Published: Fri, May 19, 2017
Economy | By Annette Adams

Colgate-Palmolive Is Rising After CEO Suggests He's Open To A Sale

Colgate-Palmolive Is Rising After CEO Suggests He's Open To A Sale

Colgate-Palmolive Company (NYSE:CL) last announced its earnings results on Friday, April 28th. The shares rose 3.4% to just over US$74, but chief executive officer Ian Cook would be US$100 a share, according to reports, which would value the company at a wallet-busting US$88bn. Dumont Blake Inv Advsrs Limited has 0.1% invested in Colgate-Palmolive Company (NYSE:CL).

Analysts await Colgate-Palmolive Company (NYSE:CL) to report earnings on July, 27. During the same period in the previous year, the business posted $0.63 earnings per share. The firm's quarterly revenue was up.0% on a year-over-year basis. If you are viewing this report on another domain, it was illegally stolen and reposted in violation of United States & worldwide copyright & trademark legislation. Nonetheless, from here on out, earnings per share forecasts for the current quarter are $0.72. UBS maintained the shares of CL in report on Friday, April 29 with "Neutral" rating.

09/08/2016 - KeyBanc began new coverage on Colgate-Palmolive Company giving the company a "sector weight" rating. They are projecting Next Quarter growth of 1.4%. Stifel Nicolaus lowered their price objective on Colgate-Palmolive Company from $75.00 to $70.00 and set a "hold" rating on the stock in a research note on Monday, January 30th. Zacks Investment Research raised Colgate-Palmolive Company from a "sell" rating to a "hold" rating in a report on Friday, March 24th. BNP Paribas upgraded Colgate-Palmolive Company from a "neutral" rating to an "outperform" rating in a research note on Tuesday, February 21st. Northstar Group Inc. raised its position in Colgate-Palmolive Company by 0.4% in the first quarter. They set a "neutral" rating and a $77.00 price target for the company.

Some buy side analysts are also providing their Analysis on Colgate-Palmolive Co., where 1 analysts have rated the stock as Strong buy, 1 analysts have given a Buy signal, 19 said it's a HOLD, 0 reported it as Underperform and 0 analysts rated the stock as Sell.

Shares of Colgate-Palmolive Company (NYSE:CL) have climbed in the previous month. Daniels Jennifer had sold 7,072 shares worth $472,296. The stock has a 50-day moving average price of $72.90 and a 200 day moving average price of $69.74. The company has market cap of $66.79 billion.

ILLEGAL ACTIVITY NOTICE: "Colgate-Palmolive Company (CL) Stake Cut by Courier Capital LLC" was reported by The Cerbat Gem and is the property of of The Cerbat Gem. Traders bought 24,552 call options on the company. In contrast, the average volume was 3.91 million shares.

Several hedge funds have recently made changes to their positions in CL. Smith Moore reported 0.26% in Colgate-Palmolive Company (NYSE:CL). Northwest Investment Counselors LLC boosted its stake in Colgate-Palmolive Company by 0.4% in the first quarter. At the time of writing, Shares the company recently traded 17.18% away 52-week low and noted price movement -3.81% away from the 52-week high level. TIAA CREF Investment Management LLC increased its position in Colgate-Palmolive Company by 84.2% in the first quarter. Alpha Windward LLC raised its position in Colgate-Palmolive Company by 0.6% in the first quarter. Institutional investors own 73.24% of the company's stock. Moreover, the stock is down -0.62% in one month through last close, to $22.57, showing a -7.90% return during the past three months. The share price is trading in a range of $73.33 - 76.86.

"We as a company ... build value for our share owners and all the constituents in our company", Cook responded. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The stock was sold at an average price of $73.97, for a total value of $1,035,580.00. The disclosure for this sale can be found here. They expect $0.72 EPS, up 2.86% or $0.02 from last year's $0.7 per share. The Company manufactures and markets a range of products for the home care market, including Palmolive and Ajax dishwashing liquids, Fabuloso and Ajax household cleaners and Murphy's Oil Soap. Shareholders of record on Friday, April 21st will be given a dividend of 0.40 per share on Monday, May 15th. Oenon Holdings, Inc. (TSE:2533) presently has a 10 month price index of 1.31188. The firm earned "Hold" rating on Wednesday, April 19 by Jefferies. Colgate-Palmolive Company's revenue was up.0% on a year-over-year basis.

Fellow consumer products giant Unilever Unilever plc (ADR) (NYSE:UL) is rumored to be perhaps the most likely suitor for Colgate at this point.

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