Colgate-Palmolive Company (CL) Shares Gap Up to $71.19
Colgate-Palmolive Company (NYSE:CL)’s share price gapped up before the market opened on Monday . The stock had previously closed at $69.33, but opened at $71.19. Colgate-Palmolive shares last traded at $72.99, with a volume of 6,018,749 shares.
CL has been the subject of a number of analyst reports. Bank of America Corporation raised their price objective on Colgate-Palmolive from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, May 31st. BidaskClub cut Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $74.00 target price on shares of Colgate-Palmolive in a research note on Friday, June 30th. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research note on Tuesday, July 4th. Finally, Jefferies Group LLC raised their target price on Colgate-Palmolive from $76.00 to $77.00 and gave the stock a “hold” rating in a research note on Thursday, July 6th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $76.18.
The company’s 50 day moving average price is $71.58 and its 200 day moving average price is $73.27. The stock has a market capitalization of $64.29 billion, a PE ratio of 27.12 and a beta of 0.80.
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 analysts’ consensus estimates of $0.72. Colgate-Palmolive had a return on equity of 3,121.95% and a net margin of 15.83%. The firm had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the business earned $0.70 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. Equities analysts expect that Colgate-Palmolive Company will post $2.89 EPS for the current fiscal year.
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 in the company, valued at approximately $3,839,323.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ellen M. Hancock sold 5,057 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $71.91, for a total value of $363,648.87. Following the completion of the sale, the director now owns 199,777 shares in the company, valued at approximately $14,365,964.07. The disclosure for this sale can be found here. Insiders sold a total of 217,969 shares of company stock worth $15,693,933 in the last 90 days. 1.02% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of CL. Renaissance Technologies LLC grew its stake in shares of Colgate-Palmolive by 42.4% in the 2nd quarter. Renaissance Technologies LLC now owns 9,753,400 shares of the company’s stock worth $723,020,000 after buying an additional 2,903,800 shares during the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of Colgate-Palmolive by 84.2% in the 1st quarter. TIAA CREF Investment Management LLC now owns 4,554,989 shares of the company’s stock worth $333,380,000 after buying an additional 2,082,262 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Colgate-Palmolive by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 67,875,384 shares of the company’s stock worth $5,031,602,000 after buying an additional 1,621,392 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Colgate-Palmolive by 25.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,854,323 shares of the company’s stock worth $508,111,000 after buying an additional 1,385,946 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its stake in shares of Colgate-Palmolive by 77.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 3,092,033 shares of the company’s stock worth $229,212,000 after buying an additional 1,353,177 shares during the last quarter. Institutional investors own 73.10% of the company’s stock.
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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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