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 Thursday. $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 equities tracked, Colgate-Palmolive had the 41st highest net in-flow for the day. Colgate-Palmolive traded down ($0.07) for the day and closed at $74.27
A number of brokerages have issued reports on CL. B. Riley reissued a “neutral” rating and issued a $71.00 target price on shares of Colgate-Palmolive in a report on Wednesday, August 3rd. JPMorgan Chase & Co. restated a “hold” rating and issued a $75.00 price target on shares of Colgate-Palmolive in a research note on Friday, July 29th. Exane BNP Paribas lowered shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating in a research note on Friday, July 29th. Citigroup Inc. raised their price target on shares of Colgate-Palmolive from $82.00 to $88.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Finally, BNP Paribas lowered 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 note on Friday, July 29th. Fourteen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Colgate-Palmolive presently has an average rating of “Hold” and an average target price of $74.04.
The stock has a market capitalization of $66.76 billion and a PE ratio of 48.22. The company has a 50-day moving average price of $74.46 and a 200-day moving average price of $71.52.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.01. During the same quarter last year, the firm earned $0.70 earnings per share. The firm earned $3.85 billion during the quarter, compared to analyst estimates of $3.86 billion. Colgate-Palmolive’s quarterly revenue was down 5.4% on a year-over-year basis. On average, equities research analysts forecast that Colgate-Palmolive Co. will post $2.78 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Friday, July 22nd were given a $0.39 dividend. The ex-dividend date was Wednesday, July 20th. This represents a $1.56 dividend on an annualized basis and a yield of 2.08%.
In other Colgate-Palmolive news, COO Franck J. Moison sold 15,000 shares of the business’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $75.16, for a total value of $1,127,400.00. Following the transaction, the chief operating officer now directly owns 188,029 shares in the company, valued at $14,132,259.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Patricia Verduin sold 3,666 shares of the business’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $74.98, for a total transaction of $274,876.68. Following the completion of the transaction, the chief technology officer now owns 54,602 shares in the company, valued at $4,094,057.96. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Colgate-Palmolive stock. Ameriprise Financial Inc. increased its position in Colgate-Palmolive Co. (NYSE:CL) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 816,400 shares of the company’s stock after buying an additional 6,207 shares during the period. Ameriprise Financial Inc. owned approximately 0.09% of Colgate-Palmolive worth $54,386,000 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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