Colgate-Palmolive Co. (CL) Sets New 1-Year High at $75.38
Colgate-Palmolive Co. (NYSE:CL)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $75.38 and last traded at $74.86, with a volume of 810,782 shares. The stock had previously closed at $74.89.
CL has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a report on Monday, May 2nd. Citigroup Inc. boosted their price objective on shares of Colgate-Palmolive from $78.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, April 14th. Deutsche Bank AG reiterated a “hold” rating and issued a $75.00 price objective (up previously from $73.00) on shares of Colgate-Palmolive in a report on Sunday, July 24th. Morgan Stanley reiterated a “hold” rating on shares of Colgate-Palmolive in a report on Friday, April 29th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating and issued a $75.00 price objective on shares of Colgate-Palmolive in a report on Friday, July 29th. Fourteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $73.61.
The stock has a market capitalization of $66.84 billion and a PE ratio of 48.27. The company has a 50-day moving average of $73.77 and a 200-day moving average of $70.56.
Colgate-Palmolive (NYSE:CL) last posted its earnings results on Thursday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The firm earned $3.85 billion during the quarter, compared to analyst estimates of $3.86 billion. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 earnings per share. On average, equities analysts forecast that Colgate-Palmolive Co. will post $2.78 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 22nd will be given a $0.39 dividend. The ex-dividend date is Wednesday, July 20th. This represents a $1.56 annualized dividend and a yield of 2.08%.
In other Colgate-Palmolive news, Director Stephen I. Sadove sold 8,803 shares of the firm’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $74.28, for a total value of $653,886.84. Following the sale, the director now directly owns 26,474 shares in the company, valued at approximately $1,966,488.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Patricia Verduin sold 3,666 shares of the firm’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $71.59, for a total transaction of $262,448.94. Following the completion of the sale, the chief technology officer now owns 54,602 shares in the company, valued at $3,908,957.18. The disclosure for this sale can be found here.
Several institutional investors have added to or reduced their stakes in the company. Suntrust Banks Inc. increased its position in Colgate-Palmolive by 231.1% in the fourth quarter. Suntrust Banks Inc. now owns 722,965 shares of the company’s stock worth $48,162,000 after buying an additional 504,608 shares during the last quarter. US Bancorp DE increased its position in Colgate-Palmolive by 18.4% in the fourth quarter. US Bancorp DE now owns 1,263,704 shares of the company’s stock worth $84,188,000 after buying an additional 196,681 shares during the last quarter. BHF Kleinwort Benson Group S.A. acquired a new position in Colgate-Palmolive during the fourth quarter worth approximately $9,617,000. Bridgewater Associates LP acquired a new position in Colgate-Palmolive during the fourth quarter worth approximately $8,175,000. Finally, Dimensional Fund Advisors LP increased its position in Colgate-Palmolive by 7.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,727,860 shares of the company’s stock worth $115,121,000 after buying an additional 116,629 shares during the last quarter.
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.