Colgate-Palmolive (NYSE:CL) Price Target Raised to $105.00

Colgate-Palmolive (NYSE:CL) had its price objective lifted by Royal Bank Of Canada from $104.00 to $105.00 in a research report sent to investors on Monday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $101.00 target price (up from $99.00) on shares of Colgate-Palmolive in a report on Monday, August 3rd. Evercore raised their target price on Colgate-Palmolive from $100.00 to $101.00 and gave the company an “outperform” rating in a research report on Thursday, October 8th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $89.00 price target (up from $88.00) on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Bank of America boosted their price target on Colgate-Palmolive from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Wells Fargo & Company increased their price objective on Colgate-Palmolive from $90.00 to $95.00 and gave the company an “equal weight” rating in a research note on Monday. Thirteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Colgate-Palmolive has an average rating of “Moderate Buy” and an average price target of $101.22.

Colgate-Palmolive Stock Up 3.2%

CL stock opened at $98.65 on Monday. Colgate-Palmolive has a 52 week low of $75.96 and a 52 week high of $99.69. The company has a quick ratio of 0.30, a current ratio of 0.96 and a debt-to-equity ratio of 11.23. The firm has a 50-day simple moving average of $89.88 and a 200-day simple moving average of $89.85. The stock has a market capitalization of $78.42 billion, a P/E ratio of 24.64, a P/E/G ratio of 4.34 and a beta of 0.31.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, October 30th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Colgate-Palmolive had a net margin of 9.65% and a return on equity of 607.88%. The firm had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.34 billion. During the same period last year, the company posted $0.91 EPS. Colgate-Palmolive’s quarterly revenue was up 4.6% compared to the same quarter last year. Equities analysts forecast that Colgate-Palmolive will post 3.91 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

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

Insider Activity

In related news, COO Panagiotis Tsourapas sold 10,000 shares of the 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 transaction, the chief operating officer owned 64,901 shares of the company’s stock, valued at approximately $5,974,137.05. This represents a 13.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.43% of the stock is owned by company insiders.

Institutional Investors Weigh In On Colgate-Palmolive

Large investors have recently added to or reduced their stakes in the business. New York Life Investment Management LLC boosted its holdings in Colgate-Palmolive by 1.5% during the third quarter. New York Life Investment Management LLC now owns 138,465 shares of the company’s stock worth $11,814,000 after buying an additional 1,988 shares in the last quarter. 71 West Capital Partners increased its position in shares of Colgate-Palmolive by 34.8% in the third quarter. 71 West Capital Partners now owns 6,802 shares of the company’s stock valued at $580,000 after buying an additional 1,755 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc increased its holdings in Colgate-Palmolive by 19.8% during the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 863,616 shares of the company’s stock valued at $73,684,000 after acquiring an additional 142,723 shares in the last quarter. Gryphon Financial Partners LLC increased its stake in shares of Colgate-Palmolive by 6.0% during the 3rd quarter. Gryphon Financial Partners LLC now owns 2,847 shares of the company’s stock worth $243,000 after purchasing an additional 160 shares in the last quarter. Finally, AlphaCore Capital LLC increased its position in Colgate-Palmolive by 7.2% during the third quarter. AlphaCore Capital LLC now owns 29,136 shares of the company’s stock worth $2,486,000 after buying an additional 1,951 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive News Roundup

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

• Positive Sentiment: Investors have favored Colgate-Palmolive and other Dividend Kings amid political uncertainty, seeking dependable earnings and dividends. The company’s recent quarterly results also showed resilience: earnings and revenue exceeded consensus estimates, and revenue grew year over year. Article: Dividend Kings hitting 52-week highs
• Positive Sentiment: Several firms delivered supportive signals, including price-target increases from Wells Fargo and RBC, a bullish appreciation outlook from Morgan Stanley, and an Outperform reaffirmation from BNP Paribas Exane. Article: Wells Fargo raises price target Article: Morgan Stanley outlook Article: BNP Paribas Exane reaffirms Outperform Article: RBC raises price target
• Positive Sentiment: Commentary also highlights Colgate-Palmolive’s pricing power to help protect earnings and dividends from inflation, as well as improving execution and a potentially attractive valuation. Article: Dividend stocks with pricing power Article: Improving execution and valuation
• Neutral Sentiment: Barclays raised its target but maintained an Equal Weight/Hold stance, indicating limited conviction that the shares will outperform from current levels. Article: Barclays remains a Hold
• Negative Sentiment: JPMorgan lowered its expectations for CL’s share price, a counterpoint to the recent target increases. Article: JPMorgan lowers price expectations

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.