Colgate-Palmolive (CL) Rating Increased to Neutral at BNP Paribas

BNP Paribas upgraded shares of Colgate-Palmolive (NYSE:CL) from an underperform rating to a neutral rating in a research note released on Monday, Marketbeat Ratings reports. The firm currently has $67.00 price target on the stock, up from their previous price target of $56.00.

CL has been the topic of a number of other research reports. Jefferies Financial Group reiterated a hold rating and issued a $61.00 target price on shares of Colgate-Palmolive in a research note on Friday, February 1st. Wells Fargo & Co reiterated a hold rating and issued a $57.00 target price on shares of Colgate-Palmolive in a research note on Thursday, January 31st. Zacks Investment Research lowered Colgate-Palmolive from a hold rating to a strong sell rating in a research note on Wednesday, January 30th. Macquarie set a $57.00 target price on Colgate-Palmolive and gave the stock a hold rating in a research note on Tuesday, January 29th. Finally, Morgan Stanley set a $62.00 target price on Colgate-Palmolive and gave the stock a hold rating in a research note on Tuesday, January 29th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company. Colgate-Palmolive currently has an average rating of Hold and a consensus price target of $65.13.

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NYSE:CL opened at $65.94 on Monday. Colgate-Palmolive has a fifty-two week low of $57.41 and a fifty-two week high of $72.61. The firm has a market cap of $56.97 billion, a P/E ratio of 22.20, a P/E/G ratio of 4.24 and a beta of 0.78.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, January 25th. The company reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Colgate-Palmolive had a return on equity of 25,268.29% and a net margin of 15.44%. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the prior year, the firm posted $0.75 EPS. Colgate-Palmolive’s quarterly revenue was down 2.1% compared to the same quarter last year. As a group, equities analysts forecast that Colgate-Palmolive will post 2.83 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Wednesday, January 23rd will be paid a dividend of $0.42 per share. The ex-dividend date is Tuesday, January 22nd. This represents a $1.68 annualized dividend and a dividend yield of 2.55%. Colgate-Palmolive’s dividend payout ratio is currently 56.57%.

In other news, Director John T. Cahill sold 5,780 shares of the firm’s stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $64.46, for a total transaction of $372,578.80. Following the transaction, the director now owns 27,820 shares in the company, valued at $1,793,277.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.02% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Cerity Partners LLC boosted its position in Colgate-Palmolive by 3.7% during the fourth quarter. Cerity Partners LLC now owns 5,466 shares of the company’s stock valued at $325,000 after purchasing an additional 197 shares in the last quarter. Curbstone Financial Management Corp boosted its position in Colgate-Palmolive by 1.2% during the fourth quarter. Curbstone Financial Management Corp now owns 16,870 shares of the company’s stock valued at $1,093,000 after purchasing an additional 200 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its position in Colgate-Palmolive by 5.3% during the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,982 shares of the company’s stock valued at $237,000 after purchasing an additional 200 shares in the last quarter. JOYN Advisors Inc. boosted its position in Colgate-Palmolive by 18.0% during the fourth quarter. JOYN Advisors Inc. now owns 1,316 shares of the company’s stock valued at $78,000 after purchasing an additional 201 shares in the last quarter. Finally, Cornerstone Advisors Inc. boosted its position in Colgate-Palmolive by 4.2% during the fourth quarter. Cornerstone Advisors Inc. now owns 5,056 shares of the company’s stock valued at $301,000 after purchasing an additional 205 shares in the last quarter. Hedge funds and other institutional investors own 75.21% of the company’s stock.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.

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