Colgate-Palmolive (NYSE:CL – Free Report) had its target price lowered by JPMorgan Chase & Co. from $104.00 to $102.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.
Several other equities analysts have also recently commented on CL. UBS Group increased their target price on Colgate-Palmolive from $106.00 to $112.00 and gave the company a “buy” rating in a research note on Monday. Evercore lifted their price target on shares of Colgate-Palmolive from $100.00 to $101.00 and gave the stock an “outperform” rating in a research note on Thursday, October 8th. Barclays lifted their price target on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. BNP Paribas Exane cut their price target on shares of Colgate-Palmolive from $101.00 to $97.00 and set an “outperform” rating on the stock in a report on Monday, September 28th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $89.00 price objective (up from $88.00) on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Thirteen 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.com, Colgate-Palmolive has an average rating of “Moderate Buy” and an average price target of $101.22.
Check Out Our Latest Stock Analysis on Colgate-Palmolive
Colgate-Palmolive Price Performance
Shares of NYSE CL opened at $98.65 on Monday. Colgate-Palmolive has a fifty-two week low of $75.96 and a fifty-two week high of $99.69. The business has a 50 day moving average price of $89.88 and a two-hundred day moving average price of $89.85. 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 market cap of $78.42 billion, a PE ratio of 24.64, a price-to-earnings-growth ratio of 4.34 and a beta of 0.31.
Colgate-Palmolive (NYSE:CL – Get Free Report) last posted its quarterly earnings data on Friday, October 30th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. Colgate-Palmolive had a return on equity of 607.88% and a net margin of 9.65%. The company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.34 billion. During the same period in the previous year, the business earned $0.91 EPS. Colgate-Palmolive’s revenue for the quarter was up 4.6% compared to the same quarter last year. Sell-side analysts expect that Colgate-Palmolive will post 3.91 earnings per share for the current fiscal year.
Colgate-Palmolive Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 20th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, October 20th. Colgate-Palmolive’s payout ratio is currently 83.14%.
Insider Transactions at Colgate-Palmolive
In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $92.05, for a total transaction of $920,500.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.43% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in CL. Cooper Financial Group boosted its holdings in Colgate-Palmolive by 4.0% in the second quarter. Cooper Financial Group now owns 2,947 shares of the company’s stock worth $270,000 after purchasing an additional 114 shares during the period. Gould Capital LLC increased its stake in Colgate-Palmolive by 38.7% during the first quarter. Gould Capital LLC now owns 412 shares of the company’s stock valued at $35,000 after purchasing an additional 115 shares during the last quarter. Redhawk Wealth Advisors Inc. increased its stake in Colgate-Palmolive by 2.8% during the second quarter. Redhawk Wealth Advisors Inc. now owns 4,326 shares of the company’s stock valued at $397,000 after purchasing an additional 118 shares during the last quarter. SVB Wealth LLC raised its holdings in shares of Colgate-Palmolive by 1.4% during the second quarter. SVB Wealth LLC now owns 8,767 shares of the company’s stock worth $804,000 after purchasing an additional 119 shares during the period. Finally, Sowell Financial Services LLC raised its holdings in shares of Colgate-Palmolive by 2.1% during the third quarter. Sowell Financial Services LLC now owns 5,737 shares of the company’s stock worth $490,000 after purchasing an additional 119 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.
Trending Headlines about Colgate-Palmolive
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
About Colgate-Palmolive
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.
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