Colgate-Palmolive (NYSE:CL) Hits New 1-Year High on Analyst Upgrade

Colgate-Palmolive Company (NYSE:CL)’s share price reached a new 52-week high during trading on Wednesday after Barclays raised their price target on the stock from $87.00 to $95.00. Barclays currently has an equal weight rating on the stock. Colgate-Palmolive traded as high as $99.49 and last traded at $99.1810, with a volume of 1,773,883 shares. The stock had previously closed at $95.62.

Several other analysts have also issued reports on the company. Jefferies Financial Group reiterated a “hold” rating and set a $89.00 target price (up from $88.00) on shares of Colgate-Palmolive in a report on Monday, August 3rd. JPMorgan Chase & Co. lowered their price target on Colgate-Palmolive from $104.00 to $102.00 and set an “overweight” rating on the stock in a research report on Monday. TD Cowen upped their price objective on Colgate-Palmolive from $90.00 to $97.00 and gave the stock a “hold” rating in a research note on Monday. Citigroup increased their price objective on Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Finally, Evercore raised their target price on shares of Colgate-Palmolive from $100.00 to $101.00 and gave the company an “outperform” rating in a research note on Thursday, October 8th. Thirteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $101.22.

Insider Activity

In related news, COO Panagiotis Tsourapas sold 10,000 shares of Colgate-Palmolive stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $92.05, for a total transaction of $920,500.00. Following the completion of the transaction, the chief operating officer owned 64,901 shares in the company, valued at approximately $5,974,137.05. This trade represents a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Cahill sold 4,170 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total value of $389,352.90. Following the transaction, the director directly owned 28,373 shares in the company, valued at approximately $2,649,187.01. This trade represents a 12.81% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.43% of the company’s stock.

Key Stories Impacting Colgate-Palmolive

Here are the key news stories impacting Colgate-Palmolive this week:

• Positive Sentiment: Wells Fargo raised its price target for Colgate-Palmolive, adding to the recent run of more optimistic analyst views. The article did not specify the new target. Colgate-Palmolive Stock Gets Price Target Increase from Wells Fargo
• Positive Sentiment: Morgan Stanley raised its target from $104 to $111 and maintained an Overweight rating, implying meaningful potential appreciation from the price cited in the report. Morgan Stanley Forecasts Strong Price Appreciation for Colgate-Palmolive
• Positive Sentiment: Royal Bank of Canada lifted its target to $105 from $104 and kept Outperform; BNP Paribas Exane raised its target to $108 from $97 and reaffirmed Outperform. RBC Raises Colgate-Palmolive Price Target BNP Paribas Exane Reaffirms Outperform
• Positive Sentiment: A bullish Seeking Alpha analysis points to improving execution and a valuation discount. Another valuation review edged its fair-value estimate higher following Colgate’s quarterly earnings beat. Colgate-Palmolive: Improving Execution and a Valuation Discount Colgate-Palmolive Fair Value Edges Higher After Q3 Earnings Beat
• Neutral Sentiment: Barclays raised its target from $87 to $95 but retained Equal Weight, leaving its target below the roughly $98 share price referenced in the coverage. Barclays Remains a Hold on Colgate-Palmolive
• Negative Sentiment: JPMorgan cut its price target from $104 to $102, although it maintained an Overweight rating. The lower target is a modest counterpoint to the other increases. JPMorgan Lowers Colgate-Palmolive Price Target

Institutional Investors Weigh In On Colgate-Palmolive

A number of large investors have recently added to or reduced their stakes in CL. M Holdings Securities Inc. bought a new position in shares of Colgate-Palmolive in the third quarter valued at about $995,000. Brighton Jones LLC boosted its holdings in shares of Colgate-Palmolive by 4.8% during the 3rd quarter. Brighton Jones LLC now owns 14,676 shares of the company’s stock worth $1,252,000 after buying an additional 674 shares during the period. Ethic Inc. boosted its holdings in shares of Colgate-Palmolive by 2.3% during the 3rd quarter. Ethic Inc. now owns 148,846 shares of the company’s stock worth $12,700,000 after buying an additional 3,316 shares during the period. United Advisor Group LLC grew its stake in Colgate-Palmolive by 16.4% in the 3rd quarter. United Advisor Group LLC now owns 3,397 shares of the company’s stock valued at $290,000 after buying an additional 478 shares during the last quarter. Finally, Plancorp LLC grew its stake in Colgate-Palmolive by 7.3% in the 3rd quarter. Plancorp LLC now owns 7,088 shares of the company’s stock valued at $605,000 after buying an additional 481 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

The company’s fifty day simple moving average is $89.73 and its two-hundred day simple moving average is $89.77. The company has a debt-to-equity ratio of 11.23, a quick ratio of 0.30 and a current ratio of 0.96. The stock has a market capitalization of $79.19 billion, a P/E ratio of 39.04, a PEG ratio of 4.55 and a beta of 0.31.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, October 30th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Colgate-Palmolive had a return on equity of 607.88% and a net margin of 9.65%. The company had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.34 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis. As a group, equities analysts forecast that Colgate-Palmolive Company will post 3.91 EPS for the current year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 20th will be paid a $0.53 dividend. The ex-dividend date is Tuesday, October 20th. This represents a $2.12 annualized dividend and a yield of 2.1%. Colgate-Palmolive’s payout ratio is 83.14%.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company (NYSE: CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwash, liquid hand soap, body wash, deodorants, household cleaning products and pet food and treats.

The company markets well-known brands such as Colgate, Palmolive, elmex, meridol, Softsoap, Irish Spring, Ajax, Protex and Hill’s Science Diet. Colgate-Palmolive also provides veterinary and nutritional products through Hill’s Pet Nutrition, which serves pet owners and animal health professionals.

Founded in 1806 by William Colgate, the company developed from a soap and candle business into a diversified consumer goods manufacturer.