Colgate-Palmolive (NYSE:CL) Hits New 1-Year High at $93.24

Colgate-Palmolive (NYSE:CL)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $93.24 and last traded at $93.16, with a volume of 4201086 shares changing hands. The stock had previously closed at $91.90.

Analyst Ratings Changes

Several research firms have weighed in on CL. Barclays raised their price target on Colgate-Palmolive from $84.00 to $85.00 and gave the company an “equal weight” rating in a report on Tuesday. StockNews.com downgraded Colgate-Palmolive from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. Bank of America increased their target price on shares of Colgate-Palmolive from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday. Citigroup boosted their price objective on shares of Colgate-Palmolive from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, JPMorgan Chase & Co. boosted their price target on Colgate-Palmolive from $88.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, January 18th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $91.44.

Colgate-Palmolive Price Performance

The stock has a market cap of $76.23 billion, a price-to-earnings ratio of 29.40, a PEG ratio of 3.39 and a beta of 0.40. The company’s 50 day moving average is $88.08 and its 200 day moving average is $81.99. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.06 and a quick ratio of 0.28.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, April 26th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The company had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same quarter last year, the firm posted $0.73 earnings per share. Colgate-Palmolive’s revenue was up 6.2% on a year-over-year basis. Research analysts forecast that Colgate-Palmolive will post 3.52 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 22nd will be paid a $0.50 dividend. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.00 annualized dividend and a dividend yield of 2.15%. Colgate-Palmolive’s dividend payout ratio is presently 63.29%.

Insider Activity

In other Colgate-Palmolive news, insider Jennifer Daniels sold 5,790 shares of Colgate-Palmolive stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $83.96, for a total transaction of $486,128.40. Following the transaction, the insider now owns 63,236 shares of the company’s stock, valued at approximately $5,309,294.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Noel R. Wallace sold 29,772 shares of Colgate-Palmolive stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $84.06, for a total value of $2,502,634.32. Following the completion of the transaction, the chief executive officer now owns 301,343 shares in the company, valued at $25,330,892.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Daniels sold 5,790 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $83.96, for a total value of $486,128.40. Following the completion of the transaction, the insider now owns 63,236 shares in the company, valued at $5,309,294.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 159,048 shares of company stock worth $13,336,846. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of Colgate-Palmolive

Several institutional investors and hedge funds have recently bought and sold shares of the business. Financial Counselors Inc. boosted its stake in shares of Colgate-Palmolive by 3.5% in the first quarter. Financial Counselors Inc. now owns 19,348 shares of the company’s stock valued at $1,742,000 after buying an additional 646 shares during the period. Mutual of America Capital Management LLC increased its position in Colgate-Palmolive by 15.8% during the 1st quarter. Mutual of America Capital Management LLC now owns 127,798 shares of the company’s stock valued at $11,508,000 after purchasing an additional 17,457 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Colgate-Palmolive by 8.7% during the 1st quarter. Daiwa Securities Group Inc. now owns 84,231 shares of the company’s stock worth $7,585,000 after buying an additional 6,742 shares during the period. Quent Capital LLC raised its holdings in Colgate-Palmolive by 13.5% during the first quarter. Quent Capital LLC now owns 3,568 shares of the company’s stock worth $321,000 after buying an additional 425 shares during the last quarter. Finally, Hendley & Co. Inc. lifted its stake in Colgate-Palmolive by 21.9% during the 1st quarter. Hendley & Co. Inc. now owns 5,060 shares of the company’s stock valued at $456,000 after acquiring an additional 909 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.