Colgate-Palmolive (NYSE:CL) Price Target Raised to $110.00

Colgate-Palmolive (NYSE:CL) had its price target lifted by Bank of America from $100.00 to $110.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price target would indicate a potential upside of 12.52% from the company’s previous close.

A number of other research firms also recently weighed in on CL. Citigroup increased their price target on Colgate-Palmolive from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Morgan Stanley raised their price objective on Colgate-Palmolive from $101.00 to $103.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 28th. Barclays raised their price objective on Colgate-Palmolive from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. Wells Fargo & Company raised their price objective on Colgate-Palmolive from $92.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Royal Bank of Canada raised their price objective on Colgate-Palmolive from $88.00 to $95.00 and gave the stock a “sector perform” rating in a research note on Monday, April 29th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.33.

Colgate-Palmolive Stock Performance

CL stock opened at $97.76 on Wednesday. The business’s fifty day moving average is $95.01 and its 200-day moving average is $88.68. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 13.21. The company has a market cap of $80.21 billion, a P/E ratio of 30.94, a price-to-earnings-growth ratio of 3.59 and a beta of 0.39. Colgate-Palmolive has a twelve month low of $67.62 and a twelve month high of $99.08.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, April 26th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. The company had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.96 billion. Colgate-Palmolive had a return on equity of 485.40% and a net margin of 13.22%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.73 EPS. Equities research analysts forecast that Colgate-Palmolive will post 3.53 EPS for the current year.

Insiders Place Their Bets

In other news, insider Sally Massey sold 12,226 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $94.06, for a total value of $1,149,977.56. Following the completion of the transaction, the insider now owns 13,924 shares in the company, valued at approximately $1,309,691.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Sally Massey sold 12,226 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $94.06, for a total value of $1,149,977.56. Following the completion of the transaction, the insider now owns 13,924 shares in the company, valued at approximately $1,309,691.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John W. Kooyman sold 3,497 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total value of $326,864.59. Following the completion of the transaction, the insider now owns 3,181 shares of the company’s stock, valued at approximately $297,328.07. The disclosure for this sale can be found here. Corporate insiders own 0.37% of the company’s stock.

Institutional Trading of Colgate-Palmolive

A number of hedge funds have recently made changes to their positions in CL. Vanguard Group Inc. increased its holdings in shares of Colgate-Palmolive by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 79,894,344 shares of the company’s stock worth $6,368,378,000 after acquiring an additional 416,853 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Colgate-Palmolive by 27.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock worth $3,698,096,000 after acquiring an additional 8,933,912 shares during the last quarter. Norges Bank acquired a new position in shares of Colgate-Palmolive during the 4th quarter worth approximately $731,843,000. GUARDCAP ASSET MANAGEMENT Ltd increased its holdings in shares of Colgate-Palmolive by 4.1% during the 1st quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 6,987,454 shares of the company’s stock worth $629,220,000 after acquiring an additional 278,150 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Colgate-Palmolive by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,426,430 shares of the company’s stock worth $352,824,000 after acquiring an additional 77,679 shares during the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

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.