Published On: Thu, Sep 8th, 2016

Colgate-Palmolive Co. (CL) Research Coverage Started at KeyCorp

Research analysts at KeyCorp began coverage on shares of Colgate-Palmolive Co. (NYSE:CL) in a research note issued on Thursday.
Other equities analysts have also recently issued reports about the stock. Exane BNP Paribas cut shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating in a research note on Friday, July 29th. Deutsche Bank AG reissued a “hold” rating and issued a $75.00 price objective (up from $73.00) on shares of Colgate-Palmolive in a research note on Sunday, July 24th. Citigroup Inc. boosted their price objective on shares of Colgate-Palmolive from $82.00 to $88.00 and gave the company a “buy” rating in a research note on Friday, July 29th. BNP Paribas lowered shares of Colgate-Palmolive from an “outperform” rating to a “neutral” rating and set a $76.00 target price on the stock. in a research report on Friday, July 29th. Finally, Goldman Sachs Group Inc. restated a “neutral” rating and set a $76.00 target price (up from $74.00) on shares of Colgate-Palmolive in a research report on Friday, July 15th. Fourteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $74.04.
Colgate-Palmolive (NYSE:CL) traded down 1.04% during trading on Thursday, reaching $72.99. 3,775,017 shares of the company’s stock traded hands. Colgate-Palmolive has a one year low of $61.31 and a one year high of $75.38. The firm’s 50 day moving average price is $74.46 and its 200-day moving average price is $71.72. The stock has a market cap of $65.07 billion, a P/E ratio of 47.00 and a beta of 0.59.

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Colgate-Palmolive (NYSE:CL) last announced its earnings results on Thursday, July 28th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The business earned $3.85 billion during the quarter, compared to analyst estimates of $3.86 billion. The business’s revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.70 earnings per share. On average, equities analysts anticipate that Colgate-Palmolive will post $2.79 earnings per share for the current fiscal year.
In related news, SVP John J. Huston sold 14,000 shares of the stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $74.93, for a total transaction of $1,049,020.00. Following the completion of the sale, the senior vice president now owns 102,761 shares of the company’s stock, valued at approximately $7,699,881.73. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Franck J. Moison sold 15,000 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $75.16, for a total transaction of $1,127,400.00. Following the sale, the chief operating officer now directly owns 188,029 shares of the company’s stock, valued at approximately $14,132,259.64. The disclosure for this sale can be found here. Insiders own 1.05% of the company’s stock.
A number of hedge funds have bought and sold shares of the company. Wellington Management Group LLP increased its stake in Colgate-Palmolive by 22.2% in the first quarter. Wellington Management Group LLP now owns 41,060,286 shares of the company’s stock worth $2,900,908,000 after buying an additional 7,453,260 shares during the period. Norges Bank acquired a new stake in Colgate-Palmolive during the fourth quarter worth about $384,218,000. Alecta Pensionsforsakring Omsesidigt acquired a new stake in Colgate-Palmolive during the first quarter worth about $343,359,000. Bank of Montreal Can acquired a new stake in Colgate-Palmolive during the second quarter worth about $64,888,000. Finally, State Street Corp increased its stake in Colgate-Palmolive by 1.2% in the first quarter. State Street Corp now owns 62,333,093 shares of the company’s stock worth $4,403,835,000 after buying an additional 742,556 shares during the period. 73.37% of the stock is owned by hedge funds and other institutional investors.
About Colgate-Palmolive
Colgate-Palmolive Company (Colgate) is a consumer products company, whose products are marketed in over 200 countries and territories throughout the world. The Company’s segments include Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through over five geographic segments, which include North America, Latin America, Europe/South Pacific, Asia and Africa/Eurasia.

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