Colgate-Palmolive (NYSE:CL) Price Target Increased to $76.00 by Analysts at Deutsche Bank
Colgate-Palmolive (NYSE:CL) had its target price hoisted by Deutsche Bank from $74.00 to $76.00 in a research report released on Friday, BenzingaRatingsTable reports. They currently have a hold rating on the stock.
A number of other research firms have also recently issued reports on CL. Citigroup set a $68.00 target price on Colgate-Palmolive and gave the company a hold rating in a research note on Tuesday, March 19th. Jefferies Financial Group reiterated a buy rating and issued a GBX 265 ($3.46) target price on shares of WM Morrison Supermarkets in a research note on Monday, April 29th. ValuEngine cut Zumiez from a hold rating to a sell rating in a research note on Monday, May 13th. UBS Group raised their target price on Colgate-Palmolive from $71.00 to $75.00 and gave the company a buy rating in a research note on Friday, March 29th. Finally, Macquarie assumed coverage on Rollins in a research note on Monday, April 29th. They issued a neutral rating and a $38.90 target price on the stock. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $71.94.
Colgate-Palmolive stock opened at $74.00 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.74 and a debt-to-equity ratio of 32.25. The firm has a market capitalization of $63.86 billion, a P/E ratio of 24.92, a PEG ratio of 4.87 and a beta of 0.78. Colgate-Palmolive has a 12 month low of $57.41 and a 12 month high of $74.67. The stock has a fifty day simple moving average of $72.68.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, July 18th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Wednesday, July 17th. Colgate-Palmolive’s dividend payout ratio is currently 57.91%.
In related news, SVP John J. Huston sold 473 shares of Colgate-Palmolive stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $72.93, for a total transaction of $34,495.89. Following the transaction, the senior vice president now directly owns 59,668 shares of the company’s stock, valued at $4,351,587.24. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Justin Skala sold 92,643 shares of Colgate-Palmolive stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $70.78, for a total value of $6,557,271.54. Following the transaction, the vice president now directly owns 163,653 shares in the company, valued at $11,583,359.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 342,684 shares of company stock worth $24,462,721. Company insiders own 1.14% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in CL. Norges Bank acquired a new position in Colgate-Palmolive during the fourth quarter worth about $488,436,000. FMR LLC grew its holdings in Colgate-Palmolive by 29.1% during the first quarter. FMR LLC now owns 7,384,604 shares of the company’s stock worth $506,141,000 after acquiring an additional 1,665,348 shares during the period. Ronna Sue Cohen grew its holdings in Colgate-Palmolive by 6,221.2% during the first quarter. Ronna Sue Cohen now owns 854,749 shares of the company’s stock worth $855,000 after acquiring an additional 841,227 shares during the period. Geode Capital Management LLC grew its holdings in Colgate-Palmolive by 7.9% during the fourth quarter. Geode Capital Management LLC now owns 10,540,277 shares of the company’s stock worth $626,200,000 after acquiring an additional 768,550 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in Colgate-Palmolive by 1,647.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 754,526 shares of the company’s stock worth $44,936,000 after acquiring an additional 711,339 shares during the period. 75.72% of the stock is currently owned by hedge funds and other institutional investors.
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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