Colgate-Palmolive (NYSE:CL) Receives New Coverage from Analysts at Raymond James

Raymond James initiated coverage on shares of Colgate-Palmolive (NYSE:CLGet Rating) in a research note released on Thursday, The Fly reports. The firm issued a market perform rating on the stock.

Other analysts have also issued research reports about the stock. StockNews.com raised shares of Colgate-Palmolive from a hold rating to a buy rating in a report on Tuesday, April 5th. Redburn Partners started coverage on shares of Colgate-Palmolive in a research report on Thursday, December 16th. They set a neutral rating for the company. Credit Suisse Group dropped their price target on shares of Colgate-Palmolive from $95.00 to $90.00 and set an outperform rating for the company in a research report on Monday, January 31st. TheStreet downgraded Colgate-Palmolive from a b- rating to a c+ rating in a report on Friday, March 25th. Finally, Barclays cut their price target on Colgate-Palmolive from $90.00 to $81.00 and set an equal weight rating on the stock in a research note on Friday, April 1st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Colgate-Palmolive has an average rating of Hold and an average price target of $86.21.

Shares of Colgate-Palmolive stock opened at $80.25 on Thursday. Colgate-Palmolive has a fifty-two week low of $72.20 and a fifty-two week high of $85.61. The company’s 50 day moving average price is $77.28 and its two-hundred day moving average price is $78.56. The firm has a market capitalization of $67.46 billion, a P/E ratio of 31.35, a P/E/G ratio of 3.89 and a beta of 0.62. The company has a debt-to-equity ratio of 7.41, a current ratio of 1.09 and a quick ratio of 0.67.

Colgate-Palmolive (NYSE:CLGet Rating) last posted its earnings results on Friday, January 28th. The company reported $0.79 EPS for the quarter, hitting the consensus estimate of $0.79. Colgate-Palmolive had a net margin of 12.43% and a return on equity of 308.71%. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same period in the previous year, the firm posted $0.77 earnings per share. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, analysts expect that Colgate-Palmolive will post 3.29 earnings per share for the current year.

Colgate-Palmolive announced that its board has initiated a stock repurchase program on Thursday, March 10th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to purchase up to 8.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 13th. Investors of record on Thursday, April 21st will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.34%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Wednesday, April 20th. Colgate-Palmolive’s payout ratio is presently 70.31%.

In other Colgate-Palmolive news, Director John T. Cahill sold 5,389 shares of the stock in a transaction on Thursday, February 3rd. The shares were sold at an average price of $83.16, for a total transaction of $448,149.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Patricia Verduin sold 51,194 shares of the stock in a transaction on Wednesday, February 2nd. The stock was sold at an average price of $82.39, for a total transaction of $4,217,873.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 127,080 shares of company stock valued at $10,443,094. 0.32% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the business. Horan Securities Inc. bought a new stake in Colgate-Palmolive in the 4th quarter valued at about $30,000. Benjamin Edwards Inc. bought a new stake in Colgate-Palmolive in the 3rd quarter valued at about $29,000. TAP Consulting LLC bought a new stake in Colgate-Palmolive in the 4th quarter valued at about $40,000. US Asset Management LLC bought a new stake in Colgate-Palmolive in the 3rd quarter valued at about $36,000. Finally, Widmann Financial Services Inc. bought a new stake in Colgate-Palmolive in the 4th quarter valued at about $42,000. 77.15% of the stock is currently owned by institutional investors.

About Colgate-Palmolive (Get Rating)

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. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.

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