Piper Jaffray Companies Begins Coverage on Colgate-Palmolive (NYSE:CL)

Piper Jaffray Companies started coverage on shares of Colgate-Palmolive (NYSE:CL) in a research report released on Tuesday, Stock Target Advisor reports. The firm issued an overweight rating on the stock.

A number of other equities analysts have also weighed in on CL. JPMorgan Chase & Co. upgraded shares of Colgate-Palmolive from an underweight rating to a neutral rating and boosted their price objective for the stock from $62.00 to $70.00 in a report on Monday, April 29th. Argus boosted their price objective on shares of Colgate-Palmolive from $72.00 to $82.00 and gave the stock a buy rating in a report on Tuesday, June 11th. Wells Fargo & Co boosted their price objective on shares of Colgate-Palmolive from $68.00 to $70.00 and gave the stock a market perform rating in a report on Monday, July 29th. Zacks Investment Research lowered shares of Colgate-Palmolive from a buy rating to a hold rating and set a $77.00 price objective for the company. in a report on Friday, June 7th. Finally, Morgan Stanley lifted their target price on shares of Colgate-Palmolive from $72.00 to $74.00 and gave the stock an equal weight rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $73.13.

Shares of NYSE CL opened at $72.28 on Tuesday. Colgate-Palmolive has a twelve month low of $57.41 and a twelve month high of $76.41. The firm has a market cap of $61.51 billion, a P/E ratio of 24.34, a PEG ratio of 4.61 and a beta of 0.76. The company has a 50 day moving average of $72.54 and a 200 day moving average of $69.91. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 32.25.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, July 26th. The company reported $0.72 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.72. Colgate-Palmolive had a net margin of 14.77% and a negative return on equity of 10,821.98%. The company had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.88 billion. During the same period in the previous year, the business earned $0.77 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. As a group, equities analysts expect that Colgate-Palmolive will post 2.84 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 18th were given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend was Wednesday, July 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 57.91%.

In other news, CFO Henning I. Jakobsen sold 33,854 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $73.45, for a total transaction of $2,486,576.30. Following the completion of the sale, the chief financial officer now owns 73,693 shares of the company’s stock, valued at approximately $5,412,750.85. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ian M. Cook sold 19,500 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $71.21, for a total transaction of $1,388,595.00. Following the sale, the insider now directly owns 1,107,742 shares of the company’s stock, valued at approximately $78,882,307.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 564,285 shares of company stock valued at $40,530,290. 1.14% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of the company. First Manhattan Co. grew its position in shares of Colgate-Palmolive by 0.5% during the 2nd quarter. First Manhattan Co. now owns 175,310 shares of the company’s stock valued at $12,564,000 after acquiring an additional 796 shares during the period. Eaton Vance Management grew its position in shares of Colgate-Palmolive by 4.7% during the 2nd quarter. Eaton Vance Management now owns 1,978,703 shares of the company’s stock valued at $141,772,000 after acquiring an additional 89,533 shares during the period. United Services Automobile Association grew its position in shares of Colgate-Palmolive by 8.0% during the 2nd quarter. United Services Automobile Association now owns 1,316,962 shares of the company’s stock valued at $94,387,000 after acquiring an additional 97,870 shares during the period. Summit Global Investments grew its position in shares of Colgate-Palmolive by 988.2% during the 2nd quarter. Summit Global Investments now owns 121,022 shares of the company’s stock valued at $8,674,000 after acquiring an additional 109,901 shares during the period. Finally, Frontier Wealth Management LLC grew its position in shares of Colgate-Palmolive by 0.9% during the 2nd quarter. Frontier Wealth Management LLC now owns 29,480 shares of the company’s stock valued at $2,113,000 after acquiring an additional 255 shares during the period. 75.64% of the stock is owned by hedge funds and other institutional investors.

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.

Further Reading: Catch-Up Contributions

Analyst Recommendations for Colgate-Palmolive (NYSE:CL)

Receive News & Ratings for Colgate-Palmolive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colgate-Palmolive and related companies with MarketBeat.com's FREE daily email newsletter.