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

Colgate-Palmolive (NYSE:CL) had its price target boosted by Bank of America from $90.00 to $100.00 in a report released on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also issued reports on CL. Wells Fargo & Company boosted their price target on Colgate-Palmolive from $86.00 to $94.00 and gave the company an “equal weight” rating in a research note on Sunday. Morgan Stanley lifted their price objective on Colgate-Palmolive from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Monday. Argus restated a “hold” rating on shares of Colgate-Palmolive in a research note on Thursday, December 11th. Raymond James Financial decreased their price target on shares of Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, October 20th. Finally, Royal Bank Of Canada upgraded shares of Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 price objective for the company in a research note on Tuesday, December 9th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $94.47.

Colgate-Palmolive Price Performance

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. Colgate-Palmolive has a one year low of $74.54 and a one year high of $100.18. The company has a fifty day moving average price of $81.56 and a 200 day moving average price of $81.50. The stock has a market cap of $76.00 billion, a P/E ratio of 35.99, a PEG ratio of 4.22 and a beta of 0.29.

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

Colgate-Palmolive Announces Dividend

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

Institutional Trading of Colgate-Palmolive

Several hedge funds have recently modified their holdings of the company. Norges Bank acquired a new position in shares of Colgate-Palmolive during the second quarter valued at $960,390,000. Schroder Investment Management Group raised its holdings in Colgate-Palmolive by 242.3% during the 2nd quarter. Schroder Investment Management Group now owns 5,324,115 shares of the company’s stock worth $483,962,000 after purchasing an additional 3,768,784 shares during the last quarter. Pacer Advisors Inc. lifted its position in Colgate-Palmolive by 3,052.2% during the 3rd quarter. Pacer Advisors Inc. now owns 2,697,047 shares of the company’s stock valued at $215,602,000 after purchasing an additional 2,611,485 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in shares of Colgate-Palmolive by 46.7% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company’s stock valued at $645,719,000 after purchasing an additional 2,572,796 shares during the last quarter. Finally, Amundi grew its position in shares of Colgate-Palmolive by 41.6% during the 3rd quarter. Amundi now owns 6,294,445 shares of the company’s stock worth $487,505,000 after buying an additional 1,850,412 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

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.