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

Colgate-Palmolive (NYSE:CL) has been given an average recommendation of “Hold” by the eighteen research firms that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $72.57.

A number of equities research analysts recently issued reports on the company. Wells Fargo & Co upped their target price on Colgate-Palmolive from $68.00 to $70.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Berenberg Bank initiated coverage on Colgate-Palmolive in a research note on Wednesday, October 16th. They set a “sell” rating and a $58.00 price target on the stock. Piper Jaffray Companies initiated coverage on Colgate-Palmolive in a research note on Tuesday, August 13th. They set an “overweight” rating on the stock. ValuEngine raised Colgate-Palmolive from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Bank of America reduced their price target on Colgate-Palmolive from $82.00 to $77.00 and set a “buy” rating on the stock in a research note on Monday, November 4th.

CL stock traded up $0.59 on Monday, reaching $66.96. The company had a trading volume of 246,873 shares, compared to its average volume of 4,044,669. Colgate-Palmolive has a 1 year low of $57.51 and a 1 year high of $76.41. The company has a debt-to-equity ratio of 43.94, a quick ratio of 0.70 and a current ratio of 1.03. The company’s fifty day moving average is $68.98 and its 200 day moving average is $71.49. The company has a market cap of $57.11 billion, a P/E ratio of 22.54, a PEG ratio of 5.29 and a beta of 0.73.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, November 1st. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.01. Colgate-Palmolive had a return on equity of 6,492.71% and a net margin of 15.04%. The firm had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same quarter in the prior year, the company earned $0.72 EPS. Colgate-Palmolive’s revenue was up 2.2% on a year-over-year basis. On average, sell-side analysts predict that Colgate-Palmolive will post 2.83 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Wednesday, October 23rd were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Tuesday, October 22nd. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.57%. Colgate-Palmolive’s payout ratio is 57.91%.

In related news, Chairman Ian M. Cook sold 19,500 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $73.97, for a total value of $1,442,415.00. Following the completion of the sale, the chairman now directly owns 1,088,367 shares in the company, valued at approximately $80,506,506.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Ian M. Cook sold 17,750 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $68.30, for a total value of $1,212,325.00. Following the completion of the sale, the chairman now owns 995,075 shares of the company’s stock, valued at $67,963,622.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 99,486 shares of company stock valued at $7,051,370. Insiders own 1.14% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Colgate-Palmolive by 1.4% during the second quarter. Vanguard Group Inc. now owns 76,502,840 shares of the company’s stock valued at $5,482,958,000 after acquiring an additional 1,056,530 shares in the last quarter. BlackRock Inc. grew its stake in shares of Colgate-Palmolive by 0.5% during the second quarter. BlackRock Inc. now owns 60,205,815 shares of the company’s stock valued at $4,314,949,000 after acquiring an additional 279,887 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Colgate-Palmolive by 1.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 33,456,670 shares of the company’s stock valued at $2,459,402,000 after acquiring an additional 361,992 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Colgate-Palmolive by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 20,354,779 shares of the company’s stock valued at $1,458,828,000 after acquiring an additional 573,566 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Colgate-Palmolive by 201.8% during the second quarter. Invesco Ltd. now owns 8,642,044 shares of the company’s stock valued at $619,374,000 after acquiring an additional 5,778,145 shares in the last quarter. Hedge funds and other institutional investors own 76.90% of the company’s stock.

About Colgate-Palmolive

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. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.

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Analyst Recommendations for Colgate-Palmolive (NYSE:CL)

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