Colgate-Palmolive (NYSE:CL) Price Target Raised to $87.00

Colgate-Palmolive (NYSE:CL) had its target price boosted by Barclays from $80.00 to $87.00 in a report published on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other brokerages have also recently issued reports on CL. Piper Sandler boosted their price objective on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. The Goldman Sachs Group restated a “buy” rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. UBS Group lifted their target price on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Weiss Ratings upgraded shares of Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 4th. Finally, Bank of America cut their price target on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating for the company in a report on Friday, April 10th. Twelve analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $97.82.

Colgate-Palmolive Trading Down 1.8%

Shares of Colgate-Palmolive stock opened at $89.98 on Tuesday. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. The company has a market capitalization of $72.00 billion, a P/E ratio of 35.01, a PEG ratio of 4.83 and a beta of 0.33. Colgate-Palmolive has a 1 year low of $74.54 and a 1 year high of $99.33. The company’s fifty day moving average is $90.72 and its two-hundred day moving average is $88.95.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, May 1st. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The business had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the prior year, the company earned $0.91 earnings per share. The business’s revenue was up 8.4% compared to the same quarter last year. Analysts forecast that Colgate-Palmolive will post 3.81 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be issued a $0.53 dividend. The ex-dividend date is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.4%. Colgate-Palmolive’s dividend payout ratio is currently 82.49%.

Hedge Funds Weigh In On Colgate-Palmolive

Several hedge funds and other institutional investors have recently bought and sold shares of CL. Kemnay Advisory Services Inc. purchased a new position in shares of Colgate-Palmolive in the fourth quarter valued at $25,000. CBIZ Investment Advisory Services LLC boosted its position in shares of Colgate-Palmolive by 86.7% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock worth $26,000 after buying an additional 150 shares in the last quarter. TD Capital Management LLC grew its stake in Colgate-Palmolive by 61.4% in the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after acquiring an additional 124 shares during the last quarter. Triumph Capital Management grew its stake in Colgate-Palmolive by 62.9% in the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock valued at $26,000 after acquiring an additional 127 shares during the last quarter. Finally, Jessup Wealth Management Inc purchased a new position in Colgate-Palmolive during the 4th quarter valued at about $26,000. 80.41% of the stock is owned by institutional investors and hedge funds.

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.