Colgate-Palmolive (NYSE:CL)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $59.13, but opened at $60.55. Colgate-Palmolive shares last traded at $61.30, with a volume of 5218166 shares traded.
Several equities research analysts have issued reports on CL shares. Citigroup cut their price objective on shares of Colgate-Palmolive from $68.00 to $63.00 and set a “hold” rating for the company in a research report on Monday, October 29th. Argus restated a “buy” rating and set a $75.00 price objective (up from $72.00) on shares of Colgate-Palmolive in a research report on Tuesday, September 18th. JPMorgan Chase & Co. downgraded shares of Colgate-Palmolive from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $61.00 to $54.00 in a research report on Monday, October 29th. Zacks Investment Research upgraded shares of Colgate-Palmolive from a “sell” rating to a “hold” rating in a research report on Tuesday, September 18th. Finally, Morgan Stanley dropped their price target on shares of Colgate-Palmolive from $65.00 to $60.00 and set a “hold” rating for the company in a research report on Tuesday, October 30th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $67.87.
The company has a market cap of $53.17 billion, a PE ratio of 21.57, a P/E/G ratio of 2.94 and a beta of 0.75.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, October 26th. The company reported $0.72 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.72. The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Colgate-Palmolive had a net margin of 13.55% and a return on equity of 12,004.60%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the firm posted $0.73 earnings per share. As a group, sell-side analysts expect that Colgate-Palmolive will post 2.96 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Wednesday, January 23rd will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.71%. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.54%.
Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Colgate-Palmolive by 1.0% during the third quarter. Vanguard Group Inc. now owns 73,520,894 shares of the company’s stock worth $4,922,224,000 after buying an additional 734,860 shares during the last quarter. Vanguard Group Inc grew its stake in shares of Colgate-Palmolive by 1.0% during the third quarter. Vanguard Group Inc now owns 73,520,894 shares of the company’s stock worth $4,922,224,000 after buying an additional 734,860 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Colgate-Palmolive by 1.1% during the third quarter. Bank of New York Mellon Corp now owns 20,359,199 shares of the company’s stock worth $1,363,050,000 after buying an additional 223,814 shares during the last quarter. Morgan Stanley grew its stake in shares of Colgate-Palmolive by 15.0% during the third quarter. Morgan Stanley now owns 7,212,524 shares of the company’s stock worth $482,879,000 after buying an additional 941,008 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Colgate-Palmolive by 0.8% during the third quarter. Franklin Resources Inc. now owns 4,790,397 shares of the company’s stock worth $320,717,000 after buying an additional 37,145 shares during the last quarter. 74.54% of the stock is currently owned by institutional investors and hedge funds.
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Colgate-Palmolive Company Profile (NYSE:CL)
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
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