Morgan Stanley set a $71.00 price objective on Colgate-Palmolive (NYSE:CL) in a report issued on Monday, Stock Target Advisor reports. The firm currently has a hold rating on the stock.
A number of other analysts have also commented on the company. Piper Jaffray Companies began coverage on Colgate-Palmolive in a report on Tuesday, August 13th. They issued an overweight rating on the stock. Wells Fargo & Co boosted their price target on Colgate-Palmolive from $68.00 to $70.00 and gave the company a market perform rating in a report on Monday, July 29th. Citigroup boosted their price target on Colgate-Palmolive from $77.00 to $79.00 and gave the company a neutral rating in a report on Tuesday, August 20th. Deutsche Bank boosted their price target on Colgate-Palmolive from $74.00 to $76.00 and gave the company a hold rating in a report on Friday, July 12th. Finally, Zacks Investment Research lowered Colgate-Palmolive from a hold rating to a sell rating and set a $70.00 price target on the stock. in a report on Monday. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $72.57.
Shares of NYSE:CL traded up $0.10 during midday trading on Monday, hitting $66.62. The company had a trading volume of 93,861 shares, compared to its average volume of 3,771,229. The firm has a fifty day simple moving average of $69.73 and a 200 day simple moving average of $71.60. The company has a current ratio of 1.03, a quick ratio of 0.25 and a debt-to-equity ratio of 43.94. The stock has a market cap of $56.06 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 4.32 and a beta of 0.73. Colgate-Palmolive has a 12 month low of $57.51 and a 12 month high of $76.41.
Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, November 1st. The company reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.01. The firm had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.95 billion. Colgate-Palmolive had a return on equity of 6,492.71% and a net margin of 15.04%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 earnings per share. Equities analysts forecast that Colgate-Palmolive will post 2.83 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Wednesday, October 23rd will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.58%. The ex-dividend date is Tuesday, October 22nd. Colgate-Palmolive’s payout ratio is presently 57.91%.
In other news, Chairman Ian M. Cook sold 17,750 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $68.30, for a total transaction of $1,212,325.00. Following the completion of the transaction, the chairman now directly owns 995,075 shares in the company, valued at $67,963,622.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Henning I. Jakobsen sold 858 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $74.60, for a total transaction of $64,006.80. Following the transaction, the chief financial officer now owns 39,031 shares of the company’s stock, valued at $2,911,712.60. The disclosure for this sale can be found here. Insiders have sold 201,361 shares of company stock valued at $14,293,538 over the last 90 days. Corporate insiders own 1.14% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Colgate-Palmolive by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 76,502,840 shares of the company’s stock worth $5,482,958,000 after purchasing an additional 1,056,530 shares in the last quarter. BlackRock Inc. lifted its position in Colgate-Palmolive by 0.5% in the 2nd quarter. BlackRock Inc. now owns 60,205,815 shares of the company’s stock valued at $4,314,949,000 after acquiring an additional 279,887 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Colgate-Palmolive by 1.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 33,456,670 shares of the company’s stock valued at $2,459,402,000 after acquiring an additional 361,992 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Colgate-Palmolive by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 20,354,779 shares of the company’s stock valued at $1,458,828,000 after acquiring an additional 573,566 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Colgate-Palmolive by 201.8% in the 2nd quarter. Invesco Ltd. now owns 8,642,044 shares of the company’s stock valued at $619,374,000 after acquiring an additional 5,778,145 shares in the last quarter. Institutional investors and hedge funds own 76.09% of the company’s stock.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
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