In yesterday’s Wall Street session, Colgate-Palmolive Co. (NYSE:CL) shares traded at $71.05, down -1.32% from the previous session.
As we calculate the median target price by taking the range between a high of $98.00 and a low of $68.00, we find $85.00. Given the previous closing price of $72.00, this indicates a potential upside of 18.06 percent. CL stock price is now -4.92% away from the 50-day moving average and -6.30% away from the 200-day moving average. The market capitalization of the company currently stands at $58.74B.
Brokers who have rated the stock have averaged $84.93 as their price target over the next twelve months.
With the price target of $84, HSBC Securities recently initiated with Buy rating for Colgate-Palmolive Co. (NYSE: CL).
In other news, Wallace Noel R., Chairman, President & CEO sold 48,627 shares of the company’s stock on Sep 11. The stock was sold for $3,567,982 at an average price of $73.37. Upon completion of the transaction, the Chairman, President & CEO now directly owns 246,969 shares in the company, valued at $17.55 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 11, CLO and Secretary Daniels Jennifer sold 24,704 shares of the business’s stock. A total of $1,811,016 was realized by selling the stock at an average price of $73.31. This leaves the insider owning 52,813 shares of the company worth $3.75 million. Insiders disposed of 352,743 shares of company stock worth roughly $25.06 million over the past 1 year. A total of 0.14% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CL stock. A new stake in Colgate-Palmolive Co. shares was purchased by UNISUPER MANAGEMENT PTY LTD during the first quarter worth $40,725,000. SCOPUS ASSET MANAGEMENT, L.P. invested $28,775,000 in shares of CL during the first quarter. In the first quarter, TWINBEECH CAPITAL LP acquired a new stake in Colgate-Palmolive Co. valued at approximately $17,585,000. CIDEL ASSET MANAGEMENT INC acquired a new stake in CL for approximately $16,840,000. ADAMS DIVERSIFIED EQUITY FUND, INC. purchased a new stake in CL valued at around $11,261,000 in the second quarter. In total, there are 2,232 active investors with 81.73% ownership of the company’s stock.
On Wednesday morning Colgate-Palmolive Co. (NYSE: CL) stock kicked off with the opening price of $71.93. During the past 12 months, Colgate-Palmolive Co. has had a low of $67.84 and a high of $82.09. According to the stock market information, the enterprise value for the company is $67.69B, which is based on a 39.62 price-to-earnings ratio, a 5.00 price-to-earnings-growth ratio, and a beta of 0.49. The fifty day moving average price for CL is $74.63 and a two-hundred day moving average price translates $75.79 for the stock.
The latest earnings results from Colgate-Palmolive Co. (NYSE: CL) was released for Jun, 2023. According to the Household & Personal Products Company, earnings per share came in at $0.73, beating analysts’ expectations of $0.7 by 0.03. This compares to $0.76 EPS in the same period last year. The net profit margin was 8.02% and return on equity was 2878.85% for CL. The company reported revenue of $4.82 billion for the quarter, compared to $4.48 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 7.54 percent. For the current quarter, analysts expect CL to generate $4.55B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/15/2023. Investors who held shares on 07/21/2023 were paid a $0.48 dividend. On an annualized basis, this represents a $1.96 dividend and a 2.76% percent yield. There was an ex-dividend date of 07/20/2023 for this dividend. In terms of dividend payout ratio, CL is presently at 87.41%.
Colgate-Palmolive Co.(CL) Company Profile
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company 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. This segment markets and sells its products under various brands, which include Colgate, Darlie, elmex, hello, meridol, Sorriso, Tom’s of Maine, Irish Spring, Palmolive, Protex, Sanex, Softsoap, Lady Speed Stick, Speed Stick, EltaMD, Filorga, PCA SKIN, Ajax, Axion, Fabuloso, Murphy, Suavitel, Soupline, and Cuddly to a range of traditional and eCommerce retailers, wholesalers, and distributors. It also includes pharmaceutical products for dentists and other oral health professionals. The Pet Nutrition segment offers pet nutrition products for everyday nutritional needs under the Hill’s Science Diet brand; and a range of therapeutic products to manage disease conditions in dogs and cats under the Hill’s Prescription Diet brand. This segment markets and sells its products through pet supply retailers, veterinarians, and eCommerce retailers. Colgate-Palmolive Company was founded in 1806 and is headquartered in New York, New York.
