Colgate-Palmolive (NYSE:CL) Hits New 12-Month High Following Earnings Beat

Colgate-Palmolive (NYSE:CL - Get Free Report) shares reached a new 52-week high on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $92.25 and last traded at $90.36, with a volume of 1518931 shares trading hands. The stock had previously closed at $89.29.

The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. Colgate-Palmolive had a net margin of 11.82% and a return on equity of 509.75%. The firm had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.96 billion. During the same quarter in the prior year, the firm earned $0.73 EPS. Colgate-Palmolive's revenue for the quarter was up 6.2% on a year-over-year basis.

Colgate-Palmolive Increases Dividend

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

Analyst Ratings Changes

A number of brokerages have commented on CL. Citigroup upped their price objective on shares of Colgate-Palmolive from $95.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, April 16th. StockNews.com downgraded shares of Colgate-Palmolive from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 20th. Raymond James upgraded shares of Colgate-Palmolive from a "market perform" rating to an "outperform" rating and set a $91.00 price objective for the company in a research report on Monday, January 29th. Morgan Stanley upped their price objective on shares of Colgate-Palmolive from $85.00 to $93.00 and gave the stock an "overweight" rating in a research report on Monday, January 29th. Finally, UBS Group upped their price objective on shares of Colgate-Palmolive from $93.00 to $95.00 and gave the stock a "buy" rating in a research report on Monday, January 29th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, Colgate-Palmolive currently has an average rating of "Moderate Buy" and an average target price of $89.50.

Insider Activity at Colgate-Palmolive

In related news, Director C Martin Harris sold 2,760 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $84.50, for a total value of $233,220.00. Following the sale, the director now directly owns 19,272 shares of the company's stock, valued at approximately $1,628,484. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director C Martin Harris sold 2,760 shares of Colgate-Palmolive stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $84.50, for a total transaction of $233,220.00. Following the completion of the sale, the director now directly owns 19,272 shares in the company, valued at $1,628,484. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Gregory Malcolm sold 8,930 shares of Colgate-Palmolive stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $85.35, for a total transaction of $762,175.50. Following the sale, the executive vice president now owns 8,043 shares of the company's stock, valued at $686,470.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 232,371 shares of company stock valued at $19,505,099. Insiders own 0.34% of the company's stock.

Institutional Investors Weigh In On Colgate-Palmolive

Hedge funds and other institutional investors have recently modified their holdings of the company. OFI Invest Asset Management acquired a new stake in shares of Colgate-Palmolive in the third quarter worth approximately $25,000. Union Savings Bank lifted its position in Colgate-Palmolive by 76.6% during the fourth quarter. Union Savings Bank now owns 309 shares of the company's stock valued at $25,000 after buying an additional 134 shares in the last quarter. Avion Wealth lifted its position in Colgate-Palmolive by 78.1% during the fourth quarter. Avion Wealth now owns 399 shares of the company's stock valued at $32,000 after buying an additional 175 shares in the last quarter. Atlantic Edge Private Wealth Management LLC acquired a new position in Colgate-Palmolive during the fourth quarter valued at approximately $32,000. Finally, PSI Advisors LLC lifted its position in Colgate-Palmolive by 4,971.4% during the first quarter. PSI Advisors LLC now owns 355 shares of the company's stock valued at $32,000 after buying an additional 348 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Up 1.9 %

The stock has a market capitalization of $74.79 billion, a price-to-earnings ratio of 32.73, a PEG ratio of 3.34 and a beta of 0.42. The company has a debt-to-equity ratio of 8.59, a current ratio of 1.11 and a quick ratio of 0.71. The business's 50-day simple moving average is $87.66 and its two-hundred day simple moving average is $81.46.

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.