Colgate-Palmolive Company (NYSE:CL) posted its earnings results on Friday, July 21st. The company reported $0.72 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.72, Bloomberg Earnings reports. Colgate-Palmolive had a return on equity of 3,121.95% and a net margin of 15.83%. The company had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the company earned $0.70 earnings per share. Colgate-Palmolive’s revenue was down .5% on a year-over-year basis.
Shares of Colgate-Palmolive (NYSE CL) opened at 71.57 on Thursday. Colgate-Palmolive has a 52-week low of $63.43 and a 52-week high of $77.27. The stock has a market cap of $63.04 billion, a PE ratio of 26.60 and a beta of 0.80. The company’s 50 day moving average price is $73.08 and its 200 day moving average price is $72.72.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, July 18th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Friday, July 14th. Colgate-Palmolive’s dividend payout ratio is currently 59.48%.
A number of research analysts have weighed in on CL shares. Bank of America Corporation increased their target price on Colgate-Palmolive from $78.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, May 31st. Zacks Investment Research downgraded Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Vetr downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $76.67 target price on the stock. in a report on Wednesday, May 17th. Royal Bank Of Canada reissued a “hold” rating and issued a $74.00 target price on shares of Colgate-Palmolive in a report on Thursday, May 25th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $76.00 price target on shares of Colgate-Palmolive in a research report on Wednesday, May 17th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $75.82.
In other Colgate-Palmolive news, insider Patricia Verduin sold 3,833 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $75.67, for a total transaction of $290,043.11. Following the completion of the sale, the insider now directly owns 53,022 shares in the company, valued at approximately $4,012,174.74. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ellen M. Hancock sold 5,057 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $71.91, for a total value of $363,648.87. Following the sale, the director now owns 199,777 shares of the company’s stock, valued at $14,365,964.07. The disclosure for this sale can be found here. In the last 90 days, insiders sold 203,969 shares of company stock valued at $14,711,068. 1.02% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of the stock. Two Sigma Investments LP raised its stake in Colgate-Palmolive by 56.8% in the fourth quarter. Two Sigma Investments LP now owns 2,341,961 shares of the company’s stock worth $153,258,000 after buying an additional 848,702 shares during the period. Wallace Capital Management Inc. raised its stake in Colgate-Palmolive by 4.0% in the fourth quarter. Wallace Capital Management Inc. now owns 19,968 shares of the company’s stock worth $1,307,000 after buying an additional 770 shares during the period. Loomis Sayles & Co. L P raised its stake in Colgate-Palmolive by 0.6% in the fourth quarter. Loomis Sayles & Co. L P now owns 19,610 shares of the company’s stock worth $1,284,000 after buying an additional 119 shares during the period. Alyeska Investment Group L.P. raised its stake in Colgate-Palmolive by 39.4% in the fourth quarter. Alyeska Investment Group L.P. now owns 790,511 shares of the company’s stock worth $51,731,000 after buying an additional 223,235 shares during the period. Finally, NWQ Investment Management Company LLC bought a new stake in Colgate-Palmolive during the fourth quarter worth about $202,000. Institutional investors and hedge funds own 73.85% of the company’s stock.
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.
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