Colgate-Palmolive (NYSE:CL) Given Average Recommendation of “Hold” by Analysts

Shares of Colgate-Palmolive (NYSE:CLGet Rating) have received a consensus recommendation of “Hold” from the twenty-one ratings firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $84.53.

A number of equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Colgate-Palmolive from $91.00 to $88.00 in a research report on Monday, May 2nd. Barclays cut their price objective on shares of Colgate-Palmolive from $77.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Monday, May 23rd. Stifel Nicolaus cut their price objective on shares of Colgate-Palmolive from $90.00 to $88.00 in a research report on Wednesday, April 13th. Raymond James began coverage on shares of Colgate-Palmolive in a research report on Thursday, April 7th. They issued a “market perform” rating on the stock. Finally, StockNews.com cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Wednesday, April 13th.

Shares of CL opened at $78.78 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 0.67 and a debt-to-equity ratio of 10.42. The stock has a market capitalization of $66.01 billion, a P/E ratio of 32.55, a price-to-earnings-growth ratio of 5.28 and a beta of 0.56. The firm’s fifty day simple moving average is $78.43 and its two-hundred day simple moving average is $79.21. Colgate-Palmolive has a 12 month low of $72.20 and a 12 month high of $85.61.

Colgate-Palmolive (NYSE:CLGet Rating) last issued its quarterly earnings results on Friday, April 29th. The company reported $0.74 EPS for the quarter, meeting analysts’ consensus estimates of $0.74. The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.40 billion. Colgate-Palmolive had a net margin of 11.70% and a return on equity of 296.77%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 earnings per share. As a group, research analysts predict that Colgate-Palmolive will post 3.08 EPS for the current fiscal year.

Colgate-Palmolive declared that its board has approved a share repurchase plan on Thursday, March 10th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to repurchase up to 8.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

The company also recently declared a quarterly dividend, which was paid on Friday, May 13th. Stockholders of record on Thursday, April 21st were given a dividend of $0.47 per share. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.45. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend was Wednesday, April 20th. Colgate-Palmolive’s payout ratio is 77.69%.

In related news, VP Philip G. Shotts sold 10,000 shares of the company’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $78.52, for a total value of $785,200.00. Following the completion of the transaction, the vice president now directly owns 46,094 shares in the company, valued at $3,619,300.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John W. Kooyman sold 19,683 shares of the company’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $78.49, for a total transaction of $1,544,918.67. Following the completion of the transaction, the insider now owns 7,007 shares of the company’s stock, valued at $549,979.43. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of CL. Core Alternative Capital raised its stake in shares of Colgate-Palmolive by 924.3% during the first quarter. Core Alternative Capital now owns 379 shares of the company’s stock valued at $29,000 after acquiring an additional 342 shares during the last quarter. Verity Asset Management Inc. bought a new position in shares of Colgate-Palmolive during the first quarter valued at about $29,000. Horan Securities Inc. bought a new position in shares of Colgate-Palmolive during the fourth quarter valued at about $30,000. Carl Stuart Investment Advisor Inc. bought a new position in shares of Colgate-Palmolive during the first quarter valued at about $30,000. Finally, Fortis Advisors LLC bought a new position in shares of Colgate-Palmolive during the third quarter valued at about $38,000. Institutional investors and hedge funds own 78.12% of the company’s stock.

About Colgate-Palmolive (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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