Colgate-Palmolive (NYSE:CL) Hits New 52-Week High After Analyst Upgrade

Shares of Colgate-Palmolive (NYSE:CL) reached a new 52-week high during mid-day trading on Friday after Deutsche Bank raised their price target on the stock from $74.00 to $76.00. Deutsche Bank currently has a hold rating on the stock. Colgate-Palmolive traded as high as $74.33 and last traded at $74.22, with a volume of 96542 shares trading hands. The stock had previously closed at $73.89.

A number of other equities research analysts have also recently issued reports on the company. JPMorgan Chase & Co. set a €118.00 ($137.21) target price on Deutsche Boerse and gave the company a “neutral” rating in a research note on Monday, April 29th. UBS Group raised their target price on Colgate-Palmolive from $71.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, March 29th. Wells Fargo & Co reiterated a “hold” rating and issued a $68.00 target price (up from $65.00) on shares of Colgate-Palmolive in a research note on Monday, June 17th. Morgan Stanley raised their target price on Thomson Reuters from $66.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Finally, ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research note on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company. Colgate-Palmolive currently has a consensus rating of “Hold” and a consensus price target of $71.19.

In other news, insider Ian M. Cook sold 19,500 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $72.25, for a total transaction of $1,408,875.00. Following the transaction, the insider now directly owns 1,147,042 shares of the company’s stock, valued at $82,873,784.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ian M. Cook sold 17,750 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $68.61, for a total value of $1,217,827.50. Following the transaction, the insider now directly owns 1,111,293 shares in the company, valued at $76,245,812.73. The disclosure for this sale can be found here. Insiders have sold 360,434 shares of company stock worth $25,680,549 over the last three months. Corporate insiders own 1.14% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank acquired a new position in Colgate-Palmolive during the fourth quarter worth about $488,436,000. FMR LLC grew its holdings in Colgate-Palmolive by 29.1% during the first quarter. FMR LLC now owns 7,384,604 shares of the company’s stock worth $506,141,000 after acquiring an additional 1,665,348 shares during the period. Ronna Sue Cohen grew its holdings in Colgate-Palmolive by 6,221.2% during the first quarter. Ronna Sue Cohen now owns 854,749 shares of the company’s stock worth $855,000 after acquiring an additional 841,227 shares during the period. Geode Capital Management LLC grew its holdings in Colgate-Palmolive by 7.9% during the fourth quarter. Geode Capital Management LLC now owns 10,540,277 shares of the company’s stock worth $626,200,000 after acquiring an additional 768,550 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in Colgate-Palmolive by 1,647.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 754,526 shares of the company’s stock worth $44,936,000 after acquiring an additional 711,339 shares during the period. 75.60% of the stock is currently owned by institutional investors.

The stock has a fifty day moving average price of $72.50. The stock has a market capitalization of $63.44 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 4.84 and a beta of 0.78. The company has a debt-to-equity ratio of 32.25, a current ratio of 1.07 and a quick ratio of 0.74.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, April 26th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The firm had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.86 billion. Colgate-Palmolive had a return on equity of 25,268.29% and a net margin of 15.08%. Colgate-Palmolive’s revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.74 earnings per share. As a group, sell-side analysts predict that Colgate-Palmolive will post 2.84 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, July 18th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Wednesday, July 17th. Colgate-Palmolive’s payout ratio is currently 57.91%.

Colgate-Palmolive Company Profile (NYSE:CL)

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.

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