Colgate-Palmolive (NYSE:CL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage presently has a $83.00 target price on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 8.24% from the stock’s current price.
According to Zacks, “Colgate has outperformed the industry in the past month. 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.”
A number of other equities research analysts have also weighed in on the stock. Deutsche Bank started coverage on shares of Colgate-Palmolive in a research note on Wednesday, December 13th. They set a “hold” rating and a $75.00 target price on the stock. Morgan Stanley raised 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 note on Monday, September 25th. KeyCorp reaffirmed a “hold” rating on shares of Colgate-Palmolive in a research note on Monday, October 16th. Macquarie raised shares of Colgate-Palmolive from a “neutral” rating to an “outperform” rating and set a $81.00 target price on the stock in a research note on Tuesday, December 19th. Finally, Stifel Nicolaus set a $73.00 target price on shares of Colgate-Palmolive and gave the company a “hold” rating in a research note on Sunday, October 29th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $76.45.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, October 27th. The company reported $0.73 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.73. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.94 billion. Colgate-Palmolive had a net margin of 15.10% and a return on equity of 2,782.56%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.73 EPS. sell-side analysts expect that Colgate-Palmolive will post 2.87 earnings per share for the current year.
In other Colgate-Palmolive news, insider Jennifer Daniels sold 902 shares of Colgate-Palmolive stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $75.82, for a total value of $68,389.64. Following the completion of the transaction, the insider now directly owns 37,788 shares of the company’s stock, valued at $2,865,086.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen I. Sadove sold 20,780 shares of Colgate-Palmolive stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $70.52, for a total transaction 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 181,950 shares of company stock valued at $13,237,385. 1.02% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of CL. Country Club Trust Company n.a. raised its holdings in Colgate-Palmolive by 2.1% in the second quarter. Country Club Trust Company n.a. now owns 3,566 shares of the company’s stock worth $264,000 after buying an additional 75 shares during the last quarter. Oakmont Partners LLC purchased a new position in Colgate-Palmolive in the second quarter worth about $202,000. Dynamic Advisors Solutions LLC raised its holdings in Colgate-Palmolive by 4.8% in the second quarter. Dynamic Advisors Solutions LLC now owns 8,106 shares of the company’s stock worth $601,000 after buying an additional 371 shares during the last quarter. Atria Investments LLC grew its stake in shares of Colgate-Palmolive by 12.1% in the second quarter. Atria Investments LLC now owns 4,745 shares of the company’s stock worth $352,000 after acquiring an additional 511 shares during the period. Finally, Private Trust Co. NA grew its stake in shares of Colgate-Palmolive by 2.3% in the second quarter. Private Trust Co. NA now owns 27,085 shares of the company’s stock worth $2,007,000 after acquiring an additional 597 shares during the period. 72.86% 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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