Colgate-Palmolive (NYSE:CL) Hits New 1-Year Low - Here's Why

Key Points

• Colgate-Palmolive's stock hit a new 52-week low at $81.60, closing at $82.10 with a trading volume of over 6.6 million shares.
• Multiple brokerages have downgraded their price targets for Colgate-Palmolive, with UBS setting a new target at $106.00 and Barclays raising theirs to $87.00.
• The company recently announced a quarterly dividend of $0.52 per share, reflecting an annual yield of 2.5% and a payout ratio of 58.43%.

Colgate-Palmolive Company (NYSE:CL - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $81.60 and last traded at $82.10, with a volume of 6605310 shares traded. The stock had previously closed at $83.28.

Analysts Set New Price Targets

A number of brokerages have issued reports on CL. UBS Group cut their target price on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Citigroup cut their target price on shares of Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a report on Monday, August 4th. JPMorgan Chase & Co. cut their target price on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Wells Fargo & Company cut their target price on shares of Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a report on Monday, August 4th. Finally, Barclays lifted their price target on Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.00.

Colgate-Palmolive Stock Performance

The stock has a market cap of $66.35 billion, a P/E ratio of 23.06, a PEG ratio of 4.33 and a beta of 0.35. The company has a fifty day moving average of $85.72 and a 200 day moving average of $89.47. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its earnings results on Friday, August 1st. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.89 by $0.03. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The firm had revenue of $5.11 billion for the quarter, compared to analysts' expectations of $5.03 billion. During the same quarter in the previous year, the company earned $0.91 earnings per share. The firm's quarterly revenue was up 1.0% compared to the same quarter last year. On average, equities analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, October 17th. This represents a $2.08 annualized dividend and a yield of 2.5%. Colgate-Palmolive's payout ratio is presently 58.43%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CL. Brighton Jones LLC grew its position in Colgate-Palmolive by 4.4% in the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company's stock worth $962,000 after buying an additional 450 shares during the last quarter. Bernard Wealth Management Corp. purchased a new position in Colgate-Palmolive during the 4th quarter worth approximately $36,000. Silvercrest Asset Management Group LLC grew its position in Colgate-Palmolive by 1.8% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 55,818 shares of the company's stock worth $5,074,000 after purchasing an additional 984 shares in the last quarter. State of Wyoming grew its position in Colgate-Palmolive by 75.2% during the 4th quarter. State of Wyoming now owns 3,261 shares of the company's stock worth $296,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Two Sigma Advisers LP grew its position in Colgate-Palmolive by 283.2% during the 4th quarter. Two Sigma Advisers LP now owns 170,900 shares of the company's stock worth $15,537,000 after purchasing an additional 126,300 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company's stock.

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.

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