Colgate-Palmolive (CL) Rating Increased to Hold at Zacks Investment Research
Colgate-Palmolive (NYSE:CL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Colgate has outperformed the industry in the last three months driven by smooth progress on its savings plan. The company is progressing well with its Global Growth and Efficiency Program along with additional savings anticipated from the recent expansion of the program. Moreover, the company has been infamous with investors for its meet or beat earnings track record. It also remains confident of the brand building and productivity maximization initiatives, which are likely to boost results. However, Colgate has been witnessing strained margins lately due to higher raw material and packaging costs, as well as advertising expenses. Though the company expects improved adjusted gross margin in 2018, it anticipates advertising costs to remain high, which should hurt operating margin. Moreover, it expects the backdrop to remain challenging in 2018. Nonetheless, estimates have been lately stable ahead of first-quarter 2018 earnings release.”
A number of other equities analysts have also recently issued reports on CL. Macquarie raised Colgate-Palmolive from a “neutral” rating to an “outperform” rating and set a $81.00 target price for the company in a report on Tuesday, December 19th. Jefferies Group reaffirmed a “hold” rating and issued a $79.00 target price on shares of Colgate-Palmolive in a report on Friday, January 26th. BNP Paribas cut Colgate-Palmolive from an “outperform” rating to an “underperform” rating in a report on Tuesday, January 30th. Citigroup upped their target price on Colgate-Palmolive from $75.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. Finally, Barclays set a $75.00 target price on Colgate-Palmolive and gave the stock a “hold” rating in a report on Thursday, March 15th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $77.76.
Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, January 26th. The company reported $0.75 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.75. Colgate-Palmolive had a return on equity of 1,716.69% and a net margin of 13.10%. The business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. equities research analysts expect that Colgate-Palmolive will post 3.18 EPS for the current year.
In related news, insider Daniel B. Marsili sold 5,692 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $70.19, for a total transaction of $399,521.48. Following the sale, the insider now owns 41,677 shares in the company, valued at approximately $2,925,308.63. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP John J. Huston sold 1,524 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $70.17, for a total value of $106,939.08. Following the sale, the senior vice president now owns 87,376 shares in the company, valued at approximately $6,131,173.92. The disclosure for this sale can be found here. In the last three months, insiders sold 454,805 shares of company stock valued at $32,375,038. Insiders own 1.02% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Colgate-Palmolive by 1.4% during the 4th quarter. BlackRock Inc. now owns 52,360,691 shares of the company’s stock valued at $3,950,614,000 after purchasing an additional 711,972 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Colgate-Palmolive by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 8,975,479 shares of the company’s stock valued at $675,751,000 after purchasing an additional 188,455 shares in the last quarter. First Eagle Investment Management LLC boosted its position in shares of Colgate-Palmolive by 35.8% during the 3rd quarter. First Eagle Investment Management LLC now owns 6,641,548 shares of the company’s stock valued at $483,837,000 after purchasing an additional 1,750,417 shares in the last quarter. OppenheimerFunds Inc. boosted its position in shares of Colgate-Palmolive by 2.8% during the 4th quarter. OppenheimerFunds Inc. now owns 6,173,804 shares of the company’s stock valued at $465,813,000 after purchasing an additional 166,537 shares in the last quarter. Finally, APG Asset Management N.V. boosted its position in shares of Colgate-Palmolive by 33.2% during the 4th quarter. APG Asset Management N.V. now owns 5,421,184 shares of the company’s stock valued at $340,630,000 after purchasing an additional 1,350,400 shares in the last quarter. Institutional investors own 73.64% of the company’s stock.
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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