Colgate-Palmolive (NYSE:CL) Rating Increased to Hold at Sanford C. Bernstein

Colgate-Palmolive (NYSE:CL) was upgraded by equities research analysts at Sanford C. Bernstein to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

CL has been the topic of several other research reports. TD Cowen reissued a “hold” rating and set a $85.00 target price on shares of Colgate-Palmolive in a research report on Tuesday, March 31st. Bank of America cut their target price on Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, April 10th. UBS Group raised their target price on Colgate-Palmolive from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Piper Sandler cut their target price on Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th. Finally, Weiss Ratings raised Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $95.88.

Colgate-Palmolive Price Performance

CL stock opened at $89.40 on Thursday. The business’s 50-day moving average is $86.85 and its two-hundred day moving average is $86.25. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67. The firm has a market capitalization of $71.54 billion, a P/E ratio of 34.79, a P/E/G ratio of 4.71 and a beta of 0.33. Colgate-Palmolive has a 1 year low of $74.54 and a 1 year high of $99.33.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 EPS. Analysts anticipate that Colgate-Palmolive will post 3.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CL. Vanguard Group Inc. boosted its position in shares of Colgate-Palmolive by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company’s stock worth $6,633,570,000 after purchasing an additional 1,026,985 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Colgate-Palmolive by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company’s stock valued at $1,754,657,000 after purchasing an additional 304,426 shares in the last quarter. Morgan Stanley lifted its stake in shares of Colgate-Palmolive by 1.7% in the fourth quarter. Morgan Stanley now owns 19,246,217 shares of the company’s stock valued at $1,520,836,000 after purchasing an additional 323,367 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Colgate-Palmolive by 172.5% in the first quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock valued at $1,067,211,000 after purchasing an additional 7,927,238 shares during the period. Finally, Norges Bank purchased a new stake in Colgate-Palmolive during the fourth quarter worth about $861,670,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

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.