Colgate-Palmolive (NYSE:CL) Earns Market Perform Rating from Analysts at Wolfe Research

Wolfe Research initiated coverage on shares of Colgate-Palmolive (NYSE:CLGet Rating) in a research note issued to investors on Monday, MarketBeat.com reports. The firm issued a market perform rating on the stock.

Several other analysts also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Colgate-Palmolive from $87.00 to $85.00 and set a buy rating on the stock in a report on Monday, October 17th. Barclays upped their price objective on shares of Colgate-Palmolive from $72.00 to $76.00 and gave the company an equal weight rating in a research note on Tuesday, November 1st. The Goldman Sachs Group reduced their price objective on shares of Colgate-Palmolive from $91.00 to $81.00 and set a buy rating on the stock in a research note on Monday, October 10th. Credit Suisse Group reduced their price objective on shares of Colgate-Palmolive from $88.00 to $85.00 and set an outperform rating on the stock in a research note on Tuesday, October 18th. Finally, UBS Group reduced their price objective on shares of Colgate-Palmolive from $90.00 to $80.00 in a research note on Thursday, October 13th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $82.42.

Colgate-Palmolive Trading Up 0.7 %

Shares of CL opened at $76.93 on Monday. Colgate-Palmolive has a twelve month low of $67.84 and a twelve month high of $85.61. The firm has a market capitalization of $64.25 billion, a P/E ratio of 33.45, a PEG ratio of 7.12 and a beta of 0.52. The company has a current ratio of 1.17, a quick ratio of 0.71 and a debt-to-equity ratio of 7.81. The firm’s 50-day moving average is $73.21 and its two-hundred day moving average is $76.71.

Colgate-Palmolive (NYSE:CLGet Rating) last announced its quarterly earnings results on Friday, October 28th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. Colgate-Palmolive had a net margin of 10.87% and a return on equity of 304.29%. The company had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.47 billion. During the same quarter in the prior year, the firm earned $0.81 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. On average, research analysts predict that Colgate-Palmolive will post 2.97 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Friday, October 21st were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.44%. The ex-dividend date was Thursday, October 20th. Colgate-Palmolive’s payout ratio is currently 81.74%.

Insider Transactions at Colgate-Palmolive

In other news, insider Prabha Parameswaran sold 48,778 shares of the stock in a transaction on Monday, August 29th. The shares were sold at an average price of $78.80, for a total value of $3,843,706.40. Following the completion of the sale, the insider now owns 6,787 shares of the company’s stock, valued at $534,815.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Sally Massey sold 656 shares of the firm’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $77.58, for a total transaction of $50,892.48. Following the completion of the sale, the insider now directly owns 7,913 shares of the company’s stock, valued at approximately $613,890.54. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Prabha Parameswaran sold 48,778 shares of the firm’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $78.80, for a total transaction of $3,843,706.40. Following the sale, the insider now directly owns 6,787 shares of the company’s stock, valued at $534,815.60. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Colgate-Palmolive

A number of large investors have recently added to or reduced their stakes in the company. TCI Wealth Advisors Inc. grew its holdings in Colgate-Palmolive by 76.0% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 315 shares of the company’s stock worth $25,000 after acquiring an additional 136 shares in the last quarter. Better Money Decisions LLC acquired a new position in Colgate-Palmolive during the 2nd quarter worth $25,000. Core Alternative Capital grew its holdings in Colgate-Palmolive by 924.3% during the 1st quarter. Core Alternative Capital now owns 379 shares of the company’s stock worth $29,000 after acquiring an additional 342 shares in the last quarter. Verity Asset Management Inc. acquired a new position in Colgate-Palmolive during the 1st quarter worth $29,000. Finally, Hallmark Capital Management Inc. grew its holdings in Colgate-Palmolive by 158.2% during the 3rd quarter. Hallmark Capital Management Inc. now owns 408 shares of the company’s stock worth $29,000 after acquiring an additional 250 shares in the last quarter. 78.62% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Company Profile

(Get Rating)

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. 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.

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Analyst Recommendations for Colgate-Palmolive (NYSE:CL)

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