Investors Buy Colgate-Palmolive Co. (CL) on Weakness
Investors bought 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 companies 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
CL has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Wednesday, April 20th. Citigroup Inc. increased their target price on shares of Colgate-Palmolive from $78.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, April 14th. Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $76.00 target price (up previously from $74.00) on shares of Colgate-Palmolive in a research report on Friday, July 15th. Atlantic Securities initiated coverage on shares of Colgate-Palmolive in a research report on Wednesday, June 1st. They issued an “overweight” rating for the company. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $75.00 target price (up previously from $73.00) on shares of Colgate-Palmolive in a research report on Sunday, July 24th. Fourteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $73.54.
The company has a market cap of $66.53 billion and a P/E ratio of 47.93. The stock has a 50 day moving average of $73.04 and a 200-day moving average of $69.88.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.01. The company earned $3.85 billion during the quarter, compared to analyst estimates of $3.86 billion. During the same quarter last year, the company earned $0.70 EPS. The firm’s quarterly revenue was down 5.4% 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 declared a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 22nd will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Wednesday, July 20th.
In other news, CTO Patricia Verduin sold 3,666 shares of the business’s stock in a transaction on Friday, July 15th. The shares were 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ellen M. Hancock sold 4,566 shares of the business’s stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $71.85, for a total transaction of $328,067.10. Following the completion of the sale, the director now directly owns 199,742 shares in the company, valued at approximately $14,351,462.70. The disclosure for this sale can be found here.
Several hedge funds have made changes to their positions in CL. Brown Advisory Securities LLC raised its stake in shares of Colgate-Palmolive by 5.5% in the fourth quarter. Brown Advisory Securities LLC now owns 15,225 shares of the company’s stock worth $1,017,000 after buying an additional 800 shares in the last quarter. Wetherby Asset Management Inc. raised its stake 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 period. Giovine Capital Group LLC purchased a new stake in Colgate-Palmolive during the fourth quarter valued at about $1,203,000. Schnieders Capital Management LLC raised its stake 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 during the period. Finally, Mark Sheptoff Financial Planning LLC raised its stake in Colgate-Palmolive by 4.2% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 24,746 shares of the company’s stock valued at $1,649,000 after buying an additional 1,001 shares during the period.
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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