Colgate-Palmolive Co. (CL) Reaches New 52-Week High at $75.34
Colgate-Palmolive Co. (NYSE:CL) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $75.34 and last traded at $74.73, with a volume of 2,010,469 shares trading hands. The stock had previously closed at $75.11.
A number of research analysts have issued reports on CL shares. Citigroup Inc. upped their price target on shares of Colgate-Palmolive from $78.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, April 14th. Zacks Investment Research lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Wednesday, April 20th. B. Riley reiterated a “neutral” rating and issued a $71.00 price objective on shares of Colgate-Palmolive in a research note on Friday, April 29th. Morgan Stanley reiterated a “hold” rating on shares of Colgate-Palmolive in a research note on Friday, April 29th. Finally, Goldman Sachs Group Inc. upgraded shares of Colgate-Palmolive from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $62.00 to $75.00 in a research note on Monday, May 2nd. Fourteen research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $73.61.
The company has a market cap of $66.04 billion and a price-to-earnings ratio of 47.70. The stock’s 50-day moving average is $73.28 and its 200-day moving average is $70.18.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.86 billion. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.70 EPS. On average, analysts predict that Colgate-Palmolive Co. will post $2.82 EPS for the current year.
The firm also recently announced 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. The ex-dividend date is Wednesday, July 20th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.11%.
In other news, CTO Patricia Verduin sold 3,666 shares of Colgate-Palmolive stock in a transaction on Monday, May 16th. The shares were sold at an average price of $71.59, for a total value of $262,448.94. Following the transaction, the chief technology officer now directly owns 54,602 shares of the company’s stock, valued at approximately $3,908,957.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Justin Skala sold 89,200 shares of Colgate-Palmolive stock in a transaction on 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 transaction, the chief operating officer now directly owns 97,338 shares in the company, valued at $7,024,883.46. The disclosure for this sale can be found here.
Other institutional investors have recently made changes to their positions in the company. Baillie Gifford & Co. boosted its position in shares of 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 in the last quarter. BlackRock Investment Management LLC boosted its position in shares of Colgate-Palmolive by 0.4% in the fourth quarter. BlackRock Investment Management LLC now owns 1,999,228 shares of the company’s stock valued at $133,189,000 after buying an additional 7,041 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Colgate-Palmolive by 7.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,727,860 shares of the company’s stock valued at $115,121,000 after buying an additional 116,629 shares in the last quarter. Mizuho Trust & Banking Co. Ltd. boosted its position in shares of Colgate-Palmolive by 0.7% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 1,357,319 shares of the company’s stock valued at $91,660,000 after buying an additional 8,860 shares in the last quarter. Finally, US Bancorp DE boosted its position in shares of 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 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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