KeyCorp Brokers Boost Earnings Estimates for Colgate-Palmolive Company (CL)
Colgate-Palmolive Company (NYSE:CL) – KeyCorp increased their FY2017 EPS estimates for shares of Colgate-Palmolive in a report issued on Monday. KeyCorp analyst J. Gere now anticipates that the company will earn $2.89 per share for the year, up from their previous forecast of $2.88. KeyCorp currently has a “Hold” rating on the stock.
CL has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. 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. SunTrust Banks, Inc. raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and raised their price objective for the stock from $65.00 to $85.00 in a report on Wednesday, October 11th. Morgan Stanley raised shares of Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $75.00 to $84.00 in a report on Monday, September 25th. Finally, Macquarie initiated coverage on shares of Colgate-Palmolive in a report on Thursday, September 14th. They set a “neutral” rating and a $76.00 price objective on the stock. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. Colgate-Palmolive currently has an average rating of “Hold” and an average target price of $76.85.
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Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.72. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. The business had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the prior year, the business posted $0.70 EPS. Colgate-Palmolive’s revenue for the quarter was down .5% compared to the same quarter last year.
Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings 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 valued at $5,031,602,000 after acquiring an additional 1,621,392 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Colgate-Palmolive by 0.9% in the 1st 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 acquiring an additional 169,798 shares during the period. Renaissance Technologies LLC increased its holdings 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 valued at $723,020,000 after acquiring an additional 2,903,800 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Colgate-Palmolive by 25.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,854,323 shares of the company’s stock valued at $508,111,000 after buying an additional 1,385,946 shares during the period. Finally, First Eagle Investment Management LLC increased its stake in Colgate-Palmolive by 2.3% in the 2nd quarter. First Eagle Investment Management LLC now owns 4,891,131 shares of the company’s stock valued at $362,580,000 after buying an additional 108,850 shares during the period. 73.09% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP John J. Huston sold 14,000 shares of Colgate-Palmolive stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $71.36, for a total value of $999,040.00. Following the transaction, the senior vice president now directly owns 88,598 shares of the company’s stock, valued at approximately $6,322,353.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Patricia Verduin sold 3,833 shares of Colgate-Palmolive stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $71.45, for a total transaction of $273,867.85. Following the completion of the transaction, the insider now directly owns 53,173 shares in the company, valued at $3,799,210.85. The disclosure for this sale can be found here. Insiders sold a total of 214,136 shares of company stock worth $15,416,385 over the last ninety days. Corporate insiders own 1.02% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Monday, October 23rd will be issued a $0.40 dividend. The ex-dividend date is Friday, October 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.13%. Colgate-Palmolive’s payout ratio is 59.48%.
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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