Colgate-Palmolive (NYSE:CL) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Colgate-Palmolive (NYSE:CL) had its target price increased by investment analysts at Wells Fargo & Company from $90.00 to $95.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential downside of 0.37% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Royal Bank Of Canada restated an “outperform” rating and issued a $104.00 price target on shares of Colgate-Palmolive in a research note on Tuesday, September 8th. Barclays increased their target price on Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. Sanford C. Bernstein restated a “market perform” rating on shares of Colgate-Palmolive in a report on Thursday, August 13th. TD Cowen lifted their price target on Colgate-Palmolive from $85.00 to $90.00 and gave the stock a “hold” rating in a research report on Monday, August 3rd. Finally, Piper Sandler dropped their price target on shares of Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, September 21st. Thirteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $99.44.

Colgate-Palmolive Stock Up 0.1%

Shares of Colgate-Palmolive stock opened at $95.35 on Monday. Colgate-Palmolive has a 1 year low of $74.54 and a 1 year high of $99.33. The firm has a market cap of $76.01 billion, a price-to-earnings ratio of 37.39, a PEG ratio of 4.59 and a beta of 0.31. The company has a 50-day moving average of $89.54 and a 200 day moving average of $89.65. The company has a debt-to-equity ratio of 13.82, a current ratio of 0.46 and a quick ratio of 0.30.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, October 30th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.93 by $0.04. The business had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.34 billion. Colgate-Palmolive had a net margin of 9.65% and a return on equity of 607.88%. Colgate-Palmolive’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 earnings per share. As a group, sell-side analysts anticipate that Colgate-Palmolive will post 3.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Colgate-Palmolive

In other news, COO Panagiotis Tsourapas sold 10,000 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $92.05, for a total value of $920,500.00. Following the transaction, the chief operating officer owned 64,901 shares in the company, valued at $5,974,137.05. This represents a 13.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Noel R. Wallace sold 161,021 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the completion of the transaction, the chief executive officer directly owned 362,231 shares in the company, valued at approximately $33,296,273.52. The trade was a 30.77% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 175,191 shares of company stock worth $16,110,903 in the last three months. 0.43% of the stock is currently owned by company insiders.

Institutional Trading of Colgate-Palmolive

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CL. State Street Corp boosted its stake in shares of Colgate-Palmolive by 97.4% during the 2nd quarter. State Street Corp now owns 94,195,992 shares of the company’s stock worth $8,635,889,000 after acquiring an additional 46,476,510 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Colgate-Palmolive by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,532,417 shares of the company’s stock valued at $1,240,652,000 after acquiring an additional 1,010,872 shares during the period. First Eagle Investment Management LLC increased its stake in shares of Colgate-Palmolive by 1.1% in the 2nd quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company’s stock worth $752,298,000 after purchasing an additional 88,917 shares in the last quarter. Amundi increased its stake in shares of Colgate-Palmolive by 19.9% in the 2nd quarter. Amundi now owns 6,218,257 shares of the company’s stock worth $570,090,000 after purchasing an additional 1,033,918 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in Colgate-Palmolive in the 2nd quarter worth $567,483,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

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.