Traders Buy Colgate-Palmolive Co. (CL) on Weakness
Investors bought shares of Colgate-Palmolive Co. (NYSE:CL) on weakness during trading hours on Tuesday. $73.54 million flowed into the stock on the tick-up and $41.66 million flowed out of the stock on the tick-down, for a money net flow of $31.88 million into the stock. Of all equities tracked, Colgate-Palmolive had the 8th highest net in-flow for the day. Colgate-Palmolive traded down ($0.54) for the day and closed at $73.95
CL has been the topic of several research reports. Zacks Investment Research cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Wednesday, April 20th. Citigroup Inc. lifted their price target on shares of Colgate-Palmolive from $78.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, April 14th. Barclays PLC lifted their price target on shares of Colgate-Palmolive from $69.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Monday, March 21st. Atlantic Securities began coverage on shares of Colgate-Palmolive in a research note on Wednesday, June 1st. They set an “overweight” rating on the stock. Finally, Morgan Stanley reiterated a “hold” rating on shares of Colgate-Palmolive in a research note on Friday, April 29th. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Colgate-Palmolive has an average rating of “Hold” and an average price target of $72.75.
The company has a market cap of $66.04 billion and a P/E ratio of 48.78. The stock’s 50 day moving average price is $71.96 and its 200 day moving average price is $69.12.
Colgate-Palmolive (NYSE:CL) last released 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. The firm had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.76 billion. Colgate-Palmolive’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.66 earnings per share. Analysts predict 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. Investors of record on Friday, July 22nd will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, July 20th.
In other Colgate-Palmolive news, COO Justin Skala sold 89,200 shares of Colgate-Palmolive stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $72.17, for a total transaction of $6,437,564.00. Following the completion of the sale, the chief operating officer now directly owns 97,338 shares in the company, valued at $7,024,883.46. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Patricia Verduin sold 3,666 shares of Colgate-Palmolive stock in a transaction dated 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 owns 54,602 shares of the company’s stock, valued at $3,867,459.66. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have bought and sold shares of the stock. Brown Advisory Securities LLC raised 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. raised 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 raised 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 acquired a new position in Colgate-Palmolive during the fourth quarter valued at approximately $1,203,000. Finally, Smithfield Trust Co. raised 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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