SunTrust Banks Downgrades Colgate-Palmolive (CL) to Hold

SunTrust Banks cut shares of Colgate-Palmolive (NYSE:CL) from a buy rating to a hold rating in a research note published on Friday, MarketBeat Ratings reports.

Several other equities analysts have also weighed in on the company. UBS Group set a $71.00 target price on Colgate-Palmolive and gave the company a buy rating in a report on Wednesday, October 17th. Wells Fargo & Co cut their target price on Colgate-Palmolive from $64.00 to $62.00 and set a market perform rating on the stock in a report on Wednesday, October 17th. Zacks Investment Research lowered Colgate-Palmolive from a hold rating to a sell rating in a report on Friday, October 5th. Atlantic Securities began coverage on Colgate-Palmolive in a report on Thursday, September 20th. They set a neutral rating and a $71.00 target price on the stock. Finally, Argus restated a buy rating and set a $75.00 target price (up from $72.00) on shares of Colgate-Palmolive in a report on Tuesday, September 18th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $70.79.

Shares of NYSE:CL opened at $59.58 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.40 and a debt-to-equity ratio of 64.85. Colgate-Palmolive has a 1 year low of $59.26 and a 1 year high of $77.91. The firm has a market cap of $51.70 billion, a P/E ratio of 20.76, a PEG ratio of 2.73 and a beta of 0.72.



Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, October 26th. The company reported $0.72 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.72. Colgate-Palmolive had a return on equity of 12,004.60% and a net margin of 13.55%. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same period last year, the company earned $0.73 earnings per share. Colgate-Palmolive’s quarterly revenue was down 3.2% compared to the same quarter last year. Analysts anticipate that Colgate-Palmolive will post 2.99 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Friday, October 19th will be paid a $0.42 dividend. The ex-dividend date is Thursday, October 18th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.82%. Colgate-Palmolive’s payout ratio is presently 58.54%.

In other news, CFO Henning I. Jakobsen sold 1,015 shares of Colgate-Palmolive stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $67.05, for a total value of $68,055.75. Following the transaction, the chief financial officer now directly owns 36,193 shares in the company, valued at $2,426,740.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Justin Skala sold 90,069 shares of Colgate-Palmolive stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $66.36, for a total value of $5,976,978.84. Following the sale, the vice president now directly owns 65,061 shares in the company, valued at $4,317,447.96. The disclosure for this sale can be found here. Insiders sold 395,779 shares of company stock worth $26,108,856 over the last quarter. 1.02% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in CL. Rainier Group Investment Advisory LLC acquired a new stake in Colgate-Palmolive during the first quarter worth about $107,000. CSat Investment Advisory L.P. acquired a new stake in Colgate-Palmolive during the second quarter worth about $111,000. Bridgeworth LLC acquired a new stake in Colgate-Palmolive during the second quarter worth about $120,000. Fort L.P. acquired a new stake in Colgate-Palmolive during the second quarter worth about $123,000. Finally, O Brien Wealth Partners LLC acquired a new stake in Colgate-Palmolive during the third quarter worth about $123,000. 75.17% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid 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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Analyst Recommendations for Colgate-Palmolive (NYSE:CL)

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