Colgate-Palmolive (CL) Now Covered by Analysts at Evercore ISI
Evercore ISI began coverage on shares of Colgate-Palmolive (NYSE:CL) in a research report sent to investors on Thursday, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $70.00 price objective on the stock.
Several other research firms have also recently weighed in on CL. Goldman Sachs Group upgraded Colgate-Palmolive from a neutral rating to a buy rating in a research report on Tuesday. Zacks Investment Research cut Colgate-Palmolive from a hold rating to a sell rating in a research report on Friday, October 5th. Morgan Stanley decreased their target price on Colgate-Palmolive from $65.00 to $60.00 and set a hold rating on the stock in a research report on Tuesday, October 30th. JPMorgan Chase & Co. cut Colgate-Palmolive from a neutral rating to an underweight rating and decreased their target price for the company from $61.00 to $54.00 in a research report on Monday, October 29th. Finally, Wells Fargo & Co decreased their target price on Colgate-Palmolive from $64.00 to $62.00 and set a market perform rating on the stock in a research report on Wednesday, October 17th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. Colgate-Palmolive currently has a consensus rating of Hold and a consensus price target of $67.87.
NYSE:CL traded up $0.28 during trading hours on Thursday, reaching $62.10. 2,616,362 shares of the stock were exchanged, compared to its average volume of 4,859,508. Colgate-Palmolive has a twelve month low of $57.41 and a twelve month high of $77.91. The company has a market cap of $53.17 billion, a P/E ratio of 21.64, a price-to-earnings-growth ratio of 2.94 and a beta of 0.75.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Wednesday, January 23rd will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, January 22nd. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.71%. Colgate-Palmolive’s dividend payout ratio is presently 58.54%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Voya Investment Management LLC lifted its holdings in Colgate-Palmolive by 6.2% during the 2nd quarter. Voya Investment Management LLC now owns 478,798 shares of the company’s stock worth $31,031,000 after purchasing an additional 27,892 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in Colgate-Palmolive by 176.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 45,158 shares of the company’s stock worth $2,927,000 after purchasing an additional 28,839 shares in the last quarter. Sterling Capital Management LLC increased its stake in Colgate-Palmolive by 32.1% in the 2nd quarter. Sterling Capital Management LLC now owns 22,705 shares of the company’s stock worth $1,472,000 after acquiring an additional 5,511 shares during the last quarter. Macquarie Group Ltd. increased its stake in Colgate-Palmolive by 203.2% in the 2nd quarter. Macquarie Group Ltd. now owns 34,569 shares of the company’s stock worth $2,241,000 after acquiring an additional 23,169 shares during the last quarter. Finally, Paloma Partners Management Co increased its stake in Colgate-Palmolive by 87.0% in the 2nd quarter. Paloma Partners Management Co now owns 51,721 shares of the company’s stock worth $3,352,000 after acquiring an additional 24,068 shares during the last quarter. 74.54% of the stock is currently owned by hedge funds and other institutional investors.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
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