Colgate-Palmolive (NYSE:CL) PT Raised to $79.00 at Citigroup

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Colgate-Palmolive (NYSE:CL) had its price objective hoisted by Citigroup from $77.00 to $79.00 in a report released on Tuesday, BenzingaRatingsTable reports. The firm currently has a “neutral” rating on the stock. Citigroup‘s price objective points to a potential upside of 8.80% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. raised shares of Colgate-Palmolive from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $62.00 to $70.00 in a research note on Monday, April 29th. Piper Jaffray Companies started coverage on shares of Colgate-Palmolive in a research note on Tuesday, August 13th. They set an “overweight” rating for the company. Argus lifted their target price on shares of Colgate-Palmolive from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. UBS Group lifted their target price on shares of Colgate-Palmolive from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Wells Fargo & Co lifted their target price on shares of Colgate-Palmolive from $68.00 to $70.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company’s stock. Colgate-Palmolive has an average rating of “Hold” and a consensus price target of $73.87.

NYSE CL opened at $72.61 on Tuesday. Colgate-Palmolive has a twelve month low of $57.41 and a twelve month high of $76.41. The company has a debt-to-equity ratio of 32.25, a quick ratio of 0.78 and a current ratio of 1.13. The stock has a market cap of $62.50 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 4.65 and a beta of 0.76. The firm’s 50 day moving average price is $72.60 and its two-hundred day moving average price is $70.03.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, July 26th. The company reported $0.72 earnings per share for the quarter, hitting the consensus estimate of $0.72. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.88 billion. Colgate-Palmolive had a net margin of 14.77% and a negative return on equity of 10,821.98%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.77 EPS. On average, research analysts forecast that Colgate-Palmolive will post 2.84 EPS for the current fiscal year.

In related news, insider Ian M. Cook sold 175,616 shares of Colgate-Palmolive stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $72.65, for a total value of $12,758,502.40. Following the completion of the sale, the insider now owns 1,125,842 shares of the company’s stock, valued at approximately $81,792,421.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Henning I. Jakobsen sold 33,854 shares of Colgate-Palmolive stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $73.45, for a total transaction of $2,486,576.30. Following the completion of the sale, the chief financial officer now directly owns 73,693 shares of the company’s stock, valued at approximately $5,412,750.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 564,285 shares of company stock valued at $40,530,290. 1.14% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its holdings in Colgate-Palmolive by 3.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,737,377 shares of the company’s stock worth $103,412,000 after acquiring an additional 57,606 shares during the period. Geode Capital Management LLC grew its holdings in Colgate-Palmolive by 7.9% in the fourth quarter. Geode Capital Management LLC now owns 10,540,277 shares of the company’s stock valued at $626,200,000 after purchasing an additional 768,550 shares during the period. CWM LLC grew its holdings in Colgate-Palmolive by 115.7% in the first quarter. CWM LLC now owns 91,543 shares of the company’s stock valued at $6,274,000 after purchasing an additional 49,112 shares during the period. Merriman Wealth Management LLC acquired a new stake in Colgate-Palmolive in the first quarter valued at approximately $205,000. Finally, BB&T Corp grew its holdings in Colgate-Palmolive by 1.2% in the first quarter. BB&T Corp now owns 274,086 shares of the company’s stock valued at $18,786,000 after purchasing an additional 3,129 shares during the period. 75.83% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.

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Analyst Recommendations for Colgate-Palmolive (NYSE:CL)

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