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Colgate-Palmolive (NYSE: CL) had its target price reduced by Stifel Nicolaus stock researchers starting at $ 75.00 Stifel Nicolaus' target price suggests an upside potential of 11.84% over the previous closing of the stock
. A number of other brokerages have also published reports on CL.ValuEngine lowered Colgate-Palmolive from a note of "hold" to a "sale" note in a research report on Wednesday 2 May 2009. Argus raised Colgate-Palmolive On May 25, Sanford C. Bernstein confirmed the "buy" rating in a research report and set a target price of $ 72.00 on Colgate-Palmolive shares. Research report on Thursday, May 24, Wells Farg o & Co lowered Colgate-Palmolive to a "hold" rating in a research report on Tuesday, July 17th. Finally, Zacks Investment Research upgraded Colgate-Palmolive from a "sell" rating to a "hold" in a research report on Tuesday, April 17th. Four research badysts rated the stock with a sales rating, ten issued a security rating and four issued a buy-to-action rating. Colgate-Palmolive currently has an average rating of "Hold" and an average target price of $ 74.85.
Colgate-Palmolive opened Monday at $ 65.27, reports MarketBeat. The company has a debt ratio of 64.85, a ratio of 0.75 and a ratio of 1.08. Colgate-Palmolive has a 12-month low of $ 61.28 and a 12-month high of $ 77.91. The stock has a market capitalization of 57.53 billion, a price / earnings ratio of 22.75, a price / earnings ratio of 2.75 and a beta of 0.75.
Colgate-Palmolive (NYSE: CL) last published its quarterly earnings data on Friday, April 27. The company reported earnings per share of $ 0.74 for the quarter, surpbading the consensus estimate of $ 0.73 per $ 0.01. Colgate-Palmolive posted a return on equity of 1,486.69% and a net margin of 13.30%. The company achieved a business turnover of $ 4 billion for the quarter, against badysts forecast of $ 4.01 billion. During the same period last year, the company posted earnings of $ 0.67 per share. The business turnover of the company grew by 6.4% compared to the same quarter of last year. Equity research badysts expect Colgate-Palmolive to display EPS 3.09 for the current fiscal year.
Colgate-Palmolive announced that its board of directors authorized a stock repurchase plan on Monday, June 18 that allows the company to repurchase $ 5.00 billion in shares. This repurchase authorization allows the company to repurchase up to 9% of its shares by means of purchases on the open market. Stock repurchase plans are usually an indication that the company's executives believe that its shares are undervalued.
In addition, the director, Helene D. Gayle, sold 7,000 shares of the company in connection with a transaction dated Thursday, May 10. The stock was sold at an average price of $ 62.23, for a total value of $ 435,610.00. As a result of the sale, the director now holds directly 35,395 shares of the company, valued at $ 2,202,630.85. The sale has been disclosed in a deposit with the SEC, which can be accessed via this link. In addition, Daniel B. Marsili, an insider, sold 19,500 shares of the company in a transaction dated Tuesday, May 15. The shares were sold at an average price of $ 61.69, for a total value of $ 1,202,955.00. The disclosure for this sale can be found here. Over the past three months, insiders have sold 161,579 shares valued at $ 10,089,283. 1.02% of the shares are held by insiders.
A number of institutional investors have recently changed their position in CL. HC Financial Advisors Inc. purchased a new stake in Colgate-Palmolive in the fourth quarter, valued at approximately $ 1,744,000. Silver Trust Co increased its stake in Colgate-Palmolive by 72.4% in the fourth quarter. Silver Trust Co now holds 8,599 shares of the Company valued at $ 648,000 after acquiring 3,612 additional shares during the period. Cambridge Investment Research Advisors Inc. increased its ownership in Colgate-Palmolive by 15.7% in the fourth quarter. Cambridge Investment Research Advisors Inc. now holds 81,249 shares of the Company valued at $ 6,130,000 after acquiring an additional 11,036 shares during the period. Global X Management Co. LLC increased its stake in Colgate-Palmolive by 7.2% in the first quarter. Global X Management Co. LLC now holds 12,371 shares of the Company valued at $ 887,000 after acquiring 829 additional shares during the period. Finally, Wells Fargo & Company MN strengthened its Colgate-Palmolive stake by 11.3% in the first quarter. Wells Fargo & Company MN now holds 9,886,686 shares of the Company valued at $ 708,678,000 after acquiring 1,003,612 additional shares during the period. 73.13% of the shares are held by hedge funds and other institutional investors.
About Colgate-Palmolive
Colgate-Palmolive Company, with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, oral, personal and home; and animal nutrition. The company offers oral care products, including toothpastes, toothbrushes and mouthwashes, as well as pharmaceuticals for dentists and other oral health professionals ; personal care products including liquid hand and 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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