Colgate-Palmolive Co. (CL) Rating Reiterated by Wells Fargo & Co.
Colgate-Palmolive Co. (NYSE:CL)‘s stock had its “market perform” rating reissued by equities research analysts at Wells Fargo & Co. in a report issued on Tuesday.
Other equities analysts have also issued reports about the stock. Bank of America Corp. raised shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $70.86 to $80.00 in a report on Monday, September 12th. Citigroup Inc. lifted their price target on shares of Colgate-Palmolive from $82.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, July 29th. KeyCorp initiated coverage on shares of Colgate-Palmolive in a report on Thursday, September 8th. They issued a “sector weight” rating on the stock. Deutsche Bank AG reaffirmed a “hold” rating and issued a $75.00 price target (up from $73.00) on shares of Colgate-Palmolive in a report on Sunday, July 24th. Finally, BNP Paribas lowered shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating and set a $76.00 price target on the stock. in a report on Friday, July 29th. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Colgate-Palmolive presently has a consensus rating of “Hold” and an average price target of $76.04.
Shares of Colgate-Palmolive (NYSE:CL) opened at 66.74 on Tuesday. The stock has a 50 day moving average price of $71.17 and a 200 day moving average price of $72.47. The stock has a market capitalization of $59.32 billion, a price-to-earnings ratio of 43.65 and a beta of 0.73. Colgate-Palmolive has a 1-year low of $61.40 and a 1-year high of $75.38.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.73 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.73. The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.94 billion. Colgate-Palmolive had a net margin of 8.96% and a return on equity of 6,924.14%. Colgate-Palmolive’s revenue was down 3.3% compared to the same quarter last year. During the same period last year, the company posted $0.80 earnings per share. Equities research analysts anticipate that Colgate-Palmolive will post $2.82 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Monday, October 24th were given a $0.39 dividend. The ex-dividend date of this dividend was Thursday, October 20th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.34%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 101.96%.
In other Colgate-Palmolive news, insider Patricia Verduin sold 3,834 shares of the company’s stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $72.39, for a total value of $277,543.26. Following the completion of the transaction, the insider now owns 55,013 shares in the company, valued at $3,982,391.07. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.05% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Osborn Rohs Williams & Donohoe Ltd boosted its stake in Colgate-Palmolive by 0.3% in the second quarter. Osborn Rohs Williams & Donohoe Ltd now owns 35,117 shares of the company’s stock worth $2,571,000 after buying an additional 116 shares in the last quarter. Lebenthal Asset Management LLC bought a new stake in Colgate-Palmolive during the first quarter worth approximately $763,000. Cullinan Associates Inc. boosted its stake in Colgate-Palmolive by 3.1% in the first quarter. Cullinan Associates Inc. now owns 210,017 shares of the company’s stock worth $14,838,000 after buying an additional 6,378 shares in the last quarter. Phocas Financial Corp. boosted its stake in Colgate-Palmolive by 6.9% in the first quarter. Phocas Financial Corp. now owns 7,780 shares of the company’s stock worth $550,000 after buying an additional 500 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in Colgate-Palmolive by 2.2% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 314,840 shares of the company’s stock worth $22,256,000 after buying an additional 6,888 shares in the last quarter. 73.11% of the stock is owned by institutional investors and hedge funds.
Colgate-Palmolive Company (Colgate) is a consumer products company, whose products are marketed in over 200 countries and territories throughout the world. The Company’s segments include Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through over five geographic segments, which include North America, Latin America, Europe/South Pacific, Asia and Africa/Eurasia.
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