Colgate-Palmolive (NYSE:CL) Sets New 12-Month High After Better-Than-Expected Earnings

Shares of Colgate-Palmolive (NYSE:CL) reached a new 52-week high during mid-day trading on Friday following a stronger than expected earnings report. The company traded as high as $99.70 and last traded at $99.17, with a volume of 735794 shares trading hands. The stock had previously closed at $96.49.

The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 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 $5.06 billion during the quarter, compared to the consensus estimate of $5 billion. During the same period in the previous year, the firm posted $0.77 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be paid a $0.50 dividend. The ex-dividend date is Friday, July 19th. This represents a $2.00 annualized dividend and a dividend yield of 2.02%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 63.29%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Evercore ISI raised their price target on Colgate-Palmolive from $100.00 to $106.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Stifel Nicolaus raised their target price on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the company a “buy” rating in a research note on Monday. Citigroup boosted their price target on shares of Colgate-Palmolive from $103.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Barclays raised their price objective on shares of Colgate-Palmolive from $85.00 to $91.00 and gave the company an “equal weight” rating in a research note on Friday, July 19th. Finally, Jefferies Financial Group cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their target price for the company from $103.00 to $95.00 in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $98.58.

Insider Buying and Selling at Colgate-Palmolive

In related news, insider John W. Kooyman sold 3,497 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total value of $326,864.59. Following the completion of the transaction, the insider now directly owns 3,181 shares of the company’s stock, valued at approximately $297,328.07. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider John W. Kooyman sold 3,497 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total transaction of $326,864.59. Following the completion of the transaction, the insider now directly owns 3,181 shares of the company’s stock, valued at approximately $297,328.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sally Massey sold 12,226 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the completion of the sale, the insider now directly owns 13,924 shares in the company, valued at approximately $1,309,691.44. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Institutional Trading of Colgate-Palmolive

A number of large investors have recently added to or reduced their stakes in CL. Union Savings Bank lifted its stake in Colgate-Palmolive by 76.6% in the 4th quarter. Union Savings Bank now owns 309 shares of the company’s stock valued at $25,000 after purchasing an additional 134 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in Colgate-Palmolive in the 2nd quarter valued at $25,000. Avion Wealth lifted its holdings in Colgate-Palmolive by 78.1% during the 4th quarter. Avion Wealth now owns 399 shares of the company’s stock valued at $32,000 after purchasing an additional 175 shares during the last quarter. Atlantic Edge Private Wealth Management LLC bought a new position in Colgate-Palmolive during the fourth quarter worth $32,000. Finally, PSI Advisors LLC increased its holdings in shares of Colgate-Palmolive by 4,971.4% in the first quarter. PSI Advisors LLC now owns 355 shares of the company’s stock valued at $32,000 after purchasing an additional 348 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

The company has a market capitalization of $81.34 billion, a P/E ratio of 30.97, a price-to-earnings-growth ratio of 3.49 and a beta of 0.39. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.06 and a quick ratio of 0.70. The company’s 50-day moving average price is $95.72 and its two-hundred day moving average price is $89.93.

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.