Colgate-Palmolive Company (CL) Posts Quarterly Earnings Results, Hits Estimates
Colgate-Palmolive Company (NYSE:CL) released its quarterly earnings data on Friday. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.72, Bloomberg Earnings reports. Colgate-Palmolive had a return on equity of 3,725.55% and a net margin of 16.31%. The company had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the firm posted $0.70 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year.
Colgate-Palmolive (NYSE CL) traded down 0.54% during trading on Friday, hitting $71.70. The company’s stock had a trading volume of 2,820,397 shares. The firm has a market cap of $63.33 billion, a P/E ratio of 25.88 and a beta of 0.80. Colgate-Palmolive has a 12 month low of $63.43 and a 12 month high of $77.27. The firm has a 50 day moving average of $74.80 and a 200 day moving average of $72.20. Colgate-Palmolive also was the recipient of some unusual options trading on Thursday. Traders purchased 11,545 put options on the stock. This is an increase of 508% compared to the typical daily volume of 1,900 put options.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, July 18th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Friday, July 14th. Colgate-Palmolive’s payout ratio is 57.76%.
Several research firms have recently issued reports on CL. Citigroup Inc. reaffirmed a “neutral” rating and issued a $76.00 price objective (up previously from $75.00) on shares of Colgate-Palmolive in a research note on Friday, April 7th. Zacks Investment Research raised Colgate-Palmolive from a “sell” rating to a “hold” rating in a research note on Thursday, March 30th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $74.00 price objective on shares of Colgate-Palmolive in a research note on Thursday, May 25th. UBS AG reaffirmed a “neutral” rating and issued a $78.00 price objective (down previously from $79.00) on shares of Colgate-Palmolive in a research note on Tuesday, May 2nd. Finally, BidaskClub downgraded Colgate-Palmolive from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the stock. Colgate-Palmolive presently has an average rating of “Hold” and a consensus price target of $75.69.
In other news, insider Patricia Verduin sold 3,833 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $75.67, for a total transaction of $290,043.11. Following the transaction, the insider now directly owns 53,022 shares of the company’s stock, valued at $4,012,174.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP John J. Huston sold 14,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $71.53, for a total value of $1,001,420.00. Following the transaction, the senior vice president now directly owns 102,838 shares in the company, valued at $7,356,002.14. The disclosure for this sale can be found here. Insiders have sold 29,666 shares of company stock worth $2,144,371 over the last three months. Insiders own 1.02% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in Colgate-Palmolive by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 18,821,363 shares of the company’s stock valued at $1,377,537,000 after buying an additional 169,798 shares in the last quarter. Norges Bank purchased a new stake in Colgate-Palmolive during the fourth quarter valued at $455,526,000. First Eagle Investment Management LLC raised its stake in Colgate-Palmolive by 2.6% in the first quarter. First Eagle Investment Management LLC now owns 4,782,281 shares of the company’s stock valued at $350,015,000 after buying an additional 122,983 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in Colgate-Palmolive by 84.2% in the first quarter. TIAA CREF Investment Management LLC now owns 4,554,989 shares of the company’s stock valued at $333,380,000 after buying an additional 2,082,262 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Colgate-Palmolive by 5.1% in the first quarter. Legal & General Group Plc now owns 4,293,890 shares of the company’s stock valued at $314,276,000 after buying an additional 208,905 shares in the last quarter. 73.50% of the stock is currently owned by hedge funds and other institutional investors.
Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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