Investors 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 stocks 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 research firms have recently commented on CL. Exane BNP Paribas downgraded Colgate-Palmolive from an “outperform” rating to a “neutral” rating in a research note on Friday, July 29th. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $76.00 price objective (up previously from $74.00) on shares of Colgate-Palmolive in a research note on Friday, July 15th. JPMorgan Chase & Co. reissued a “hold” rating and issued a $75.00 price objective on shares of Colgate-Palmolive in a research note on Friday, July 29th. Atlantic Securities began coverage on Colgate-Palmolive in a research note on Wednesday, June 1st. They issued an “overweight” rating on the stock. Finally, B. Riley reissued a “neutral” rating and issued a $71.00 price objective on shares of Colgate-Palmolive in a research note on Wednesday, August 3rd. Fourteen analysts have rated the stock with a hold rating and four have given a buy rating to the company. Colgate-Palmolive currently has a consensus rating of “Hold” and an average target price of $74.04.
The stock’s 50 day moving average price is $74.46 and its 200-day moving average price is $71.52. The stock has a market capitalization of $66.76 billion and a PE ratio of 48.22.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.01. During the same period last year, the company earned $0.70 EPS. The company earned $3.85 billion during the quarter, compared to analyst estimates of $3.86 billion. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. Equities analysts forecast that Colgate-Palmolive Co. will post $2.79 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Friday, July 22nd were given a $0.39 dividend. 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, COO Franck J. Moison sold 15,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief operating officer now owns 188,029 shares in the company, valued at approximately $14,132,259.64. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Noel R. Wallace sold 78,849 shares of the company’s 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 sale, the chief operating officer now owns 236,295 shares of the company’s stock, valued at approximately $17,648,873.55. The disclosure for this sale can be found here.
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.