Colgate-Palmolive (CL) Downgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Colgate-Palmolive (NYSE:CL) from a neutral rating to an underweight rating in a report published on Monday, Marketbeat.com reports. The brokerage currently has $54.00 target price on the stock, down from their prior target price of $61.00.

CL has been the subject of several other research reports. Argus reiterated a buy rating and set a $75.00 target price (up previously from $72.00) on shares of Colgate-Palmolive in a research note on Tuesday, September 18th. UBS Group upgraded shares of Colgate-Palmolive from a neutral rating to a buy rating and boosted their target price for the company from $70.00 to $75.00 in a research note on Wednesday, July 18th. Zacks Investment Research upgraded shares of Colgate-Palmolive from a sell rating to a hold rating in a research note on Tuesday, September 18th. Barclays set a $64.00 target price on shares of Colgate-Palmolive and gave the company a hold rating in a research note on Monday, July 30th. Finally, Wells Fargo & Co reiterated a hold rating and set a $64.00 target price on shares of Colgate-Palmolive in a research note on Friday, July 27th. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $68.06.

CL opened at $59.55 on Monday. The firm has a market capitalization of $51.67 billion, a P/E ratio of 20.75, a P/E/G ratio of 2.66 and a beta of 0.72. The company has a debt-to-equity ratio of 64.85, a quick ratio of 0.28 and a current ratio of 0.40. Colgate-Palmolive has a 12-month low of $57.41 and a 12-month high of $77.91.



Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, October 26th. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.72. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Colgate-Palmolive had a net margin of 13.55% and a return on equity of 12,004.60%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.73 earnings per share. As a group, equities research analysts anticipate that Colgate-Palmolive will post 2.96 EPS for the current fiscal year.

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

In other news, insider Mukul Deoras sold 11,334 shares of the company’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $65.10, for a total transaction of $737,843.40. Following the completion of the transaction, the insider now owns 32,625 shares in the company, valued at $2,123,887.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Henning I. Jakobsen sold 1,015 shares of the company’s stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $67.05, for a total transaction of $68,055.75. Following the transaction, the chief financial officer now owns 36,193 shares of the company’s stock, valued at approximately $2,426,740.65. The disclosure for this sale can be found here. In the last quarter, insiders have sold 169,585 shares of company stock valued at $11,132,140. 1.02% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Palisade Asset Management LLC lifted its holdings in Colgate-Palmolive by 0.6% in the third quarter. Palisade Asset Management LLC now owns 141,610 shares of the company’s stock worth $9,481,000 after purchasing an additional 795 shares during the period. DF Dent & Co. Inc. lifted its holdings in Colgate-Palmolive by 7.1% in the 2nd quarter. DF Dent & Co. Inc. now owns 12,125 shares of the company’s stock valued at $786,000 after acquiring an additional 800 shares during the last quarter. Hugh Johnson Advisors LLC lifted its holdings in Colgate-Palmolive by 8.0% in the 2nd quarter. Hugh Johnson Advisors LLC now owns 10,861 shares of the company’s stock valued at $704,000 after acquiring an additional 801 shares during the last quarter. West Oak Capital LLC lifted its holdings in Colgate-Palmolive by 3.2% in the 3rd quarter. West Oak Capital LLC now owns 27,049 shares of the company’s stock valued at $1,811,000 after acquiring an additional 830 shares during the last quarter. Finally, Heritage Way Advisors LLC lifted its holdings in Colgate-Palmolive by 2.8% in the 2nd quarter. Heritage Way Advisors LLC now owns 31,733 shares of the company’s stock valued at $2,057,000 after acquiring an additional 875 shares during the last quarter. Institutional investors and hedge funds own 75.17% of the company’s stock.

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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