Deutsche Bank Aktiengesellschaft Upgrades Colgate-Palmolive (NYSE:CL) to “Buy”

Deutsche Bank Aktiengesellschaft upgraded shares of Colgate-Palmolive (NYSE:CL) from a hold rating to a buy rating in a report issued on Monday morning, Price Targets.com reports. The brokerage currently has $86.00 target price on the stock, up from their previous target price of $84.00.

A number of other research firms have also weighed in on CL. UBS Group initiated coverage on shares of Colgate-Palmolive in a research note on Wednesday, June 23rd. They issued a buy rating and a $95.00 price objective on the stock. Evercore ISI reaffirmed a buy rating and set a $95.00 price objective on shares of Colgate-Palmolive in a report on Sunday, June 20th. Finally, Credit Suisse Group raised shares of Colgate-Palmolive from a neutral rating to an outperform rating and increased their price objective for the company from $80.00 to $95.00 in a report on Wednesday, June 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $85.69.

Shares of CL opened at $76.67 on Monday. The company has a 50 day moving average price of $79.07 and a 200-day moving average price of $80.26. Colgate-Palmolive has a fifty-two week low of $74.14 and a fifty-two week high of $86.41. The stock has a market capitalization of $64.67 billion, a PE ratio of 24.03, a PEG ratio of 3.98 and a beta of 0.60. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.70 and a current ratio of 1.11.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Thursday, July 29th. The company reported $0.80 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.80. The business had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Colgate-Palmolive had a net margin of 15.98% and a return on equity of 293.48%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the company posted $0.74 earnings per share. Equities research analysts forecast that Colgate-Palmolive will post 3.23 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 15th. Investors of record on Thursday, October 21st will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Wednesday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 58.82%.

In other news, Director Lorrie M. Norrington sold 1,898 shares of the business’s stock in a transaction that occurred on Wednesday, August 4th. The shares were sold at an average price of $78.02, for a total transaction of $148,081.96. Following the completion of the sale, the director now owns 24,602 shares in the company, valued at approximately $1,919,448.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Daniels sold 20,290 shares of the business’s stock in a transaction that occurred on Thursday, August 5th. The stock was sold at an average price of $79.11, for a total transaction of $1,605,141.90. The disclosure for this sale can be found here. Insiders sold 22,798 shares of company stock valued at $1,800,304 in the last 90 days. Company insiders own 0.32% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cowen Prime Advisors LLC purchased a new position in Colgate-Palmolive in the second quarter valued at approximately $28,000. Horan Securities Inc. lifted its stake in Colgate-Palmolive by 60.1% during the second quarter. Horan Securities Inc. now owns 341 shares of the company’s stock worth $28,000 after purchasing an additional 128 shares during the last quarter. Perennial Advisors LLC bought a new position in Colgate-Palmolive during the second quarter worth $28,000. Parisi Gray Wealth Management bought a new position in Colgate-Palmolive during the second quarter worth $30,000. Finally, Dark Forest Capital Management LP bought a new stake in Colgate-Palmolive in the second quarter valued at $30,000. 76.28% of the stock is currently owned by hedge funds and other institutional investors.

About Colgate-Palmolive

Colgate-Palmolive Co is engaged in the manufacturing and distribution of consumer products. It operates through Oral, Personal and Home Care and Pet Nutrition segments. The Oral, Personal and Home Care segment represents North America, Latin America, Europe, Asia Pacific, and Africa or Eurasia, all of which sell to a variety of retail and wholesale customers and distributors.

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Analyst Recommendations for Colgate-Palmolive (NYSE:CL)

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