Colgate-Palmolive Co. (CL) Sets New 1-Year High at $75.38
Shares of Colgate-Palmolive Co. (NYSE:CL) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $75.38 and last traded at $74.86, with a volume of 810,782 shares traded. The stock had previously closed at $74.89.
A number of analysts have recently issued reports on CL shares. Zacks Investment Research downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Wednesday, April 20th. B. Riley reaffirmed a “neutral” rating and set a $71.00 price objective on shares of Colgate-Palmolive in a report on Friday, April 29th. Morgan Stanley reaffirmed a “hold” rating on shares of Colgate-Palmolive in a report on Friday, April 29th. Goldman Sachs Group Inc. raised shares of Colgate-Palmolive from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $62.00 to $75.00 in a report on Monday, May 2nd. Finally, Atlantic Securities started coverage on shares of Colgate-Palmolive in a report on Wednesday, June 1st. They set an “overweight” rating for the company. Fourteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Colgate-Palmolive currently has an average rating of “Hold” and an average target price of $73.61.
The company has a market cap of $66.84 billion and a P/E ratio of 48.27. The stock’s 50-day moving average is $73.84 and its 200 day moving average is $70.63.
Colgate-Palmolive (NYSE:CL) last issued its earnings results on Thursday, July 28th. The company reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.01. During the same quarter in the prior year, the company posted $0.70 EPS. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.86 billion. Colgate-Palmolive’s revenue was down 5.4% compared to the same quarter last year. On average, equities analysts forecast that Colgate-Palmolive Co. will post $2.78 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 22nd will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, July 20th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.08%.
In other Colgate-Palmolive news, COO Noel R. Wallace sold 78,849 shares of the stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $74.69, for a total transaction of $5,889,231.81. Following the completion of the transaction, the chief operating officer now owns 236,295 shares in the company, valued at $17,648,873.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Patricia Verduin sold 3,666 shares of the stock in a transaction on Monday, May 16th. The shares were sold at an average price of $71.59, for a total transaction of $262,448.94. Following the transaction, the chief technology officer now owns 54,602 shares of the company’s stock, valued at approximately $3,908,957.18. The disclosure for this sale can be found here.
Other institutional investors have added to or reduced their stakes in the company. Autus Asset Management LLC raised its position in Colgate-Palmolive by 2.8% in the fourth quarter. Autus Asset Management LLC now owns 86,163 shares of the company’s stock valued at $5,741,000 after buying an additional 2,341 shares during the period. Calvert Investment Management Inc. raised its position in Colgate-Palmolive by 35.1% in the fourth quarter. Calvert Investment Management Inc. now owns 61,359 shares of the company’s stock valued at $4,088,000 after buying an additional 15,947 shares during the period. Bridgewater Associates LP purchased a new stake in Colgate-Palmolive during the fourth quarter valued at about $8,175,000. American International Group Inc. raised its stake in Colgate-Palmolive by 0.8% in the fourth quarter. American International Group Inc. now owns 477,500 shares of the company’s stock valued at $31,810,000 after buying an additional 3,845 shares during the period. Finally, BlackRock Investment Management LLC raised its stake in 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 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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