Colgate-Palmolive (NYSE:CL) Receives $102.12 Average PT from Brokerages

Shares of Colgate-Palmolive (NYSE:CL) have been assigned a consensus rating of “Hold” from the twenty brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $102.12.

CL has been the subject of several research analyst reports. Stifel Nicolaus lowered their price objective on Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating for the company in a report on Monday, February 3rd. Barclays lowered their price objective on Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. Wells Fargo & Company boosted their price objective on Colgate-Palmolive from $83.00 to $88.00 and gave the company an “underweight” rating in a report on Wednesday, April 2nd. Piper Sandler lowered their price objective on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating for the company in a report on Monday, March 31st. Finally, Wall Street Zen lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th.

Hedge Funds Weigh In On Colgate-Palmolive

Several hedge funds and other institutional investors have recently made changes to their positions in CL. Cornerstone Wealth Management LLC lifted its stake in shares of Colgate-Palmolive by 1.2% in the first quarter. Cornerstone Wealth Management LLC now owns 9,035 shares of the company’s stock valued at $847,000 after buying an additional 110 shares during the period. Axxcess Wealth Management LLC lifted its stake in shares of Colgate-Palmolive by 0.3% in the fourth quarter. Axxcess Wealth Management LLC now owns 38,786 shares of the company’s stock valued at $3,526,000 after buying an additional 117 shares during the period. Commonwealth Financial Services LLC lifted its stake in shares of Colgate-Palmolive by 4.5% in the fourth quarter. Commonwealth Financial Services LLC now owns 2,716 shares of the company’s stock valued at $247,000 after buying an additional 118 shares during the period. Wescott Financial Advisory Group LLC lifted its stake in shares of Colgate-Palmolive by 3.5% in the fourth quarter. Wescott Financial Advisory Group LLC now owns 3,517 shares of the company’s stock valued at $320,000 after buying an additional 119 shares during the period. Finally, D Orazio & Associates Inc. raised its position in Colgate-Palmolive by 4.2% in the fourth quarter. D Orazio & Associates Inc. now owns 2,982 shares of the company’s stock worth $271,000 after purchasing an additional 120 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Up 1.9%

Shares of NYSE CL opened at $92.67 on Friday. Colgate-Palmolive has a 1 year low of $85.32 and a 1 year high of $109.30. The firm has a market cap of $75.10 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 4.20 and a beta of 0.39. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92. The stock’s 50-day simple moving average is $91.81 and its 200-day simple moving average is $91.24.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. The business had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. During the same period in the previous year, the company earned $0.86 earnings per share. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, equities analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th were given a dividend of $0.52 per share. The ex-dividend date was Thursday, April 17th. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 2.24%. Colgate-Palmolive’s payout ratio is currently 58.76%.

Colgate-Palmolive declared that its Board of Directors has initiated a stock buyback program on Thursday, March 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to repurchase up to 6.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

About Colgate-Palmolive

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.