Traders Buy Colgate-Palmolive Co. (CL) on Weakness
Traders purchased shares of Colgate-Palmolive Co. (NYSE:CL) on weakness during trading hours on Monday. $45.86 million flowed into the stock on the tick-up and $20.23 million flowed out of the stock on the tick-down, for a money net flow of $25.63 million into the stock. Of all stocks tracked, Colgate-Palmolive had the 22nd highest net in-flow for the day. Colgate-Palmolive traded down ($0.15) for the day and closed at $74.43
Several research analysts have commented on the company. B. Riley restated a “neutral” rating and issued a $71.00 target price on shares of Colgate-Palmolive in a research note on Wednesday, May 4th. Goldman Sachs Group Inc. upgraded Colgate-Palmolive from a “sell” rating to a “neutral” rating and raised their target price for the stock from $62.00 to $75.00 in a research note on Monday, May 2nd. Morgan Stanley restated a “hold” rating on shares of Colgate-Palmolive in a research note on Friday, April 29th. Zacks Investment Research downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Friday, May 6th. Finally, BNP Paribas downgraded Colgate-Palmolive from an “outperform” rating to a “neutral” rating and set a $76.00 target price for the company. in a research note on Friday, July 29th. Fourteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $73.61.
The stock has a 50-day moving average of $73.52 and a 200-day moving average of $70.42. The company has a market cap of $66.35 billion and a price-to-earnings ratio of 47.93.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.01. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.86 billion. During the same period in the prior year, the firm posted $0.70 EPS. 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 $2.82 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 22nd will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.10%. The ex-dividend date is Wednesday, July 20th.
In other news, CTO Patricia Verduin sold 3,666 shares of the company’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $71.59, for a total value of $262,448.94. Following the completion of the transaction, the chief technology officer now owns 54,602 shares of the company’s stock, valued at $3,908,957.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP John J. Huston sold 14,000 shares of the company’s stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $72.23, for a total value of $1,011,220.00. Following the completion of the transaction, the vice president now directly owns 101,843 shares of the company’s stock, valued at approximately $7,356,119.89. The disclosure for this sale can be found here.
Other institutional investors have added to or reduced their stakes in the company. Schnieders Capital Management LLC raised 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 worth $1,460,000 after buying an additional 225 shares during the period. Mark Sheptoff Financial Planning LLC raised its position 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 worth $1,649,000 after buying an additional 1,001 shares during the period. Victory Capital Management Inc. raised its position in Colgate-Palmolive by 69.3% in the fourth quarter. Victory Capital Management Inc. now owns 30,761 shares of the company’s stock worth $2,049,000 after buying an additional 12,589 shares during the period. Stephens Inc. AR raised its position in Colgate-Palmolive by 149.2% in the fourth quarter. Stephens Inc. AR now owns 31,161 shares of the company’s stock worth $2,076,000 after buying an additional 18,657 shares during the period. Finally, NewFocus Financial Group LLC raised its position in Colgate-Palmolive by 1.9% in the fourth quarter. NewFocus Financial Group LLC now owns 34,466 shares of the company’s stock worth $2,296,000 after buying an additional 652 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.