Colgate-Palmolive (NYSE:CL) Reaches New 1-Year High Following Better-Than-Expected Earnings

Colgate-Palmolive (NYSE:CL) reached a new 52-week high on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $92.25 and last traded at $90.36, with a volume of 1518931 shares changing hands. The stock had previously closed at $89.29.

The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.96 billion. Colgate-Palmolive had a net margin of 11.82% and a return on equity of 509.75%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the firm earned $0.73 earnings per share.

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 22nd will be issued a dividend of $0.50 per share. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Friday, April 19th. Colgate-Palmolive’s payout ratio is currently 71.94%.

Analyst Ratings Changes

Several brokerages recently issued reports on CL. JPMorgan Chase & Co. lifted their target price on Colgate-Palmolive from $88.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, January 18th. StockNews.com downgraded shares of Colgate-Palmolive from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Wells Fargo & Company boosted their price target on shares of Colgate-Palmolive from $80.00 to $88.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. UBS Group increased their price target on Colgate-Palmolive from $93.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, January 29th. Finally, Raymond James upgraded Colgate-Palmolive from a “market perform” rating to an “outperform” rating and set a $91.00 price objective for the company in a research note on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.50.

Insider Buying and Selling

In other Colgate-Palmolive news, insider Jennifer Daniels sold 61,633 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $83.93, for a total transaction of $5,172,857.69. Following the sale, the insider now owns 57,948 shares in the company, valued at $4,863,575.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Noel R. Wallace sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $83.15, for a total value of $4,157,500.00. Following the completion of the transaction, the chief executive officer now directly owns 274,179 shares in the company, valued at $22,797,983.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Daniels sold 61,633 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $83.93, for a total transaction of $5,172,857.69. Following the sale, the insider now directly owns 57,948 shares in the company, valued at approximately $4,863,575.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 232,371 shares of company stock valued at $19,505,099. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. OFI Invest Asset Management bought a new position in shares of Colgate-Palmolive in the third quarter worth approximately $25,000. Union Savings Bank increased its holdings in shares of Colgate-Palmolive by 76.6% in the 4th quarter. Union Savings Bank now owns 309 shares of the company’s stock worth $25,000 after buying an additional 134 shares during the last quarter. Avion Wealth raised its position in shares of Colgate-Palmolive by 78.1% during the 4th quarter. Avion Wealth now owns 399 shares of the company’s stock valued at $32,000 after buying an additional 175 shares in the last quarter. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Colgate-Palmolive during the 4th quarter worth $32,000. Finally, PSI Advisors LLC grew its position in Colgate-Palmolive by 4,971.4% in the first quarter. PSI Advisors LLC now owns 355 shares of the company’s stock worth $32,000 after acquiring an additional 348 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Up 1.9 %

The stock has a 50 day moving average of $87.66 and a 200 day moving average of $81.46. The company has a debt-to-equity ratio of 8.59, a current ratio of 1.11 and a quick ratio of 0.71. The firm has a market cap of $74.79 billion, a P/E ratio of 32.73, a PEG ratio of 3.34 and a beta of 0.42.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It 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.