Colgate-Palmolive (NYSE:CL) Lowered to “Hold” Rating by StockNews.com

StockNews.com cut shares of Colgate-Palmolive (NYSE:CL) from a buy rating to a hold rating in a report published on Wednesday morning.

Several other research analysts have also recently weighed in on the stock. Morgan Stanley reduced their price target on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Raymond James reiterated an “outperform” rating and set a $105.00 target price (down previously from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. Barclays cut their price target on Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating on the stock in a report on Friday, April 11th. Wells Fargo & Company lifted their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the company an “underweight” rating in a research report on Wednesday, April 2nd. Finally, UBS Group boosted their target price on Colgate-Palmolive from $105.00 to $109.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $102.39.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $89.91 on Wednesday. The stock’s fifty day simple moving average is $92.21 and its 200 day simple moving average is $91.58. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. The company has a market capitalization of $72.86 billion, a PE ratio of 25.54, a PEG ratio of 4.20 and a beta of 0.39. Colgate-Palmolive has a 12 month low of $85.32 and a 12 month high of $109.30.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, April 25th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. The company had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. During the same quarter last year, the firm posted $0.86 earnings per share. Colgate-Palmolive’s revenue was down 3.0% compared to the same quarter last year. On average, research analysts predict that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th will be paid a dividend of $0.52 per share. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Thursday, April 17th. Colgate-Palmolive’s payout ratio is currently 58.76%.

Colgate-Palmolive declared that its Board of Directors has authorized a stock buyback plan on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Colgate-Palmolive

Hedge funds have recently added to or reduced their stakes in the company. Westend Capital Management LLC grew its stake in shares of Colgate-Palmolive by 111.1% in the first quarter. Westend Capital Management LLC now owns 266 shares of the company’s stock valued at $25,000 after acquiring an additional 140 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in Colgate-Palmolive in the 4th quarter valued at about $26,000. Centricity Wealth Management LLC acquired a new position in shares of Colgate-Palmolive during the 4th quarter worth approximately $27,000. Cornerstone Planning Group LLC increased its holdings in shares of Colgate-Palmolive by 1,913.3% during the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock worth $28,000 after purchasing an additional 287 shares during the period. Finally, Vermillion Wealth Management Inc. acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at approximately $31,000. 80.41% of the stock is owned by institutional investors and hedge funds.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.