Zacks Investment Research upgraded shares of Colgate-Palmolive Company (NYSE:CL) from a sell rating to a hold rating in a research report released 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.”
Other equities analysts also recently issued reports about the stock. BidaskClub downgraded shares of Colgate-Palmolive from a sell rating to a strong sell rating in a research note on Wednesday, July 12th. Wells Fargo & Company reaffirmed a market perform rating on shares of Colgate-Palmolive in a research note on Monday, July 24th. Deutsche Bank AG reiterated a hold rating and set a $75.00 price target on shares of Colgate-Palmolive in a research report on Monday, July 24th. Jefferies Group LLC reiterated a hold rating and set a $79.00 price target (up previously from $77.00) on shares of Colgate-Palmolive in a research report on Monday, July 24th. Finally, Macquarie initiated coverage on shares of Colgate-Palmolive in a research report on Thursday, September 14th. They set a neutral rating and a $76.00 price target for the company. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. Colgate-Palmolive has an average rating of Hold and a consensus price target of $76.67.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, October 27th. The company reported $0.73 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.73. Colgate-Palmolive had a net margin of 15.10% and a return on equity of 2,782.56%. The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same period last year, the firm posted $0.73 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. equities research analysts predict that Colgate-Palmolive will post 2.88 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Friday, October 20th. Colgate-Palmolive’s payout ratio is currently 61.78%.
In other news, Director Stephen I. Sadove sold 20,780 shares of the business’s stock in a transaction on 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 sale, the director now owns 36,268 shares of the company’s stock, valued at $2,557,619.36. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Victoria L. Dolan sold 10,000 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $73.07, for a total transaction of $730,700.00. Following the sale, the insider now directly owns 60,528 shares in the company, valued at $4,422,780.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 173,673 shares of company stock worth $12,629,293. Insiders own 1.02% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. American Beacon Advisors Inc. bought a new position in shares of Colgate-Palmolive in the first quarter worth about $102,000. Jacobi Capital Management LLC raised its stake in Colgate-Palmolive by 125.5% in the 3rd quarter. Jacobi Capital Management LLC now owns 1,443 shares of the company’s stock valued at $104,000 after acquiring an additional 803 shares during the period. Proficio Capital Partners LLC raised its stake in Colgate-Palmolive by 16.9% in the 1st quarter. Proficio Capital Partners LLC now owns 1,432 shares of the company’s stock valued at $107,000 after acquiring an additional 207 shares during the period. OLD Second National Bank of Aurora purchased a new position in Colgate-Palmolive during the 2nd quarter valued at about $109,000. Finally, Krilogy Financial LLC grew its holdings 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 buying an additional 289 shares in the last quarter. 73.46% of the stock is currently owned by hedge funds and other institutional investors.
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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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