Colgate-Palmolive Company (NYSE:CL) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Colgate-Palmolive Company (NYSE:CL) have received a consensus rating of “Moderate Buy” from the nineteen ratings firms that are currently covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $99.00.

Several research firms have recently commented on CL. UBS Group boosted their target price on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. JPMorgan Chase & Co. cut their target price on shares of Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. Royal Bank Of Canada lifted their price target on shares of Colgate-Palmolive from $102.00 to $104.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Morgan Stanley reiterated an “overweight” rating and issued a $104.00 price target on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Finally, Rothschild & Co Redburn set a $100.00 price objective on Colgate-Palmolive and gave the company a “buy” rating in a research report on Tuesday, April 21st.

Insider Activity at Colgate-Palmolive

In other news, CEO Noel R. Wallace sold 161,021 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the sale, the chief executive officer directly owned 362,231 shares of the company’s stock, valued at $33,296,273.52. This represents a 30.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Cahill sold 4,170 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total value of $389,352.90. Following the transaction, the director owned 28,373 shares of the company’s stock, valued at $2,649,187.01. This represents a 12.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Colgate-Palmolive

A number of hedge funds have recently bought and sold shares of CL. Vanguard Group Inc. increased its holdings in shares of Colgate-Palmolive by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company’s stock worth $6,633,570,000 after buying an additional 1,026,985 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Colgate-Palmolive by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company’s stock valued at $1,754,657,000 after acquiring an additional 304,426 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Colgate-Palmolive by 1.7% in the 4th quarter. Morgan Stanley now owns 19,246,217 shares of the company’s stock valued at $1,520,836,000 after acquiring an additional 323,367 shares during the last quarter. Bank of New York Mellon Corp grew its position in Colgate-Palmolive by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 13,532,417 shares of the company’s stock worth $1,240,652,000 after acquiring an additional 1,010,872 shares in the last quarter. Finally, Norges Bank bought a new stake in Colgate-Palmolive during the fourth quarter worth approximately $861,670,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 1.1%

Shares of CL opened at $91.90 on Monday. The business’s 50 day moving average is $91.67 and its 200 day moving average is $89.99. The company has a market capitalization of $73.26 billion, a PE ratio of 36.47, a price-to-earnings-growth ratio of 4.54 and a beta of 0.33. Colgate-Palmolive has a 12-month low of $74.54 and a 12-month high of $99.33. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The company had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.36 billion. During the same period in the previous year, the firm earned $0.92 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. Research analysts expect that Colgate-Palmolive will post 3.86 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. Colgate-Palmolive’s dividend payout ratio is presently 84.13%.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.