Investors Sell Colgate-Palmolive Co. (CL) on Strength (CL)
Traders sold shares of Colgate-Palmolive Co. (NYSE:CL) on strength during trading hours on Friday. $37.19 million flowed into the stock on the tick-up and $59.92 million flowed out of the stock on the tick-down, for a money net flow of $22.73 million out of the stock. Of all stocks tracked, Colgate-Palmolive had the 0th highest net out-flow for the day. Colgate-Palmolive traded up $0.74 for the day and closed at $74.61
A number of brokerages have issued reports on CL. B. Riley reissued a “neutral” rating and set a $71.00 price objective on shares of Colgate-Palmolive in a report on Wednesday, May 4th. Atlantic Securities began coverage on Colgate-Palmolive in a report on Wednesday, June 1st. They set an “overweight” rating for the company. Zacks Investment Research cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Wednesday, April 20th. Morgan Stanley reissued a “hold” rating on shares of Colgate-Palmolive in a report on Friday, April 29th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $75.00 price objective (up from $73.00) on shares of Colgate-Palmolive in a report on Sunday. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $72.96.
The company has a market capitalization of $66.63 billion and a P/E ratio of 49.22. The stock has a 50-day moving average of $72.76 and a 200-day moving average of $69.51.
Colgate-Palmolive (NYSE:CL) last released its earnings results on Thursday, April 28th. The company reported $0.63 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.63. During the same quarter in the previous year, the company posted $0.66 earnings per share. The company had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.76 billion. The business’s revenue was down 7.6% compared to the same quarter last year. Equities research analysts predict that Colgate-Palmolive Co. will post $2.81 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 22nd will be given a dividend of $0.39 per share. The ex-dividend date is Wednesday, July 20th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.09%.
In related news, COO Justin Skala sold 89,200 shares of the company’s stock in a transaction on Wednesday, May 11th. The stock was 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 approximately $7,024,883.46. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Patricia Verduin sold 3,666 shares of the company’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $74.98, for a total value of $274,876.68. Following the sale, the chief technology officer now owns 54,602 shares of the company’s stock, valued at $4,094,057.96. The disclosure for this sale can be found here.
A number of institutional investors have recently bought and sold shares of CL. Brown Advisory Securities LLC increased 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 in the last quarter. Wetherby Asset Management Inc. increased 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 in the last quarter. Giovine Capital Group LLC purchased a new position in Colgate-Palmolive during the fourth quarter valued at approximately $1,203,000. Boys Arnold & Co. Inc. increased its position in Colgate-Palmolive by 21.8% in the fourth quarter. Boys Arnold & Co. Inc. now owns 20,786 shares of the company’s stock valued at $1,385,000 after buying an additional 3,717 shares in the last quarter. Finally, Schnieders Capital Management LLC increased its position in Colgate-Palmolive by 1.0% in the fourth quarter. Schnieders Capital Management LLC now owns 21,920 shares of the company’s stock valued at $1,460,000 after buying an additional 225 shares in 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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