Colgate-Palmolive (CL) Upgraded by Zacks Investment Research to Buy
Colgate-Palmolive (NYSE:CL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday, Zacks.com reports. The firm presently has a $73.00 price target on the stock. Zacks Investment Research‘s price objective points to a potential upside of 4.14% from the stock’s current price.
According to Zacks, “Colgate surpassed the industry year to date owing to a robust surprise trend, which continued in first-quarter 2019. This marked the second straight quarter of sales beat and third positive earnings surprise of the last five quarters. Robust volumes and favorable pricing aided organic sales growth in the quarter. In 2019, the company expects benefits of pricing and productivity programs to considerably offset rise in raw material costs. Accelerated investments in brands, strong innovation, and expansion in new markets and channels, is likely to aid sales in 2019. However, the company is plagued with a soft margins and currency headwinds for a while now. Increased raw material and packaging costs as well as higher SG&A expenses are likely to hurt margins throughout 2019. Further, adverse currency should mar earnings and sales in 2019.”
Several other research analysts also recently issued reports on the stock. ValuEngine upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Morgan Stanley upped their price target on shares of Colgate-Palmolive from $62.00 to $68.00 and gave the stock an “equal weight” rating in a report on Monday, April 29th. Macquarie upped their price target on shares of Colgate-Palmolive from $65.00 to $72.00 and gave the stock a “neutral” rating in a report on Monday, April 29th. JPMorgan Chase & Co. upgraded shares of Colgate-Palmolive from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $62.00 to $70.00 in a report on Monday, April 29th. Finally, Jefferies Financial Group upped their price target on shares of Colgate-Palmolive from $61.00 to $73.00 and gave the stock an “in-line” rating in a report on Monday, April 29th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $69.07.
Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, April 26th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.01. Colgate-Palmolive had a negative return on equity of 3,730.37% and a net margin of 15.08%. The firm had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.86 billion. During the same period in the prior year, the company earned $0.74 earnings per share. The company’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, sell-side analysts expect that Colgate-Palmolive will post 2.84 earnings per share for the current year.
In related news, VP Philip G. Shotts sold 8,800 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $71.66, for a total value of $630,608.00. Following the completion of the sale, the vice president now directly owns 50,032 shares in the company, valued at $3,585,293.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Justin Skala sold 92,643 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $70.78, for a total value of $6,557,271.54. Following the completion of the sale, the vice president now owns 163,653 shares of the company’s stock, valued at $11,583,359.34. The disclosure for this sale can be found here. Insiders sold 354,711 shares of company stock valued at $25,087,935 over the last 90 days. 1.14% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tiemann Investment Advisors LLC lifted its stake in shares of Colgate-Palmolive by 2.4% in the 1st quarter. Tiemann Investment Advisors LLC now owns 6,455 shares of the company’s stock valued at $442,000 after purchasing an additional 150 shares during the period. Lynch & Associates IN increased its holdings in Colgate-Palmolive by 0.6% in the 1st quarter. Lynch & Associates IN now owns 28,930 shares of the company’s stock worth $1,983,000 after acquiring an additional 160 shares in the last quarter. First National Bank of Omaha grew its holdings in shares of Colgate-Palmolive by 1.2% during the first quarter. First National Bank of Omaha now owns 13,499 shares of the company’s stock worth $925,000 after buying an additional 160 shares in the last quarter. Griffin Asset Management Inc. grew its holdings in shares of Colgate-Palmolive by 0.8% during the first quarter. Griffin Asset Management Inc. now owns 20,357 shares of the company’s stock worth $1,395,000 after buying an additional 164 shares in the last quarter. Finally, Balasa Dinverno & Foltz LLC grew its holdings in shares of Colgate-Palmolive by 4.7% during the first quarter. Balasa Dinverno & Foltz LLC now owns 3,666 shares of the company’s stock worth $251,000 after buying an additional 164 shares in the last quarter. Institutional investors and hedge funds own 75.65% of the company’s stock.
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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