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

Colgate-Palmolive (NYSE:CL) shares hit a new 52-week high on Friday following a stronger than expected earnings report. The company traded as high as $92.25 and last traded at $90.36, with a volume of 1518931 shares changing hands. The stock had previously closed at $89.29.

The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. Colgate-Palmolive had a net margin of 11.82% and a return on equity of 509.75%. The business had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.96 billion. During the same period last year, the business posted $0.73 EPS. Colgate-Palmolive’s revenue was up 6.2% compared to the same quarter last year.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 22nd will be paid a dividend of $0.50 per share. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, April 19th. This represents a $2.00 annualized dividend and a yield of 2.20%. Colgate-Palmolive’s dividend payout ratio is presently 71.94%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Morgan Stanley upped their price target on Colgate-Palmolive from $85.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, January 29th. JPMorgan Chase & Co. boosted their price objective on shares of Colgate-Palmolive from $88.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, January 18th. Wells Fargo & Company upped their price objective on shares of Colgate-Palmolive from $80.00 to $88.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. TheStreet raised Colgate-Palmolive from a “c+” rating to a “b+” rating in a research report on Friday, January 26th. Finally, Barclays upped their price target on Colgate-Palmolive from $82.00 to $84.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.50.

Insiders Place Their Bets

In other news, insider Jennifer Daniels sold 61,633 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $83.93, for a total transaction of $5,172,857.69. Following the transaction, the insider now owns 57,948 shares of the company’s stock, valued at $4,863,575.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Colgate-Palmolive news, EVP Gregory Malcolm sold 8,930 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $85.35, for a total value of $762,175.50. Following the completion of the sale, the executive vice president now owns 8,043 shares of the company’s stock, valued at $686,470.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Daniels sold 61,633 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $83.93, for a total value of $5,172,857.69. Following the sale, the insider now directly owns 57,948 shares in the company, valued at approximately $4,863,575.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 232,371 shares of company stock valued at $19,505,099. 0.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Colgate-Palmolive

Several institutional investors have recently modified their holdings of the business. SlateStone Wealth LLC raised its position in Colgate-Palmolive by 252.7% in the 1st quarter. SlateStone Wealth LLC now owns 10,422 shares of the company’s stock valued at $939,000 after buying an additional 7,467 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. acquired a new position in Colgate-Palmolive during the first quarter worth $205,000. Mesirow Financial Investment Management Inc. acquired a new position in Colgate-Palmolive during the first quarter worth $4,090,000. MONECO Advisors LLC raised its position in Colgate-Palmolive by 5.9% during the first quarter. MONECO Advisors LLC now owns 5,946 shares of the company’s stock worth $535,000 after acquiring an additional 331 shares in the last quarter. Finally, Checchi Capital Advisers LLC lifted its stake in Colgate-Palmolive by 1.5% in the first quarter. Checchi Capital Advisers LLC now owns 7,829 shares of the company’s stock valued at $705,000 after acquiring an additional 118 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Trading Up 1.9 %

The company has a market cap of $74.79 billion, a P/E ratio of 32.73, a P/E/G ratio of 3.34 and a beta of 0.42. The business’s 50-day moving average price is $87.66 and its 200 day moving average price is $81.46. The company has a debt-to-equity ratio of 8.59, a quick ratio of 0.71 and a current ratio of 1.11.

About Colgate-Palmolive

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.