Investors Buy Colgate-Palmolive Company (CL) on Weakness
Traders bought shares of Colgate-Palmolive Company (NYSE:CL) on weakness during trading on Friday. $55.12 million flowed into the stock on the tick-up and $23.07 million flowed out of the stock on the tick-down, for a money net flow of $32.05 million into the stock. Of all stocks tracked, Colgate-Palmolive had the 29th highest net in-flow for the day. Colgate-Palmolive traded down ($0.18) for the day and closed at $71.19
Several research firms recently weighed in on CL. Macquarie began coverage on Colgate-Palmolive in a report on Thursday, September 14th. They set a “neutral” rating and a $76.00 price objective on the stock. Zacks Investment Research downgraded Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Wednesday. BidaskClub downgraded Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Jefferies Group LLC reissued a “hold” rating and set a $79.00 price objective on shares of Colgate-Palmolive in a report on Thursday, August 24th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $74.00 price objective on shares of Colgate-Palmolive in a report on Friday, June 30th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company. Colgate-Palmolive presently has a consensus rating of “Hold” and an average target price of $75.83.
The firm has a market capitalization of $62.71 billion, a PE ratio of 26.45 and a beta of 0.80. The firm has a 50-day moving average of $71.58 and a 200-day moving average of $73.27.
Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, July 21st. The company reported $0.72 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.72. The company had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.89 billion. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. Colgate-Palmolive’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.70 earnings per share. On average, equities research analysts predict that Colgate-Palmolive Company will post $2.89 earnings per share for the current year.
In other news, COO Justin Skala sold 74,374 shares of the stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $72.51, for a total transaction 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 $7,046,304.27. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Patricia Verduin sold 3,833 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $71.45, for a total transaction of $273,867.85. Following the sale, the insider now owns 53,173 shares of the company’s stock, valued at $3,799,210.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 217,969 shares of company stock valued at $15,693,933. 1.02% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of CL. American Beacon Advisors Inc. purchased a new stake in shares of Colgate-Palmolive during the first quarter worth about $102,000. Proficio Capital Partners LLC boosted its holdings in shares of Colgate-Palmolive by 16.9% during the first quarter. Proficio Capital Partners LLC now owns 1,432 shares of the company’s stock worth $107,000 after purchasing an additional 207 shares during the period. OLD Second National Bank of Aurora purchased a new stake in shares of Colgate-Palmolive during the second quarter worth about $109,000. Krilogy Financial LLC boosted its holdings in shares of Colgate-Palmolive by 23.0% during the second quarter. Krilogy Financial LLC now owns 1,547 shares of the company’s stock worth $115,000 after purchasing an additional 289 shares during the period. Finally, Harbour Capital Advisors LLC purchased a new stake in shares of Colgate-Palmolive during the first quarter worth about $121,000. Institutional investors own 73.10% of the company’s stock.
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Colgate-Palmolive Company Profile
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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