Bank of America Raises Colgate-Palmolive (NYSE:CL) Price Target to $100.00

Colgate-Palmolive (NYSE:CL) had its price objective upped by Bank of America from $90.00 to $100.00 in a report issued on Monday, Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also issued reports about the company. The Goldman Sachs Group initiated coverage on Colgate-Palmolive in a research note on Friday, March 1st. They set a buy rating and a $93.00 price target on the stock. UBS Group boosted their target price on shares of Colgate-Palmolive from $93.00 to $95.00 and gave the stock a buy rating in a report on Monday, January 29th. Citigroup raised their price target on shares of Colgate-Palmolive from $95.00 to $100.00 and gave the company a buy rating in a research note on Tuesday, April 16th. Evercore ISI boosted their price objective on shares of Colgate-Palmolive from $90.00 to $96.00 and gave the stock an outperform rating in a research note on Monday, April 8th. Finally, Barclays raised their target price on Colgate-Palmolive from $82.00 to $84.00 and gave the stock an equal weight rating in a research report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Colgate-Palmolive currently has a consensus rating of Moderate Buy and an average price target of $91.44.

Colgate-Palmolive Stock Down 0.0 %

NYSE CL opened at $91.90 on Monday. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.06 and a quick ratio of 0.28. Colgate-Palmolive has a fifty-two week low of $67.62 and a fifty-two week high of $92.54. The stock has a market capitalization of $75.40 billion, a PE ratio of 29.08, a PEG ratio of 3.37 and a beta of 0.42. The business has a fifty day moving average price of $88.08 and a two-hundred day moving average price of $81.99.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, April 26th. 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 13.22% and a return on equity of 485.40%. The business 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. The firm’s revenue was up 6.2% compared to the same quarter last year. Equities analysts expect that Colgate-Palmolive will post 3.52 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 22nd will be paid a dividend of $0.50 per share. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Friday, April 19th. Colgate-Palmolive’s dividend payout ratio is 63.29%.

Insider Buying and Selling at Colgate-Palmolive

In related news, insider Jennifer Daniels sold 3,538 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $84.67, for a total value of $299,562.46. Following the transaction, the insider now directly owns 59,698 shares in the company, valued at approximately $5,054,629.66. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Jennifer Daniels sold 3,538 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $84.67, for a total value of $299,562.46. Following the sale, the insider now owns 59,698 shares in the company, valued at approximately $5,054,629.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Noel R. Wallace sold 69,948 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $84.22, for a total value of $5,891,020.56. Following the completion of the sale, the chief executive officer now directly owns 286,881 shares of the company’s stock, valued at $24,161,117.82. The disclosure for this sale can be found here. Over the last quarter, insiders sold 159,048 shares of company stock valued at $13,336,846. Company insiders own 0.37% of the company’s stock.

Hedge Funds Weigh In On Colgate-Palmolive

A number of hedge funds have recently bought and sold shares of CL. Norges Bank purchased a new stake in shares of Colgate-Palmolive in the fourth quarter valued at about $731,843,000. Price T Rowe Associates Inc. MD increased its stake in Colgate-Palmolive by 16.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,133,218 shares of the company’s stock valued at $2,561,340,000 after buying an additional 4,625,472 shares during the last quarter. Magellan Asset Management Ltd lifted its position in shares of Colgate-Palmolive by 4,162.6% during the 4th quarter. Magellan Asset Management Ltd now owns 2,016,290 shares of the company’s stock worth $160,718,000 after buying an additional 1,968,988 shares in the last quarter. Confluence Investment Management LLC purchased a new position in shares of Colgate-Palmolive in the 1st quarter worth approximately $130,622,000. Finally, FMR LLC grew its holdings in shares of Colgate-Palmolive by 27.3% in the third quarter. FMR LLC now owns 5,597,742 shares of the company’s stock valued at $398,055,000 after acquiring an additional 1,199,660 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

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.