JPMorgan Chase & Co. Issues Positive Forecast for Colgate-Palmolive (NYSE:CL) Stock Price

Colgate-Palmolive (NYSE:CL) had its price target increased by stock analysts at JPMorgan Chase & Co. from $95.00 to $96.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 12.57% from the company’s previous close.

Several other brokerages also recently commented on CL. Wall Street Zen downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Sunday, March 29th. Barclays dropped their price target on Colgate-Palmolive from $88.00 to $79.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 14th. Morgan Stanley restated an “overweight” rating on shares of Colgate-Palmolive in a research note on Monday. Wells Fargo & Company dropped their price target on Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Finally, Bank of America dropped their price target on Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.81.

Colgate-Palmolive Stock Down 2.3%

CL traded down $1.98 during trading on Monday, hitting $85.28. 4,626,770 shares of the company’s stock traded hands, compared to its average volume of 6,656,054. The company’s 50 day simple moving average is $87.95 and its two-hundred day simple moving average is $84.15. The company has a current ratio of 0.44, a quick ratio of 0.29 and a debt-to-equity ratio of 18.82. Colgate-Palmolive has a 12-month low of $74.54 and a 12-month high of $99.33. The stock has a market capitalization of $68.42 billion, a price-to-earnings ratio of 33.18, a PEG ratio of 4.46 and a beta of 0.31.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, May 1st. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The business had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same period last year, the business posted $0.91 EPS. The company’s revenue was up 8.4% compared to the same quarter last year. Analysts predict that Colgate-Palmolive will post 3.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Sally Massey sold 15,851 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $95.03, for a total value of $1,506,320.53. Following the transaction, the insider directly owned 13,751 shares of the company’s stock, valued at approximately $1,306,757.53. This trade represents a 53.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stanley J. Sutula III sold 97,843 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $94.27, for a total value of $9,223,659.61. Following the completion of the transaction, the chief financial officer directly owned 55,310 shares in the company, valued at approximately $5,214,073.70. This represents a 63.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 184,683 shares of company stock valued at $17,486,693 in the last 90 days. 0.43% of the stock is owned by company insiders.

Hedge Funds Weigh In On Colgate-Palmolive

A number of institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its holdings in Colgate-Palmolive by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 1,009,014 shares of the company’s stock worth $85,998,000 after purchasing an additional 32,721 shares during the period. Citizens National Bank Trust Department raised its holdings in Colgate-Palmolive by 23.5% during the first quarter. Citizens National Bank Trust Department now owns 7,768 shares of the company’s stock valued at $662,000 after acquiring an additional 1,480 shares during the period. Chicago Partners Investment Group LLC raised its holdings in Colgate-Palmolive by 22.1% during the first quarter. Chicago Partners Investment Group LLC now owns 17,959 shares of the company’s stock valued at $1,479,000 after acquiring an additional 3,248 shares during the period. GHE LLC raised its holdings in Colgate-Palmolive by 18.9% during the first quarter. GHE LLC now owns 23,481 shares of the company’s stock valued at $2,001,000 after acquiring an additional 3,725 shares during the period. Finally, Tradewinds LLC. raised its holdings in Colgate-Palmolive by 7.4% during the first quarter. Tradewinds LLC. now owns 3,049 shares of the company’s stock valued at $266,000 after acquiring an additional 211 shares during the period. 80.41% of the stock is owned by institutional investors.

About Colgate-Palmolive

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.