Colgate-Palmolive (NYSE:CL) Price Target Raised to $80.00

Colgate-Palmolive (NYSE:CL) had its price objective hoisted by Barclays from $79.00 to $80.00 in a research report report published on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of Colgate-Palmolive in a research note on Monday. TD Cowen reaffirmed a “hold” rating and issued a $85.00 price target on shares of Colgate-Palmolive in a research note on Tuesday, March 31st. Wall Street Zen downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Sunday, March 29th. UBS Group lifted their price target on shares of Colgate-Palmolive from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Monday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Colgate-Palmolive from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Monday. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus price target of $95.88.

Colgate-Palmolive Price Performance

CL stock opened at $87.39 on Tuesday. The firm has a market cap of $70.11 billion, a price-to-earnings ratio of 34.00, a PEG ratio of 4.57 and a beta of 0.31. The company has a quick ratio of 0.29, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. Colgate-Palmolive has a 12-month low of $74.54 and a 12-month high of $99.33. The company’s fifty day simple moving average is $87.38 and its 200 day simple moving average is $84.34.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.03. The business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. Colgate-Palmolive’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 earnings per share. On average, analysts expect that Colgate-Palmolive will post 3.83 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 20th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, April 20th. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. Colgate-Palmolive’s payout ratio is presently 82.49%.

Insider Activity

In other news, insider John Hazlin sold 20,989 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $94.25, for a total transaction of $1,978,213.25. Following the completion of the sale, the insider directly owned 17,645 shares of the company’s stock, valued at $1,663,041.25. The trade was a 54.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Panagiotis Tsourapas sold 15,000 shares of the business’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $97.81, for a total transaction of $1,467,150.00. Following the sale, the chief operating officer directly owned 10,415 shares of the company’s stock, valued at approximately $1,018,691.15. The trade was a 59.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 70,989 shares of company stock valued at $6,756,713. 0.43% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Colgate-Palmolive

Several hedge funds and other institutional investors have recently made changes to their positions in CL. Kemnay Advisory Services Inc. bought a new stake in shares of Colgate-Palmolive during the fourth quarter worth about $25,000. CBIZ Investment Advisory Services LLC increased its position in shares of Colgate-Palmolive by 86.7% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock worth $26,000 after acquiring an additional 150 shares in the last quarter. TD Capital Management LLC grew its position in Colgate-Palmolive by 61.4% in the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after purchasing an additional 124 shares in the last quarter. Triumph Capital Management grew its position in Colgate-Palmolive by 62.9% in the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after purchasing an additional 127 shares in the last quarter. Finally, Jessup Wealth Management Inc bought a new stake in Colgate-Palmolive in the 4th quarter worth about $26,000. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.