Traders Buy Colgate-Palmolive Company (CL) on Weakness
Traders purchased shares of Colgate-Palmolive Company (NYSE:CL) on weakness during trading hours on Monday. $38.77 million flowed into the stock on the tick-up and $19.97 million flowed out of the stock on the tick-down, for a money net flow of $18.80 million into the stock. Of all companies tracked, Colgate-Palmolive had the 21st highest net in-flow for the day. Colgate-Palmolive traded down ($0.34) for the day and closed at $71.30
Several analysts have commented on CL shares. Bank of America Corporation raised their price objective on Colgate-Palmolive from $78.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, May 31st. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a report on Tuesday, July 4th. Wells Fargo & Company reissued a “market perform” rating on shares of Colgate-Palmolive in a report on Monday, July 24th. BidaskClub lowered Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $76.00 price objective on shares of Colgate-Palmolive in a report on Wednesday, May 17th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $75.82.
The company has a market cap of $62.80 billion, a PE ratio of 26.50 and a beta of 0.80. The company has a 50-day moving average price of $71.78 and a 200 day moving average price of $73.27.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, July 21st. The company reported $0.72 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.72. The business had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Colgate-Palmolive had a return on equity of 3,121.95% and a net margin of 15.83%. The company’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.70 EPS. Analysts forecast that Colgate-Palmolive Company will post $2.89 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, July 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date was Friday, July 14th. Colgate-Palmolive’s dividend payout ratio is currently 59.48%.
In related news, insider Patricia Verduin sold 3,833 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $72.41, for a total value of $277,547.53. Following the sale, the insider now owns 53,022 shares of the company’s stock, valued at approximately $3,839,323.02. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Justin Skala sold 74,374 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $72.51, for a total value of $5,392,858.74. Following the completion of the sale, the chief operating officer now directly owns 97,177 shares in the company, valued at approximately $7,046,304.27. The disclosure for this sale can be found here. In the last 90 days, insiders sold 221,802 shares of company stock worth $15,983,976. Insiders own 1.02% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Chickasaw Capital Management LLC lifted its stake in Colgate-Palmolive by 218.3% in the 1st quarter. Chickasaw Capital Management LLC now owns 16,920 shares of the company’s stock valued at $1,238,000 after buying an additional 11,605 shares in the last quarter. Meritage Portfolio Management lifted its stake in Colgate-Palmolive by 0.3% in the 1st quarter. Meritage Portfolio Management now owns 95,879 shares of the company’s stock valued at $7,017,000 after buying an additional 255 shares in the last quarter. ProShare Advisors LLC lifted its stake in Colgate-Palmolive by 9.9% in the 1st quarter. ProShare Advisors LLC now owns 879,652 shares of the company’s stock valued at $64,382,000 after buying an additional 79,323 shares in the last quarter. Geneva Advisors LLC lifted its stake in Colgate-Palmolive by 2.5% in the 1st quarter. Geneva Advisors LLC now owns 18,051 shares of the company’s stock valued at $1,321,000 after buying an additional 438 shares in the last quarter. Finally, Hartford Financial Management Inc. lifted its stake in Colgate-Palmolive by 1.1% in the 1st quarter. Hartford Financial Management Inc. now owns 4,800 shares of the company’s stock valued at $351,000 after buying an additional 50 shares in the last quarter. 73.16% of the stock is currently owned by hedge funds and other institutional investors.
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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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