Bank of America Upgrades Colgate-Palmolive Company to Buy

Brokerage firm Bank of America Upgrades its rating on Colgate-Palmolive Company(NYSE:CL). The shares have been rated Buy. Previously, the analysts had a Neutral rating on the shares. The rating by Bank of America was issued on Sep 12, 2016.

In a different note, KeyBanc said it Initiates Coverage on Colgate-Palmolive Company, according to a research note issued on Sep 9, 2016. The shares have been rated ‘Sector Weight’ by the firm. On Jul 29, 2016, Exane BNP Paribas said it Downgrades its rating on Colgate-Palmolive Company. The shares have been rated ‘Neutral’ by the firm. On Jul 29, 2016, Citigroup said it Maintains its rating on Colgate-Palmolive Company. In the research note, the firm Raises the price-target to $82.00 per share. The shares have been rated ‘Buy’ by the firm. On Jul 29, 2016, UBS said it Maintains its rating on Colgate-Palmolive Company. In the research note, the firm Raises the price-target to $76.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jul 20, 2016, Deutsche Bank said it Maintains its rating on Colgate-Palmolive Company. In the research note, the firm Raises the price-target to $73.00 per share. The shares have been rated ‘Hold’ by the firm.

Colgate-Palmolive Company (CL) made into the market gainers list on Tuesdays trading session with the shares advancing 0.40% or 0.29 points. Due to strong positive momentum, the stock ended at $72.48, which is also near the day’s high of $72.9. The stock began the session at $72.66 and the volume stood at 24,38,173 shares. The 52-week high of the shares is $75.38 and the 52 week low is $61.4. The company has a current market capitalization of $64,615 M and it has 89,14,93,130 shares in outstanding.

Colgate-Palmolive Company has also declared a cash dividend of $0.3900 on Sep 8, 2016. The shares will quote ex-dividend on Oct 20, 2016 and the record date has been fixed on Oct 24, 2016. The dividend payable date has been fixed on Nov 15, 2016.

Colgate-Palmolive Company(CL) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $3.85B. Analysts had an estimated revenue of $3.86B. Earnings per share were $0.70. Analysts had estimated an EPS of $0.69.

Several Insider Transactions has been reported to the SEC. On Aug 17, 2016, Patricia Verduin (Chief Technology Officer) sold 3,674 shares at $75.00 per share price.Also, On Aug 15, 2016, Franck J Moison (COO Emerging Mkts.& So. Pacif.) sold 15,000 shares at $75.16 per share price.On Aug 12, 2016, Richard J Kogan (director) sold 8,000 shares at $74.66 per share price, according to the Form-4 filing with the securities and exchange commission.

Colgate-Palmolive Company (Colgate) is a consumer products company whose products are marketed in more than 200 countries and territories throughout the world. The Company operates in two product segments: Oral Personal and Home Care and Pet Nutrition. The Oral Personal and Home Care product segment is operated through five geographic segments: North America Latin America Europe/South Pacific Asia and Africa/Eurasia. The Company’s oral care products include Colgate Total; Colgate Sensitive Pro-Relief; Colgate Max Fresh; Colgate Optic White and Colgate Luminous White toothpastes among others. The Company sells its personal care products under the Palmolive Protex and Softsoap brands. The Company through its Hill’s Pet Nutrition segment (Hill’s) manufactures pet nutrition products for dogs and cats.

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