Investors Buy Colgate-Palmolive Co. (CL) on Weakness
Traders purchased shares of Colgate-Palmolive Co. (NYSE:CL) on weakness during trading hours on Thursday. $65.73 million flowed into the stock on the tick-up and $47.82 million flowed out of the stock on the tick-down, for a money net flow of $17.91 million into the stock. Of all equities tracked, Colgate-Palmolive had the 22nd highest net in-flow for the day. Colgate-Palmolive traded down ($0.03) for the day and closed at $73.25
Several research analysts have weighed in on the company. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $76.00 price objective (up previously from $74.00) on shares of Colgate-Palmolive in a research report on Friday, July 15th. Deutsche Bank AG restated a “hold” rating and issued a $75.00 target price (up from $73.00) on shares of Colgate-Palmolive in a research note on Sunday, July 24th. B. Riley restated a “neutral” rating and issued a $71.00 target price on shares of Colgate-Palmolive in a research note on Friday. BNP Paribas lowered Colgate-Palmolive from an “outperform” rating to a “neutral” rating in a research note on Friday. Finally, Zacks Investment Research upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research note on Monday, May 9th. Twelve equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $72.96.
The firm has a 50-day moving average price of $72.98 and a 200 day moving average price of $69.80. The firm has a market cap of $65.41 billion and a price-to-earnings ratio of 48.32.
Colgate-Palmolive (NYSE:CL) last issued its earnings results on Thursday, July 28th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. During the same quarter in the prior year, the business posted $0.70 earnings per share. The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.86 billion. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities research analysts predict that Colgate-Palmolive Co. will post $2.81 earnings per share for the current fiscal year.
The company also recently declared 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 other news, CTO Patricia Verduin sold 3,666 shares of the firm’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 transaction, the chief technology officer now directly owns 54,602 shares in the company, valued at approximately $4,094,057.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Victoria L. Dolan sold 19,334 shares of the firm’s stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $71.76, for a total value of $1,387,407.84. Following the completion of the transaction, the vice president now owns 55,526 shares in the company, valued at $3,984,545.76. The disclosure for this sale can be found here.
A number of institutional investors recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Colgate-Palmolive by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 57,729,128 shares of the company’s stock valued at $3,845,915,000 after buying an additional 1,122,379 shares during the period. Suntrust Banks Inc. increased its position in Colgate-Palmolive by 231.1% in the fourth quarter. Suntrust Banks Inc. now owns 722,965 shares of the company’s stock valued at $48,162,000 after buying an additional 504,608 shares during the period. Baillie Gifford & Co. increased its position in Colgate-Palmolive by 5.1% in the fourth quarter. Baillie Gifford & Co. now owns 6,083,929 shares of the company’s stock valued at $405,312,000 after buying an additional 294,961 shares during the period. US Bancorp DE increased its position in Colgate-Palmolive by 18.4% in the fourth quarter. US Bancorp DE now owns 1,263,704 shares of the company’s stock valued at $84,188,000 after buying an additional 196,681 shares during the period. Finally, BHF Kleinwort Benson Group S.A. bought a new position in Colgate-Palmolive during the fourth quarter valued at $9,617,000.
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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