Colgate-Palmolive (NYSE:CL) Given Average Recommendation of “Moderate Buy” by Brokerages

Colgate-Palmolive (NYSE:CL) has been assigned a consensus rating of “Moderate Buy” from the seventeen research firms that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $93.83.

Several research analysts have issued reports on CL shares. BNP Paribas initiated coverage on Colgate-Palmolive in a research note on Monday, June 24th. They set an “outperform” rating and a $109.00 price objective for the company. Barclays boosted their price target on shares of Colgate-Palmolive from $84.00 to $85.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 30th. Citigroup raised their price objective on shares of Colgate-Palmolive from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Evercore ISI boosted their target price on Colgate-Palmolive from $90.00 to $96.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Finally, Bank of America raised their price target on Colgate-Palmolive from $90.00 to $100.00 and gave the company a “buy” rating in a report on Monday, April 29th.

Colgate-Palmolive Trading Down 1.2 %

Shares of Colgate-Palmolive stock opened at $97.04 on Wednesday. The company’s fifty day moving average price is $93.87 and its two-hundred day moving average price is $87.63. The firm has a market capitalization of $79.62 billion, a PE ratio of 30.71, a price-to-earnings-growth ratio of 3.57 and a beta of 0.39. Colgate-Palmolive has a 52-week low of $67.62 and a 52-week high of $99.08. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.06 and a quick ratio of 0.70.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, April 26th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.96 billion. During the same quarter last year, the company earned $0.73 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, analysts expect that Colgate-Palmolive will post 3.53 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be paid a $0.50 dividend. The ex-dividend date is Friday, July 19th. This represents a $2.00 dividend on an annualized basis and a yield of 2.06%. Colgate-Palmolive’s payout ratio is presently 63.29%.

Insiders Place Their Bets

In other Colgate-Palmolive news, insider Sally Massey sold 12,226 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $94.06, for a total value of $1,149,977.56. Following the transaction, the insider now owns 13,924 shares of the company’s stock, valued at $1,309,691.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider John W. Kooyman sold 3,497 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total transaction of $326,864.59. Following the completion of the transaction, the insider now directly owns 3,181 shares of the company’s stock, valued at approximately $297,328.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sally Massey sold 12,226 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the completion of the sale, the insider now owns 13,924 shares in the company, valued at $1,309,691.44. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Dark Forest Capital Management LP grew its stake in shares of Colgate-Palmolive by 84.4% in the third quarter. Dark Forest Capital Management LP now owns 9,002 shares of the company’s stock valued at $640,000 after buying an additional 4,121 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Colgate-Palmolive by 76.7% during the 3rd quarter. Federated Hermes Inc. now owns 43,703 shares of the company’s stock worth $3,108,000 after purchasing an additional 18,970 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Colgate-Palmolive by 142.0% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 496 shares of the company’s stock valued at $35,000 after purchasing an additional 291 shares during the period. Vinva Investment Management Ltd lifted its stake in Colgate-Palmolive by 9.1% in the 3rd quarter. Vinva Investment Management Ltd now owns 37,534 shares of the company’s stock valued at $2,677,000 after purchasing an additional 3,117 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in Colgate-Palmolive by 0.4% during the third quarter. Treasurer of the State of North Carolina now owns 371,243 shares of the company’s stock worth $26,399,000 after purchasing an additional 1,350 shares during the period. Institutional investors own 80.41% of the company’s stock.

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.