Colgate-Palmolive Co. (CL) Hits New 1-Year High at $73.71
Colgate-Palmolive Co. (NYSE:CL) hit a new 52-week high on Thursday . The stock traded as high as $73.71 and last traded at $73.28, with a volume of 1,334,707 shares traded. The stock had previously closed at $73.28.
CL has been the subject of several research reports. Barclays PLC upped their target price on Colgate-Palmolive from $69.00 to $70.00 and gave the stock an “equal weight” rating in a report on Monday, March 21st. Zacks Investment Research upgraded Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Wednesday, March 30th. Citigroup Inc. upped their target price on Colgate-Palmolive from $78.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, April 14th. B. Riley reiterated a “neutral” rating and issued a $71.00 target price on shares of Colgate-Palmolive in a report on Friday, April 29th. Finally, Morgan Stanley reiterated a “hold” rating on shares of Colgate-Palmolive in a report on Friday, April 29th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $72.75.
The firm’s 50-day moving average price is $71.51 and its 200 day moving average price is $68.90. The stock has a market cap of $65.40 billion and a price-to-earnings ratio of 48.31.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Thursday, April 28th. The company reported $0.63 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.63. During the same period in the previous year, the firm posted $0.66 earnings per share. The firm earned $3.76 billion during the quarter, compared to analyst estimates of $3.76 billion. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. On average, equities research analysts anticipate that Colgate-Palmolive Co. will post $2.81 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 22nd will be paid a $0.39 dividend. The ex-dividend date is Wednesday, July 20th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.13%.
In related news, CTO Patricia Verduin sold 3,666 shares of the business’s stock in a transaction on Friday, April 15th. The stock was sold at an average price of $70.83, for a total transaction of $259,662.78. Following the completion of the transaction, the chief technology officer now directly owns 54,602 shares of the company’s stock, valued at approximately $3,867,459.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Justin Skala sold 89,200 shares of the business’s stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $72.17, for a total value of $6,437,564.00. Following the transaction, the chief operating officer now directly owns 97,338 shares of the company’s stock, valued at $7,024,883.46. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently added to or reduced their stakes in CL. Brown Advisory Securities LLC boosted its position in Colgate-Palmolive by 5.5% in the fourth quarter. Brown Advisory Securities LLC now owns 15,225 shares of the company’s stock valued at $1,017,000 after buying an additional 800 shares during the last quarter. Wetherby Asset Management Inc. boosted its position in Colgate-Palmolive by 2.6% in the fourth quarter. Wetherby Asset Management Inc. now owns 16,360 shares of the company’s stock valued at $1,090,000 after buying an additional 415 shares during the last quarter. Geneva Advisors LLC boosted its position in Colgate-Palmolive by 2.7% in the fourth quarter. Geneva Advisors LLC now owns 17,760 shares of the company’s stock valued at $1,183,000 after buying an additional 470 shares during the last quarter. Giovine Capital Group LLC bought a new position in Colgate-Palmolive during the fourth quarter valued at approximately $1,203,000. Finally, Smithfield Trust Co. boosted its position in Colgate-Palmolive by 1.9% in the fourth quarter. Smithfield Trust Co. now owns 19,668 shares of the company’s stock valued at $1,310,000 after buying an additional 359 shares during the last quarter.
Colgate-Palmolive Company (Colgate) is a consumer products company, whose products are marketed in over 200 countries and territories throughout the world. The Company’s segments include Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through over five geographic segments, which include North America, Latin America, Europe/South Pacific, Asia and Africa/Eurasia.
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