Colgate-Palmolive (NYSE:CL) Price Target Raised to $92.00

Colgate-Palmolive (NYSE:CL) had its price objective upped by Wells Fargo & Company from $90.00 to $92.00 in a research note published on Monday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Bank of America upped their price objective on shares of Colgate-Palmolive from $90.00 to $100.00 and gave the stock a buy rating in a report on Monday. Citigroup raised their price target on shares of Colgate-Palmolive from $95.00 to $100.00 and gave the stock a buy rating in a report on Tuesday, April 16th. StockNews.com downgraded shares of Colgate-Palmolive from a strong-buy rating to a buy rating in a research note on Tuesday, February 20th. UBS Group lifted their price objective on Colgate-Palmolive from $93.00 to $95.00 and gave the company a buy rating in a research report on Monday, January 29th. Finally, TheStreet raised Colgate-Palmolive from a c+ rating to a b+ rating in a research note on Friday, January 26th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $91.44.

Colgate-Palmolive Stock Down 0.0 %

NYSE CL opened at $91.90 on Monday. The business has a 50 day moving average price of $88.08 and a two-hundred day moving average price of $81.99. The stock has a market cap of $75.40 billion, a PE ratio of 29.08, a P/E/G ratio of 3.37 and a beta of 0.42. Colgate-Palmolive has a fifty-two week low of $67.62 and a fifty-two week high of $92.54. The company has a quick ratio of 0.28, a current ratio of 1.06 and a debt-to-equity ratio of 13.21.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, April 26th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04. The company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.96 billion. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The company’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.73 EPS. As a group, sell-side analysts predict that Colgate-Palmolive will post 3.52 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 22nd will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.18%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.48. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 63.29%.

Insider Activity

In related news, CEO Noel R. Wallace sold 69,948 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $84.22, for a total value of $5,891,020.56. Following the completion of the transaction, the chief executive officer now directly owns 286,881 shares of the company’s stock, valued at $24,161,117.82. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Noel R. Wallace sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $83.15, for a total transaction of $4,157,500.00. Following the completion of the transaction, the chief executive officer now owns 274,179 shares in the company, valued at approximately $22,797,983.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Noel R. Wallace sold 69,948 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $84.22, for a total value of $5,891,020.56. Following the completion of the sale, the chief executive officer now owns 286,881 shares in the company, valued at $24,161,117.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 159,048 shares of company stock worth $13,336,846. Company insiders own 0.37% of the company’s stock.

Institutional Investors Weigh In On Colgate-Palmolive

Several institutional investors and hedge funds have recently made changes to their positions in CL. Norges Bank bought a new position in Colgate-Palmolive in the 4th quarter valued at $731,843,000. Price T Rowe Associates Inc. MD raised its position in shares of Colgate-Palmolive by 16.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,133,218 shares of the company’s stock valued at $2,561,340,000 after acquiring an additional 4,625,472 shares during the period. Magellan Asset Management Ltd raised its holdings in Colgate-Palmolive by 4,162.6% in the fourth quarter. Magellan Asset Management Ltd now owns 2,016,290 shares of the company’s stock worth $160,718,000 after purchasing an additional 1,968,988 shares during the period. Confluence Investment Management LLC acquired a new stake in Colgate-Palmolive during the 1st quarter worth $130,622,000. Finally, FMR LLC raised its position in shares of Colgate-Palmolive by 27.3% during the third quarter. FMR LLC now owns 5,597,742 shares of the company’s stock worth $398,055,000 after purchasing an additional 1,199,660 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.