Colgate-Palmolive (NYSE:CL) Hits New 12-Month High on Better-Than-Expected Earnings

Colgate-Palmolive (NYSE:CL) reached a new 52-week high during trading on Friday following a stronger than expected earnings report. The stock traded as high as $92.25 and last traded at $90.36, with a volume of 1518931 shares traded. The stock had previously closed at $89.29.

The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. The company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.96 billion. Colgate-Palmolive had a return on equity of 509.75% and a net margin of 11.82%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.73 earnings per share.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 22nd will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Friday, April 19th. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.48. Colgate-Palmolive’s dividend payout ratio is currently 71.94%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CL. Wells Fargo & Company upped their target price on Colgate-Palmolive from $80.00 to $88.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. Citigroup increased their price objective on Colgate-Palmolive from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Raymond James upgraded Colgate-Palmolive from a “market perform” rating to an “outperform” rating and set a $91.00 price objective for the company in a report on Monday, January 29th. StockNews.com cut Colgate-Palmolive from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Finally, Morgan Stanley increased their price objective on Colgate-Palmolive from $85.00 to $93.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.50.

Insider Transactions at Colgate-Palmolive

In other news, insider Jennifer Daniels sold 61,633 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $83.93, for a total value of $5,172,857.69. Following the transaction, the insider now owns 57,948 shares of the company’s stock, valued at $4,863,575.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Jennifer Daniels sold 61,633 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $83.93, for a total transaction of $5,172,857.69. Following the sale, the insider now owns 57,948 shares of the company’s stock, valued at approximately $4,863,575.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregory Malcolm sold 8,930 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $85.35, for a total value of $762,175.50. Following the sale, the executive vice president now directly owns 8,043 shares in the company, valued at approximately $686,470.05. The disclosure for this sale can be found here. Insiders have sold 232,371 shares of company stock valued at $19,505,099 over the last quarter. 0.34% of the stock is currently owned by company insiders.

Institutional Trading of Colgate-Palmolive

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vest Financial LLC grew its holdings in Colgate-Palmolive by 25.1% during the 4th quarter. Vest Financial LLC now owns 370,071 shares of the company’s stock valued at $29,498,000 after buying an additional 74,337 shares in the last quarter. Central Bank & Trust Co. grew its holdings in Colgate-Palmolive by 22.1% during the 4th quarter. Central Bank & Trust Co. now owns 1,383 shares of the company’s stock valued at $110,000 after buying an additional 250 shares in the last quarter. Dynamic Advisor Solutions LLC grew its holdings in Colgate-Palmolive by 9.2% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 10,808 shares of the company’s stock valued at $864,000 after buying an additional 910 shares in the last quarter. Sarasin & Partners LLP grew its holdings in Colgate-Palmolive by 1.2% during the 4th quarter. Sarasin & Partners LLP now owns 4,053,634 shares of the company’s stock valued at $323,115,000 after buying an additional 49,980 shares in the last quarter. Finally, Cornerstone Wealth Management LLC grew its holdings in Colgate-Palmolive by 2.5% during the 4th quarter. Cornerstone Wealth Management LLC now owns 7,170 shares of the company’s stock valued at $571,000 after buying an additional 172 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

The firm has a market cap of $74.12 billion, a PE ratio of 32.59, a PEG ratio of 3.34 and a beta of 0.42. The company has a debt-to-equity ratio of 8.59, a quick ratio of 0.71 and a current ratio of 1.11. The firm has a fifty day simple moving average of $87.51 and a two-hundred day simple moving average of $81.30.

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.