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

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

Several other analysts have also recently issued reports on the stock. Deutsche Bank upped their target price on shares of Colgate-Palmolive from $74.00 to $76.00 and gave the company a hold rating in a research report on Friday, July 12th. Zacks Investment Research cut shares of Colgate-Palmolive from a buy rating to a hold rating and set a $77.00 target price on the stock. in a research report on Friday, June 7th. Macquarie upped their target price on shares of Colgate-Palmolive from $65.00 to $72.00 and gave the company a neutral rating in a research report on Monday, April 29th. Wells Fargo & Co upped their target price on shares of Colgate-Palmolive from $68.00 to $70.00 and gave the company a market perform rating in a research report on Monday, July 29th. Finally, Argus upped their target price on shares of Colgate-Palmolive from $72.00 to $82.00 and gave the company a buy rating in a research report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $73.13.

Shares of CL stock opened at $72.28 on Tuesday. The company’s fifty day simple moving average is $72.54 and its two-hundred day simple moving average is $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. The stock 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. Colgate-Palmolive has a 52 week low of $57.41 and a 52 week high of $76.41.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, July 26th. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.72. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.88 billion. Colgate-Palmolive had a net margin of 14.77% and a negative return on equity of 10,821.98%. The business’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.77 EPS. On average, analysts anticipate that Colgate-Palmolive will post 2.84 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors 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 was Wednesday, July 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 57.91%.

In related news, insider Ian M. Cook sold 175,616 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $72.65, for a total value of $12,758,502.40. Following the sale, the insider now directly owns 1,125,842 shares of the company’s stock, valued at approximately $81,792,421.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Philip G. Shotts sold 8,919 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $71.05, for a total transaction of $633,694.95. Following the completion of the sale, the vice president now directly owns 50,399 shares in the company, valued at $3,580,848.95. The disclosure for this sale can be found here. Insiders sold a total of 564,285 shares of company stock worth $40,530,290 over the last three months. 1.14% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of CL. Krane Funds Advisors LLC bought a new position in Colgate-Palmolive in the 2nd quarter worth about $25,000. Meridian Wealth Management LLC bought a new position in Colgate-Palmolive in the 1st quarter worth about $29,000. Lipe & Dalton bought a new position in Colgate-Palmolive in the 2nd quarter worth about $29,000. Enterprise Trust & Investment Co bought a new position in Colgate-Palmolive in the 2nd quarter worth about $36,000. Finally, Princeton Global Asset Management LLC bought a new position in Colgate-Palmolive in the 1st quarter worth about $43,000. 75.64% of the stock is currently owned by 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.

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Analyst Recommendations for Colgate-Palmolive (NYSE:CL)

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