Colgate-Palmolive Company (NYSE:CL) Receives Hold Rating from Deutsche Bank AG

Deutsche Bank AG reiterated their hold rating on shares of Colgate-Palmolive Company (NYSE:CL) in a report issued on Monday morning. The brokerage currently has a $75.00 price objective on the stock.

A number of other brokerages have also recently commented on CL. Bank of America Corporation boosted their price objective on Colgate-Palmolive from $78.00 to $80.00 and gave the stock a buy rating in a research note on Wednesday, May 31st. Zacks Investment Research upgraded Colgate-Palmolive from a hold rating to a buy rating and set a $83.00 price objective on the stock in a research note on Tuesday, July 4th. Jefferies Group LLC initiated coverage on Colgate-Palmolive in a research note on Tuesday, April 18th. They set a hold rating and a $78.00 price objective on the stock. BidaskClub cut Colgate-Palmolive from a hold rating to a sell rating in a research note on Saturday, June 24th. Finally, Wells Fargo & Company restated a market perform rating on shares of Colgate-Palmolive in a research note on Monday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $75.83.

Shares of Colgate-Palmolive (CL) traded up 0.11% during trading on Monday, hitting $71.93. The stock had a trading volume of 696,647 shares. The company has a market cap of $63.36 billion, a PE ratio of 26.73 and a beta of 0.81. Colgate-Palmolive has a 12-month low of $63.43 and a 12-month high of $77.27. The stock’s 50 day moving average is $74.56 and its 200-day moving average is $72.34.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, July 21st. The company reported $0.72 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.72. Colgate-Palmolive had a return on equity of 3,121.95% and a net margin of 15.83%. The firm had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter last year, the firm earned $0.70 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Analysts forecast that Colgate-Palmolive will post $2.92 earnings per share for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, July 18th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Friday, July 14th. Colgate-Palmolive’s dividend payout ratio is currently 59.48%.

In related news, Director Richard J. Kogan sold 8,000 shares of the business’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $71.92, for a total value of $575,360.00. Following the completion of the sale, the director now directly owns 73,065 shares of the company’s stock, valued at $5,254,834.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Patricia Verduin sold 3,833 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $75.67, for a total value of $290,043.11. Following the completion of the sale, the insider now directly owns 53,022 shares of the company’s stock, valued at $4,012,174.74. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,666 shares of company stock valued at $2,144,371. 1.02% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Blue Chip Partners Inc. raised its stake in shares of Colgate-Palmolive by 0.4% in the first quarter. Blue Chip Partners Inc. now owns 1,805 shares of the company’s stock valued at $132,000 after buying an additional 8 shares in the last quarter. Cue Financial Group Inc. raised its stake in shares of Colgate-Palmolive by 0.3% in the second quarter. Cue Financial Group Inc. now owns 4,854 shares of the company’s stock valued at $360,000 after buying an additional 14 shares in the last quarter. Alpha Windward LLC raised its stake in shares of Colgate-Palmolive by 0.6% in the first quarter. Alpha Windward LLC now owns 2,829 shares of the company’s stock valued at $207,000 after buying an additional 18 shares in the last quarter. Cornerstone Financial Partners LLC raised its stake in shares of Colgate-Palmolive by 0.5% in the second quarter. Cornerstone Financial Partners LLC now owns 3,813 shares of the company’s stock valued at $282,000 after buying an additional 19 shares in the last quarter. Finally, Northstar Group Inc. raised its stake in shares of Colgate-Palmolive by 0.4% in the first quarter. Northstar Group Inc. now owns 4,850 shares of the company’s stock valued at $356,000 after buying an additional 20 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Company Profile

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.

Analyst Recommendations for Colgate-Palmolive (NYSE:CL)

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