Zacks Investment Research upgraded shares of Colgate-Palmolive Company (NYSE:CL) from a sell rating to a hold rating in a research report sent to investors on Wednesday, November 8th.
According to Zacks, “Colgate 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 primarily due to increased raw material and packaging costs, as well as higher advertising expenses. Further, it anticipates the aforementioned costs to persist and impact margins in 2017. Additionally, the company 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. This is also likely to put near-term pressure on the results. Notably, the stock has underperformed the industry year to date. Estimates have been going down lately following the third quarter results.”
Several other research analysts have also weighed in on the stock. Citigroup Inc. cut their price objective on shares of Colgate-Palmolive from $76.00 to $75.00 and set a neutral rating on the stock in a report on Thursday, November 2nd. Morgan Stanley dropped their target price on shares of Colgate-Palmolive from $84.00 to $83.00 and set an overweight rating for the company in a research report on Tuesday, October 31st. Jefferies Group LLC dropped their target price on shares of Colgate-Palmolive from $79.00 to $76.00 and set a hold rating for the company in a research report on Monday, October 30th. Stifel Nicolaus set a $73.00 target price on shares of Colgate-Palmolive and gave the stock a hold rating in a research report on Sunday, October 29th. Finally, KeyCorp reissued a hold rating on shares of Colgate-Palmolive in a research report on Monday, October 16th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. Colgate-Palmolive has an average rating of Hold and a consensus price target of $76.67.
Colgate-Palmolive (CL) traded up $0.18 during trading hours on Wednesday, reaching $72.07. 2,799,500 shares of the company’s stock were exchanged, compared to its average volume of 3,625,815. The stock has a market cap of $63,290.00, a price-to-earnings ratio of 25.05, a price-to-earnings-growth ratio of 3.29 and a beta of 0.80. Colgate-Palmolive has a 52 week low of $63.43 and a 52 week high of $77.27. The company has a debt-to-equity ratio of 24.42, a quick ratio of 0.92 and a current ratio of 1.23.
Colgate-Palmolive (NYSE:CL) last announced 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. The business 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 was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.73 EPS. equities analysts predict that Colgate-Palmolive will post 2.88 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Monday, October 23rd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Friday, October 20th. Colgate-Palmolive’s payout ratio is currently 61.78%.
In other Colgate-Palmolive news, COO Justin Skala sold 126,393 shares of the firm’s stock in a transaction on 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 sale, the chief operating officer now directly owns 262,361 shares in the company, valued at $19,144,482.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Victoria L. Dolan sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $73.07, for a total value of $730,700.00. Following the completion of the sale, the insider now owns 60,528 shares in the company, valued at $4,422,780.96. The disclosure for this sale can be found here. Insiders have sold 173,673 shares of company stock valued at $12,629,293 in the last three months. Corporate insiders own 1.02% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio lifted its stake in Colgate-Palmolive by 0.4% in the third quarter. Public Employees Retirement System of Ohio now owns 596,651 shares of the company’s stock valued at $43,466,000 after buying an additional 2,200 shares during the last quarter. Crestwood Advisors Group LLC raised its stake in shares of Colgate-Palmolive by 1.3% during the third quarter. Crestwood Advisors Group LLC now owns 219,187 shares of the company’s stock valued at $15,968,000 after purchasing an additional 2,712 shares in the last quarter. Atlantic Trust LLC raised its stake in shares of Colgate-Palmolive by 7.2% during the third quarter. Atlantic Trust LLC now owns 30,689 shares of the company’s stock valued at $2,236,000 after purchasing an additional 2,074 shares in the last quarter. Moors & Cabot Inc. raised its stake in shares of Colgate-Palmolive by 7.6% during the third quarter. Moors & Cabot Inc. now owns 63,104 shares of the company’s stock valued at $4,594,000 after purchasing an additional 4,464 shares in the last quarter. Finally, Belpointe Asset Management LLC bought a new stake in shares of Colgate-Palmolive during the third quarter valued at about $214,000. Institutional investors own 73.46% of the company’s stock.
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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