Wells Fargo & Co reissued their hold rating on shares of Colgate-Palmolive (NYSE:CL) in a research report released on Monday morning, AnalystRatings.com reports. The brokerage currently has a $68.00 price objective on the stock, up from their previous price objective of $65.00.
“We are raising our price target by $3 to $68 to reflect CL’s fundamental progress to date, but maintain our Market Perform rating largely on valuation.”,” the firm’s analyst wrote.
CL has been the topic of several other research reports. Credit Suisse Group started coverage on shares of Colgate-Palmolive in a research note on Wednesday, March 6th. They set an underperform rating on the stock. Zacks Investment Research downgraded shares of Colgate-Palmolive from a buy rating to a sell rating in a research note on Monday, April 15th. Citigroup set a $68.00 price objective on shares of Colgate-Palmolive and gave the company a hold rating in a research note on Tuesday, March 19th. Morgan Stanley upped their price objective on shares of Colgate-Palmolive from $62.00 to $68.00 and gave the company an equal weight rating in a research note on Monday, April 29th. Finally, Macquarie increased their price target on shares of Colgate-Palmolive from $65.00 to $72.00 and gave the stock a neutral rating in a research note on Monday, April 29th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $70.87.
Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, April 26th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.01. The business had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.86 billion. Colgate-Palmolive had a net margin of 15.08% and a negative return on equity of 3,730.37%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 earnings per share. On average, equities analysts predict that Colgate-Palmolive will post 2.84 EPS for the current year.
In other news, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John J. Huston sold 473 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $72.93, for a total transaction of $34,495.89. Following the completion of the sale, the senior vice president now directly owns 59,668 shares of the company’s stock, valued at approximately $4,351,587.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 358,684 shares of company stock worth $25,467,491. 1.14% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Capital Financial Planning LLC acquired a new stake in Colgate-Palmolive during the 4th quarter valued at $27,000. Parisi Gray Wealth Management grew its holdings in Colgate-Palmolive by 365.3% during the 4th quarter. Parisi Gray Wealth Management now owns 470 shares of the company’s stock valued at $28,000 after purchasing an additional 369 shares in the last quarter. Meridian Wealth Management LLC acquired a new stake in Colgate-Palmolive during the 1st quarter valued at $29,000. Portfolio Solutions LLC acquired a new stake in Colgate-Palmolive during the 4th quarter valued at $30,000. Finally, WP Advisors LLC acquired a new stake in Colgate-Palmolive during the 1st quarter valued at $34,000. 75.60% of the stock is 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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