Zacks Investment Research upgraded shares of Colgate-Palmolive (NYSE:CL) from a hold rating to a buy rating in a research report report published on Monday. Zacks Investment Research currently has $84.00 price objective on the stock.
According to Zacks, “Colgate has outperformed the industry in the last three months. The company is encouraged by the progress on the Global Growth and Efficiency Program along with additional savings anticipated from the recent expansion of the program. Moreover, the company has been infamous among investors with its meet or beat earnings track record. Though it posted in-line earnings and topped sales estimates in third-quarter 2017, margins remained strained due to increased raw material and packaging costs, as well as higher advertising expenses. Further, it anticipates these costs to persist and impact margins in 2017. The company also 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. Nonetheless, Colgate’s shareholder-friendly moves remain noteworthy. Estimates have been stable lately ahead of the fourth quarter earnings release.”
Other research analysts have also issued reports about the company. Royal Bank of Canada reissued a hold rating and issued a $74.00 price objective on shares of Colgate-Palmolive in a research report on Sunday, October 8th. Jefferies Group lowered their price objective on Colgate-Palmolive from $79.00 to $76.00 and set a hold rating for the company in a research report on Monday, October 30th. Morgan Stanley raised Colgate-Palmolive from an equal weight rating to an overweight rating and lifted their price objective for the stock from $75.00 to $84.00 in a research report on Monday, September 25th. Macquarie began coverage on Colgate-Palmolive in a research report on Thursday, September 14th. They issued a neutral rating and a $76.00 price objective for the company. Finally, Deutsche Bank began coverage on Colgate-Palmolive in a research report on Wednesday, December 13th. They issued a hold rating and a $75.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. Colgate-Palmolive presently has an average rating of Hold and a consensus target price of $76.51.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, October 27th. The company reported $0.73 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.73. Colgate-Palmolive had a return on equity of 2,782.56% and a net margin of 15.10%. The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same period last year, the company posted $0.73 EPS. The business’s quarterly revenue was up 2.8% on a year-over-year basis. equities analysts anticipate that Colgate-Palmolive will post 2.88 earnings per share for the current fiscal year.
In other news, COO Justin Skala sold 126,393 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $72.97, for a total value of $9,222,897.21. Following the completion of the sale, the chief operating officer now directly owns 262,361 shares in the company, valued at approximately $19,144,482.17. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Stephen I. Sadove sold 20,780 shares of the firm’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 sale, the director now owns 36,268 shares of the company’s stock, valued at $2,557,619.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 181,048 shares of company stock valued at $13,168,995. 1.02% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Jacobi Capital Management LLC boosted its stake in Colgate-Palmolive by 125.5% during the 3rd quarter. Jacobi Capital Management LLC now owns 1,443 shares of the company’s stock valued at $104,000 after purchasing an additional 803 shares during the last quarter. Krilogy Financial LLC boosted its stake in Colgate-Palmolive by 23.0% during the 2nd quarter. Krilogy Financial LLC now owns 1,547 shares of the company’s stock valued at $115,000 after purchasing an additional 289 shares during the last quarter. Hanson & Doremus Investment Management boosted its stake in Colgate-Palmolive by 4.5% during the 2nd quarter. Hanson & Doremus Investment Management now owns 1,630 shares of the company’s stock valued at $121,000 after purchasing an additional 70 shares during the last quarter. Captrust Financial Advisors acquired a new position in Colgate-Palmolive during the 2nd quarter valued at about $122,000. Finally, Harbour Capital Advisors LLC acquired a new position in Colgate-Palmolive during the 1st quarter valued at about $121,000. Institutional investors and hedge funds own 72.83% of the company’s stock.
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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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