Colgate-Palmolive (CL) Rating Increased to Hold at Zacks Investment Research

Colgate-Palmolive (NYSE:CL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “Colgate has outperformed the industry in the last three months driven by smooth progress on its savings plan. The company is progressing well with its Global Growth and Efficiency Program along with additional savings anticipated from the recent expansion of the program. Moreover, the company has been infamous with investors for its meet or beat earnings track record. It also remains confident of the brand building and productivity maximization initiatives, which are likely to boost results. However, Colgate has been witnessing strained margins lately due to higher raw material and packaging costs, as well as advertising expenses. Though the company expects improved adjusted gross margin in 2018, it anticipates advertising costs to remain high, which should hurt operating margin. Moreover, it expects the backdrop to remain challenging in 2018. Nonetheless, estimates have been lately stable ahead of first-quarter 2018 earnings release.”

CL has been the topic of a number of other reports. Macquarie raised Colgate-Palmolive from a “neutral” rating to an “outperform” rating and set a $81.00 target price on the stock in a report on Tuesday, December 19th. Jefferies Group reissued a “hold” rating and set a $79.00 target price on shares of Colgate-Palmolive in a report on Friday, January 26th. BNP Paribas downgraded Colgate-Palmolive from an “outperform” rating to an “underperform” rating in a research note on Tuesday, January 30th. Barclays set a $75.00 price target on Colgate-Palmolive and gave the company a “hold” rating in a research note on Thursday, March 15th. Finally, Citigroup boosted their price target on Colgate-Palmolive from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $77.76.

Shares of CL stock traded down $0.26 during trading on Tuesday, reaching $72.18. 1,304,656 shares of the company’s stock were exchanged, compared to its average volume of 3,915,012. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 27.02. The firm has a market capitalization of $62,673.39, a PE ratio of 25.13, a PEG ratio of 2.70 and a beta of 0.74. Colgate-Palmolive has a twelve month low of $67.86 and a twelve month high of $77.91.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, January 26th. The company reported $0.75 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.75. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.92 billion. Colgate-Palmolive had a return on equity of 1,716.69% and a net margin of 13.10%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.75 EPS. sell-side analysts predict that Colgate-Palmolive will post 3.18 EPS for the current fiscal year.

In other news, CTO Patricia Verduin sold 1,572 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $70.17, for a total transaction of $110,307.24. Following the completion of the sale, the chief technology officer now directly owns 50,675 shares in the company, valued at approximately $3,555,864.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Franck J. Moison sold 142,979 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $70.09, for a total value of $10,021,398.11. Following the sale, the insider now owns 224,027 shares of the company’s stock, valued at $15,702,052.43. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 454,805 shares of company stock valued at $32,375,038. Corporate insiders own 1.02% of the company’s stock.

Several large investors have recently added to or reduced their stakes in CL. Jacobi Capital Management LLC lifted its position in shares of Colgate-Palmolive by 125.5% during the 3rd quarter. Jacobi Capital Management LLC now owns 1,443 shares of the company’s stock worth $104,000 after buying an additional 803 shares during the last quarter. Virtue Capital Management LLC bought a new stake in shares of Colgate-Palmolive during the 4th quarter worth $104,000. Calton & Associates Inc. bought a new stake in shares of Colgate-Palmolive during the 4th quarter worth $126,000. Cerebellum GP LLC bought a new stake in shares of Colgate-Palmolive during the 4th quarter worth $129,000. Finally, Trustcore Financial Services LLC bought a new stake in shares of Colgate-Palmolive during the 4th quarter worth $140,000. Hedge funds and other institutional investors own 73.64% of the company’s stock.

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About Colgate-Palmolive

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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