Zacks Investment Research upgraded shares of Colgate-Palmolive Company (NYSE:CL) from a sell rating to a hold rating in a report published on Wednesday morning.
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.”
A number of other research firms have also weighed in on CL. KeyCorp reiterated a hold rating on shares of Colgate-Palmolive in a research report on Monday, October 16th. Jefferies Group LLC reiterated a hold rating and issued a $79.00 price target (up from $77.00) on shares of Colgate-Palmolive in a research report on Monday, July 24th. Deutsche Bank AG restated a hold rating and set a $75.00 target price on shares of Colgate-Palmolive in a research report on Monday, July 24th. Wells Fargo & Company restated a market perform rating on shares of Colgate-Palmolive in a research report on Monday, July 24th. Finally, SunTrust Banks, Inc. upgraded shares of Colgate-Palmolive from a hold rating to a buy rating and upped their target price for the stock from $65.00 to $85.00 in a research report on Wednesday, October 11th. One research 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. The stock has a consensus rating of Hold and a consensus price target of $76.67.
Colgate-Palmolive (NYSE:CL) traded up $0.30 on Wednesday, hitting $73.21. 2,523,600 shares of the company’s stock were exchanged, compared to its average volume of 4,084,355. The company has a market capitalization of $64,286.07, a price-to-earnings ratio of 25.51, a P/E/G ratio of 3.35 and a beta of 0.80. Colgate-Palmolive has a fifty-two week low of $63.43 and a fifty-two week high of $77.27. The company has a current ratio of 1.23, a quick ratio of 0.92 and a debt-to-equity ratio of 24.42.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, October 27th. The company reported $0.73 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.73. The business had revenue of $3.97 billion during 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 business posted $0.73 earnings per share. equities research analysts expect that Colgate-Palmolive will post 2.88 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, October 20th. This represents a $1.60 annualized dividend and a yield of 2.19%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 61.78%.
In other news, Director Stephen I. Sadove sold 20,780 shares of the 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 available at this hyperlink. Also, insider Patricia Verduin sold 3,833 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $71.45, for a total transaction of $273,867.85. Following the completion of the sale, the insider now directly owns 53,173 shares in the company, valued at approximately $3,799,210.85. The disclosure for this sale can be found here. 1.02% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. American Beacon Advisors Inc. purchased a new stake in shares of Colgate-Palmolive in the first quarter valued at $102,000. Jacobi Capital Management LLC raised its stake in shares of Colgate-Palmolive by 125.5% in the third 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 shares of Colgate-Palmolive by 16.9% in the first 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 stake in shares of Colgate-Palmolive in the second quarter valued at $109,000. Finally, Krilogy Financial LLC raised its stake in shares of Colgate-Palmolive by 23.0% in the second quarter. Krilogy Financial LLC now owns 1,547 shares of the company’s stock valued at $115,000 after acquiring an additional 289 shares during the period. 73.63% of the stock is currently owned by institutional investors and hedge funds.
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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