Traders Buy Shares of Colgate-Palmolive Co. (CL) on Weakness
Traders purchased shares of Colgate-Palmolive Co. (NYSE:CL) on weakness during trading hours on Friday. $54.56 million flowed into the stock on the tick-up and $25.98 million flowed out of the stock on the tick-down, for a money net flow of $28.58 million into the stock. Of all companies tracked, Colgate-Palmolive had the 22nd highest net in-flow for the day. Colgate-Palmolive traded down ($0.07) for the day and closed at $74.27
A number of analysts have commented on CL shares. Zacks Investment Research cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Friday, May 6th. Citigroup Inc. upped their price target on shares of Colgate-Palmolive from $82.00 to $88.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Deutsche Bank AG reaffirmed a “hold” rating and set a $75.00 price target (up previously from $73.00) on shares of Colgate-Palmolive in a research report on Sunday, July 24th. BNP Paribas cut shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating and set a $76.00 price target on the stock. in a research report on Friday, July 29th. Finally, B. Riley reaffirmed a “neutral” rating and set a $71.00 price target on shares of Colgate-Palmolive in a research report on Friday, July 29th. Fourteen research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Colgate-Palmolive currently has a consensus rating of “Hold” and a consensus price target of $74.04.
The stock has a market capitalization of $66.76 billion and a PE ratio of 48.22. The company’s 50 day moving average is $74.46 and its 200-day moving average is $71.52.
Colgate-Palmolive (NYSE:CL) last announced its earnings results on Thursday, July 28th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. During the same period in the previous year, the firm posted $0.70 EPS. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.86 billion. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities research analysts forecast that Colgate-Palmolive Co. will post $2.78 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Friday, July 22nd were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend was Wednesday, July 20th.
In related news, CTO Patricia Verduin sold 3,666 shares of the business’s stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $72.19, for a total transaction of $264,648.54. Following the sale, the chief technology officer now owns 54,602 shares of the company’s stock, valued at $3,941,718.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Noel R. Wallace sold 78,849 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $74.69, for a total transaction of $5,889,231.81. Following the sale, the chief operating officer now directly owns 236,295 shares in the company, valued at approximately $17,648,873.55. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Colgate-Palmolive stock. Schwab Charles Investment Management Inc. raised its position in shares of Colgate-Palmolive Co. (NYSE:CL) by 8.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,058,290 shares of the company’s stock after buying an additional 233,585 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.34% of Colgate-Palmolive worth $203,744,000 as of its most recent SEC filing.
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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