Traders Sell Colgate-Palmolive Co. (CL) on Strength (CL)
Traders sold shares of Colgate-Palmolive Co. (NYSE:CL) on strength during trading hours on Friday. $37.19 million flowed into the stock on the tick-up and $59.92 million flowed out of the stock on the tick-down, for a money net flow of $22.73 million out of the stock. Of all companies tracked, Colgate-Palmolive had the 11th highest net out-flow for the day. Colgate-Palmolive traded up $0.74 for the day and closed at $74.61
Several research firms recently commented on CL. B. Riley restated a “neutral” rating and issued a $71.00 target price on shares of Colgate-Palmolive in a research report on Wednesday, May 4th. Atlantic Securities began coverage on Colgate-Palmolive in a research report on Wednesday, June 1st. They issued an “overweight” rating on the stock. Zacks Investment Research cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Wednesday, April 20th. Morgan Stanley restated a “hold” rating on shares of Colgate-Palmolive in a research report on Friday, April 29th. Finally, Goldman Sachs Group Inc. upgraded Colgate-Palmolive from a “sell” rating to a “neutral” rating and raised their target price for the company from $62.00 to $75.00 in a research report on Monday, May 2nd. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $72.65.
The stock’s 50 day moving average price is $72.76 and its 200-day moving average price is $69.51. The firm has a market capitalization of $66.63 billion and a P/E ratio of 49.22.
Colgate-Palmolive (NYSE:CL) last posted its earnings results on Thursday, April 28th. The company reported $0.63 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.63. The firm earned $3.76 billion during the quarter, compared to the consensus estimate of $3.76 billion. The business’s revenue was down 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 EPS. Equities research analysts expect that Colgate-Palmolive Co. will post $2.81 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 22nd will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Wednesday, July 20th.
In related news, CTO Patricia Verduin sold 3,666 shares of the business’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $74.98, for a total value of $274,876.68. Following the completion of the transaction, the chief technology officer now owns 54,602 shares in the company, valued at approximately $4,094,057.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Victoria L. Dolan sold 19,334 shares of the business’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $71.76, for a total transaction of $1,387,407.84. Following the completion of the transaction, the vice president now owns 55,526 shares of the company’s stock, valued at approximately $3,984,545.76. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently bought and sold shares of CL. Brown Advisory Securities LLC boosted its position in Colgate-Palmolive by 5.5% in the fourth quarter. Brown Advisory Securities LLC now owns 15,225 shares of the company’s stock valued at $1,017,000 after buying an additional 800 shares during the period. Wetherby Asset Management Inc. boosted its position in Colgate-Palmolive by 2.6% in the fourth quarter. Wetherby Asset Management Inc. now owns 16,360 shares of the company’s stock valued at $1,090,000 after buying an additional 415 shares during the period. Giovine Capital Group LLC bought a new position in Colgate-Palmolive during the fourth quarter valued at $1,203,000. Boys Arnold & Co. Inc. boosted its position in Colgate-Palmolive by 21.8% in the fourth quarter. Boys Arnold & Co. Inc. now owns 20,786 shares of the company’s stock valued at $1,385,000 after buying an additional 3,717 shares during the period. Finally, Schnieders Capital Management LLC boosted its position in Colgate-Palmolive by 1.0% in the fourth quarter. Schnieders Capital Management LLC now owns 21,920 shares of the company’s stock valued at $1,460,000 after buying an additional 225 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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