Colgate-Palmolive (NYSE:CL) Price Target Raised to $100.00

Colgate-Palmolive (NYSE:CL) had its target price lifted by Evercore ISI from $94.00 to $100.00 in a research note published on Monday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

A number of other brokerages have also recently weighed in on CL. Morgan Stanley lifted their price objective on Colgate-Palmolive from $87.00 to $100.00 and gave the company an “overweight” rating in a research note on Monday. Jefferies Financial Group set a $85.00 price target on shares of Colgate-Palmolive in a research note on Tuesday, December 16th. JPMorgan Chase & Co. raised their price objective on shares of Colgate-Palmolive from $88.00 to $93.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Royal Bank Of Canada raised shares of Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 target price on the stock in a research note on Tuesday, December 9th. Finally, Argus reissued a “hold” rating on shares of Colgate-Palmolive in a research report on Thursday, December 11th. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average target price of $94.47.

Colgate-Palmolive Trading Up 1.2%

NYSE CL opened at $94.29 on Monday. The company has a debt-to-equity ratio of 5.90, a current ratio of 0.42 and a quick ratio of 0.27. The stock has a market capitalization of $76.00 billion, a P/E ratio of 35.99, a PEG ratio of 4.22 and a beta of 0.29. The firm’s 50-day moving average is $81.56 and its two-hundred day moving average is $81.50. Colgate-Palmolive has a 12 month low of $74.54 and a 12 month high of $100.18.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, January 30th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The business had revenue of $5.23 billion during the quarter, compared to analysts’ expectations of $5.13 billion. During the same period last year, the business earned $0.91 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, sell-side analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Wednesday, January 21st will be paid a $0.52 dividend. The ex-dividend date is Wednesday, January 21st. This represents a $2.08 dividend on an annualized basis and a yield of 2.2%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 79.39%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CL. Brighton Jones LLC increased its stake in Colgate-Palmolive by 4.4% in the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after purchasing an additional 450 shares during the last quarter. Woodline Partners LP lifted its position in shares of Colgate-Palmolive by 76.3% during the 1st quarter. Woodline Partners LP now owns 46,361 shares of the company’s stock worth $4,344,000 after buying an additional 20,062 shares during the last quarter. Ameritas Advisory Services LLC boosted its holdings in shares of Colgate-Palmolive by 22.9% in the 2nd quarter. Ameritas Advisory Services LLC now owns 3,059 shares of the company’s stock valued at $278,000 after buying an additional 570 shares in the last quarter. Simplicity Wealth LLC grew its position in shares of Colgate-Palmolive by 102.7% in the 2nd quarter. Simplicity Wealth LLC now owns 30,534 shares of the company’s stock valued at $2,775,000 after buying an additional 15,470 shares during the last quarter. Finally, Grimes & Company Inc. raised its stake in Colgate-Palmolive by 1.0% during the 2nd quarter. Grimes & Company Inc. now owns 12,495 shares of the company’s stock worth $1,136,000 after acquiring an additional 118 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

About Colgate-Palmolive

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.