.8% during the 2nd quarter. Personal Capital Advisors Corp now owns 394,028 shares of the company’s stock valued at $29,209,000 after purchasing an additional 21,456 shares during the period. Finally, Shelton Capital Management grew its stake in shares of Colgate-Palmolive by 37.2% during the 1st quarter. Shelton Capital Management now owns 41,487 shares of the company’s stock valued at $3,036,000 after purchasing an additional 11,242 shares during the period. Institutional investors and hedge funds own 73.45% of the company’s stock.
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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