Colgate-Palmolive Company (NYSE:CL) released its earnings results on Friday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.72, Bloomberg Earnings reports. Colgate-Palmolive had a net margin of 15.83% and a return on equity of 3,121.95%. The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the previous year, the firm earned $0.70 earnings per share. Colgate-Palmolive’s revenue was down .5% compared to the same quarter last year.
Colgate-Palmolive (CL) opened at 71.30 on Friday. Colgate-Palmolive has a 52-week low of $63.43 and a 52-week high of $77.27. The stock’s 50 day moving average is $72.38 and its 200-day moving average is $72.86. The firm has a market capitalization of $62.80 billion, a PE ratio of 26.50 and a beta of 0.80. Colgate-Palmolive also was the recipient of unusually large options trading on Tuesday. Stock investors bought 12,928 put options on the stock. This is an increase of 560% compared to the typical volume of 1,959 put options.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, July 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, July 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.24%. Colgate-Palmolive’s payout ratio is currently 59.48%.
In other Colgate-Palmolive news, SVP John J. Huston sold 14,000 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $71.36, for a total transaction of $999,040.00. Following the completion of the transaction, the senior vice president now directly owns 88,598 shares in the company, valued at $6,322,353.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Patricia Verduin sold 3,833 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $71.45, for a total value of $273,867.85. Following the transaction, the insider now owns 53,173 shares of the company’s stock, valued at $3,799,210.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 221,802 shares of company stock valued at $15,983,976. 1.02% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Colgate-Palmolive by 2.4% in the second quarter. Vanguard Group Inc. now owns 67,875,384 shares of the company’s stock worth $5,031,602,000 after buying an additional 1,621,392 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Colgate-Palmolive by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 18,821,363 shares of the company’s stock worth $1,377,537,000 after buying an additional 169,798 shares during the period. Renaissance Technologies LLC raised its stake in shares of Colgate-Palmolive by 42.4% in the second quarter. Renaissance Technologies LLC now owns 9,753,400 shares of the company’s stock worth $723,020,000 after buying an additional 2,903,800 shares during the last quarter. Norges Bank purchased a new stake in shares of Colgate-Palmolive during the fourth quarter worth approximately $455,526,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Colgate-Palmolive by 25.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 6,854,323 shares of the company’s stock worth $508,111,000 after buying an additional 1,385,946 shares during the last quarter. Institutional investors own 73.69% of the company’s stock.
A number of research firms recently issued reports on CL. Zacks Investment Research downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Jefferies Group LLC restated a “hold” rating and issued a $79.00 target price (up from $77.00) on shares of Colgate-Palmolive in a report on Monday, July 24th. Deutsche Bank AG restated a “hold” rating and issued a $75.00 target price on shares of Colgate-Palmolive in a report on Monday, July 24th. Wells Fargo & Company restated a “market perform” rating on shares of Colgate-Palmolive in a report on Monday, July 24th. Finally, BidaskClub downgraded shares of Colgate-Palmolive from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $75.82.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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