Colgate-Palmolive (NYSE:CL) Given “Buy” Rating at Evercore ISI

Evercore ISI reaffirmed their buy rating on shares of Colgate-Palmolive (NYSE:CL) in a research note issued to investors on Monday morning, AnalystRatings.com reports. Evercore ISI currently has a $80.00 target price on the stock.

A number of other brokerages have also recently issued reports on CL. Morgan Stanley set a $71.00 price target on shares of Colgate-Palmolive and gave the company a hold rating in a research report on Monday, November 4th. JPMorgan Chase & Co. lowered their price target on shares of Colgate-Palmolive from $78.00 to $76.00 and set a neutral rating for the company in a research report on Monday, October 14th. ValuEngine raised shares of Colgate-Palmolive from a sell rating to a hold rating in a research report on Thursday, November 14th. Berenberg Bank started coverage on shares of Colgate-Palmolive in a research report on Wednesday, October 16th. They set a sell rating and a $58.00 price target for the company. Finally, Bank of America cut shares of Colgate-Palmolive from a buy rating to a neutral rating and lowered their price target for the company from $77.00 to $74.00 in a research report on Thursday, December 19th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $73.36.

NYSE CL traded down $0.02 during trading hours on Monday, reaching $70.08. 365,190 shares of the company’s stock traded hands, compared to its average volume of 3,326,977. Colgate-Palmolive has a 52-week low of $61.60 and a 52-week high of $76.41. The firm has a market cap of $60.25 billion, a PE ratio of 25.96, a PEG ratio of 5.43 and a beta of 0.71. The firm has a 50-day simple moving average of $69.27 and a 200 day simple moving average of $70.23. The company has a debt-to-equity ratio of 43.94, a current ratio of 1.03 and a quick ratio of 0.70.

Colgate-Palmolive (NYSE:CL) last issued its quarterly 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 net margin of 15.04% and a return on equity of 6,492.71%. The company had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.95 billion. During the same period last year, the company posted $0.72 EPS. Colgate-Palmolive’s revenue was up 2.2% on a year-over-year basis. Sell-side analysts forecast that Colgate-Palmolive will post 2.83 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, January 23rd will be paid a dividend of $0.43 per share. The ex-dividend date is Wednesday, January 22nd. This represents a $1.72 dividend on an annualized basis and a yield of 2.45%. Colgate-Palmolive’s dividend payout ratio is currently 57.91%.

In other news, Chairman Ian M. Cook sold 17,750 shares of Colgate-Palmolive stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $68.85, for a total value of $1,222,087.50. Following the completion of the sale, the chairman now directly owns 1,081,611 shares in the company, valued at $74,468,917.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Ian M. Cook sold 19,500 shares of Colgate-Palmolive stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $70.73, for a total transaction of $1,379,235.00. Following the completion of the sale, the chairman now owns 1,044,361 shares of the company’s stock, valued at $73,867,653.53. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 87,000 shares of company stock valued at $5,948,528. 1.14% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in CL. Bridger Capital Management LLC grew its position in Colgate-Palmolive by 0.8% during the third quarter. Bridger Capital Management LLC now owns 18,265 shares of the company’s stock valued at $1,243,000 after buying an additional 150 shares during the period. Park National Corp OH grew its position in Colgate-Palmolive by 0.3% during the fourth quarter. Park National Corp OH now owns 56,228 shares of the company’s stock valued at $3,871,000 after buying an additional 150 shares during the period. Rikoon Group LLC grew its position in Colgate-Palmolive by 2.5% during the fourth quarter. Rikoon Group LLC now owns 6,215 shares of the company’s stock valued at $428,000 after buying an additional 152 shares during the period. Smith Salley & Associates grew its position in Colgate-Palmolive by 0.8% during the fourth quarter. Smith Salley & Associates now owns 20,529 shares of the company’s stock valued at $1,414,000 after buying an additional 155 shares during the period. Finally, Cornerstone Advisors Inc. grew its position in Colgate-Palmolive by 3.0% during the third quarter. Cornerstone Advisors Inc. now owns 5,399 shares of the company’s stock valued at $397,000 after buying an additional 159 shares during the period. Hedge funds and other institutional investors own 76.68% of the company’s stock.

Colgate-Palmolive Company Profile

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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