Colgate-Palmolive (NYSE:CL) Shares Up 5.1% – Here’s What Happened

Shares of Colgate-Palmolive Company (NYSE:CL) rose 5.1% during trading on Friday . The stock traded as high as $89.23 and last traded at $89.4530. Approximately 2,927,016 shares changed hands during trading, a decline of 54% from the average daily volume of 6,327,654 shares. The stock had previously closed at $85.10.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $102.00 price objective on shares of Colgate-Palmolive in a report on Monday, May 4th. Wall Street Zen cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. Wells Fargo & Company reduced their price objective on Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. Morgan Stanley reaffirmed an “overweight” rating on shares of Colgate-Palmolive in a report on Monday, May 4th. Finally, UBS Group increased their target price on Colgate-Palmolive from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.88.

Colgate-Palmolive Trading Up 4.1%

The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. The firm has a 50 day moving average price of $86.42 and a two-hundred day moving average price of $85.91. The company has a market cap of $70.91 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 4.41 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, May 1st. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.91 EPS. As a group, equities analysts forecast that Colgate-Palmolive Company will post 3.82 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, April 20th were paid a $0.53 dividend. The ex-dividend date was Monday, April 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 82.49%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CL. Kemnay Advisory Services Inc. bought a new position in shares of Colgate-Palmolive during the 4th quarter worth about $25,000. CBIZ Investment Advisory Services LLC raised its stake in Colgate-Palmolive by 86.7% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock worth $26,000 after buying an additional 150 shares during the period. TD Capital Management LLC boosted its holdings in Colgate-Palmolive by 61.4% in the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after acquiring an additional 124 shares in the last quarter. Triumph Capital Management grew its stake in Colgate-Palmolive by 62.9% in the fourth quarter. Triumph Capital Management now owns 329 shares of the company’s stock valued at $26,000 after acquiring an additional 127 shares during the period. Finally, Jessup Wealth Management Inc bought a new stake in shares of Colgate-Palmolive during the fourth quarter valued at approximately $26,000. 80.41% of the stock is owned by institutional investors.

About Colgate-Palmolive

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.