Colgate-Palmolive Co. (CL) Reaches New 12-Month High at $73.71
Colgate-Palmolive Co. (NYSE:CL) shares reached a new 52-week high during trading on Thursday . The company traded as high as $73.71 and last traded at $73.28, with a volume of 1,334,707 shares changing hands. The stock had previously closed at $73.28.
CL has been the subject of a number of recent analyst reports. Zacks Investment Research lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Wednesday, April 20th. Citigroup Inc. upped their price target on Colgate-Palmolive from $78.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, April 14th. Barclays PLC upped their price target on Colgate-Palmolive from $69.00 to $70.00 and gave the company an “equal weight” rating in a research report on Monday, March 21st. Atlantic Securities initiated coverage on Colgate-Palmolive in a research report on Wednesday, June 1st. They set an “overweight” rating for the company. Finally, Morgan Stanley reiterated a “hold” rating on shares of Colgate-Palmolive in a report on Friday, April 29th. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Colgate-Palmolive presently has an average rating of “Hold” and a consensus target price of $72.75.
The company’s 50 day moving average is $71.72 and its 200 day moving average is $68.99. The firm has a market cap of $66.31 billion and a price-to-earnings ratio of 48.98.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Thursday, April 28th. The company reported $0.63 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.63. During the same period in the previous year, the business earned $0.66 EPS. The firm earned $3.76 billion during the quarter, compared to the consensus estimate of $3.76 billion. The firm’s revenue for the quarter was down 7.6% on a year-over-year basis. Analysts anticipate that Colgate-Palmolive Co. will post $2.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 22nd will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Wednesday, July 20th.
In other news, VP Victoria L. Dolan sold 19,334 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $71.76, for a total transaction of $1,387,407.84. Following the completion of the sale, the vice president now owns 55,526 shares of the company’s stock, valued at $3,984,545.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Patricia Verduin sold 3,666 shares of Colgate-Palmolive stock in a transaction that occurred on Friday, April 15th. The shares were sold at an average price of $70.83, for a total transaction of $259,662.78. Following the sale, the chief technology officer now directly owns 54,602 shares of the company’s stock, valued at approximately $3,867,459.66. The disclosure for this sale can be found here.
Other hedge funds recently bought and sold shares of the company. First Trust Advisors LP increased its stake in Colgate-Palmolive by 15.2% in the fourth quarter. First Trust Advisors LP now owns 142,087 shares of the company’s stock valued at $9,466,000 after buying an additional 18,800 shares in the last quarter. Swiss National Bank increased its stake in Colgate-Palmolive by 1.0% in the fourth quarter. Swiss National Bank now owns 2,209,372 shares of the company’s stock valued at $147,188,000 after buying an additional 21,300 shares in the last quarter. Banque Pictet & Cie SA increased its stake in Colgate-Palmolive by 7.2% in the fourth quarter. Banque Pictet & Cie SA now owns 751,100 shares of the company’s stock valued at $50,038,000 after buying an additional 50,370 shares in the last quarter. Chemung Canal Trust Co. increased its stake in Colgate-Palmolive by 2.5% in the fourth quarter. Chemung Canal Trust Co. now owns 67,162 shares of the company’s stock valued at $4,474,000 after buying an additional 1,650 shares in the last quarter. Finally, Bank Pictet & Cie Asia Ltd. bought a new stake in Colgate-Palmolive during the fourth quarter valued at $2,665,000.
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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