Brokerages Set Colgate-Palmolive Co. (NYSE:CL) PT at $74.04
Colgate-Palmolive Co. (NYSE:CL) has earned a consensus recommendation of “Hold” from the twenty analysts that are currently covering the stock. Fifteen analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $74.04.
A number of analysts recently issued reports on CL shares. Citigroup Inc. upped their target price on Colgate-Palmolive from $82.00 to $88.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Bank of America Corp. raised Colgate-Palmolive from a “neutral” rating to a “buy” rating and upped their target price for the company from $70.86 to $80.00 in a research report on Monday, September 12th. JPMorgan Chase & Co. reissued a “hold” rating and issued a $75.00 target price on shares of Colgate-Palmolive in a research report on Friday, July 29th. Deutsche Bank AG reissued a “hold” rating and issued a $75.00 target price (up from $73.00) on shares of Colgate-Palmolive in a research report on Sunday, July 24th. Finally, Zacks Investment Research cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Tuesday, September 20th.
In other Colgate-Palmolive news, COO Noel R. Wallace sold 78,849 shares of the stock in a transaction on 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 owns 236,295 shares in the company, valued at approximately $17,648,873.55. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP John J. Huston sold 14,000 shares of the stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $74.93, for a total value of $1,049,020.00. Following the sale, the senior vice president now owns 102,761 shares in the company, valued at approximately $7,699,881.73. The disclosure for this sale can be found here. 1.05% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in CL. Investment Centers of America Inc. boosted its stake in Colgate-Palmolive by 81.0% in the first quarter. Investment Centers of America Inc. now owns 13,268 shares of the company’s stock valued at $938,000 after buying an additional 5,936 shares during the period. Wade G W & Inc. boosted its stake in Colgate-Palmolive by 5.3% in the first quarter. Wade G W & Inc. now owns 102,437 shares of the company’s stock valued at $7,237,000 after buying an additional 5,149 shares during the period. Chesley Taft & Associates LLC boosted its stake in Colgate-Palmolive by 35.4% in the first quarter. Chesley Taft & Associates LLC now owns 26,802 shares of the company’s stock valued at $1,894,000 after buying an additional 7,005 shares during the period. Wilbanks Smith & Thomas Asset Management LLC boosted its stake in Colgate-Palmolive by 0.3% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 52,651 shares of the company’s stock valued at $3,720,000 after buying an additional 148 shares during the period. Finally, Douglas Lane & Associates LLC acquired a new stake in Colgate-Palmolive during the first quarter valued at about $13,008,000. Hedge funds and other institutional investors own 72.97% of the company’s stock.
Shares of Colgate-Palmolive (NYSE:CL) opened at 74.14 on Friday. The firm has a 50-day moving average price of $73.67 and a 200 day moving average price of $72.34. Colgate-Palmolive has a one year low of $61.40 and a one year high of $75.38. The firm has a market capitalization of $66.10 billion, a price-to-earnings ratio of 47.74 and a beta of 0.63.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.01. The business earned $3.85 billion during the quarter, compared to analysts’ expectations of $3.86 billion. Colgate-Palmolive had a return on equity of 1,980.28% and a net margin of 9.04%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.70 EPS. Equities analysts forecast that Colgate-Palmolive will post $2.80 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Monday, October 24th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.10%. The ex-dividend date is Thursday, October 20th. Colgate-Palmolive’s payout ratio is currently 100.65%.
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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