Colgate-Palmolive (CL) Downgraded to “Hold” at Zacks Investment Research
Colgate-Palmolive (NYSE:CL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday.
According to Zacks, “Colgate has outperformed the industry in the past month. The company is encouraged by the progress on the Global Growth and Efficiency Program along with additional savings anticipated from the recent expansion of the program. Moreover, the company has been infamous among investors with its meet or beat earnings track record. Though it posted in-line earnings and topped sales estimates in third-quarter 2017, margins remained strained due to increased raw material and packaging costs, as well as higher advertising expenses. Further, it anticipates these costs to persist and impact margins in 2017. The company also perked up its costs guidance related to charges arising from the expansion and extension of the Global Growth and Efficiency Program through Dec 31, 2019. Nonetheless, Colgate’s shareholder-friendly moves remain noteworthy. Estimates have been stable lately ahead of the fourth quarter earnings release.”
A number of other research analysts have also issued reports on the company. Morgan Stanley upgraded Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $75.00 to $84.00 in a research report on Monday, September 25th. Jefferies Group reiterated a “hold” rating and set a $79.00 target price on shares of Colgate-Palmolive in a research report on Thursday, September 28th. Royal Bank of Canada reiterated a “hold” rating and set a $74.00 target price on shares of Colgate-Palmolive in a research report on Sunday, October 8th. SunTrust Banks upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating and increased their target price for the company from $65.00 to $85.00 in a research report on Wednesday, October 11th. Finally, KeyCorp reiterated a “hold” rating on shares of Colgate-Palmolive in a research report on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $76.51.
Shares of Colgate-Palmolive (NYSE CL) traded up $0.07 during midday trading on Monday, hitting $74.62. 2,338,100 shares of the stock were exchanged, compared to its average volume of 2,745,422. The firm has a market cap of $65,520.00, a PE ratio of 28.81, a price-to-earnings-growth ratio of 3.15 and a beta of 0.81. Colgate-Palmolive has a twelve month low of $63.43 and a twelve month high of $77.27. The company has a quick ratio of 0.92, a current ratio of 1.23 and a debt-to-equity ratio of 24.42.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, October 27th. The company reported $0.73 EPS for the quarter, hitting analysts’ consensus estimates of $0.73. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.94 billion. Colgate-Palmolive had a net margin of 15.10% and a return on equity of 2,782.56%. The business’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the company earned $0.73 EPS. equities analysts forecast that Colgate-Palmolive will post 2.88 EPS for the current year.
In other Colgate-Palmolive news, insider Victoria L. Dolan sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $73.07, for a total value of $730,700.00. Following the completion of the sale, the insider now directly owns 60,528 shares of the company’s stock, valued at approximately $4,422,780.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Mukul Deoras sold 7,500 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $73.28, for a total value of $549,600.00. Following the completion of the sale, the chief marketing officer now directly owns 45,217 shares of the company’s stock, valued at $3,313,501.76. The disclosure for this sale can be found here. Insiders sold a total of 181,950 shares of company stock worth $13,237,385 in the last 90 days. 1.02% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of CL. Nisa Investment Advisors LLC increased its position in shares of Colgate-Palmolive by 1.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 366,911 shares of the company’s stock worth $27,683,000 after purchasing an additional 3,904 shares during the last quarter. Country Club Trust Company n.a. increased its position in shares of Colgate-Palmolive by 10.6% during the 4th quarter. Country Club Trust Company n.a. now owns 7,875 shares of the company’s stock worth $594,000 after purchasing an additional 753 shares during the last quarter. Independence Advisors LLC acquired a new stake in shares of Colgate-Palmolive during the 4th quarter worth about $898,000. KAMES CAPITAL plc increased its position in shares of Colgate-Palmolive by 0.3% during the 4th quarter. KAMES CAPITAL plc now owns 546,471 shares of the company’s stock worth $41,259,000 after purchasing an additional 1,843 shares during the last quarter. Finally, Sawyer & Company Inc acquired a new stake in shares of Colgate-Palmolive during the 4th quarter worth about $2,010,000. 72.86% of the stock is owned by institutional investors and hedge funds.
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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