Colgate-Palmolive (NYSE:CL) Price Target Raised to $109.00 at UBS Group

Colgate-Palmolive (NYSE:CL) had its price target raised by UBS Group from $105.00 to $109.00 in a research report report published on Thursday,Benzinga reports. UBS Group currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the company. Morgan Stanley cut their price target on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. TD Cowen lowered their price target on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. StockNews.com downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Wednesday. Piper Sandler reduced their price objective on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $102.17.

Colgate-Palmolive Stock Performance

Shares of CL opened at $95.49 on Thursday. The business has a 50-day simple moving average of $91.15 and a two-hundred day simple moving average of $92.48. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40. Colgate-Palmolive has a 52 week low of $85.32 and a 52 week high of $109.30. The stock has a market cap of $77.45 billion, a price-to-earnings ratio of 27.13, a PEG ratio of 4.20 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.01. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. During the same period last year, the business posted $0.87 earnings per share. On average, analysts expect that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.18%. The ex-dividend date is Thursday, April 17th. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 59.09%.

Colgate-Palmolive declared that its Board of Directors has approved a share buyback program on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Colgate-Palmolive

Several institutional investors and hedge funds have recently modified their holdings of CL. Chicago Partners Investment Group LLC increased its position in Colgate-Palmolive by 16.2% during the 4th quarter. Chicago Partners Investment Group LLC now owns 6,752 shares of the company’s stock valued at $591,000 after purchasing an additional 943 shares during the period. Aviva PLC boosted its stake in shares of Colgate-Palmolive by 13.4% during the fourth quarter. Aviva PLC now owns 973,421 shares of the company’s stock valued at $88,494,000 after purchasing an additional 114,855 shares in the last quarter. Peak Financial Advisors LLC purchased a new position in Colgate-Palmolive during the fourth quarter valued at approximately $1,315,000. Fiduciary Alliance LLC bought a new position in Colgate-Palmolive in the fourth quarter worth approximately $4,066,000. Finally, Impact Partnership Wealth LLC purchased a new stake in Colgate-Palmolive during the fourth quarter worth $803,000. Institutional investors 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.