JPMorgan Chase & Co. Boosts Colgate-Palmolive (NYSE:CL) Price Target to $99.00

Colgate-Palmolive (NYSE:CL) had its price target lifted by JPMorgan Chase & Co. from $97.00 to $99.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 10.06% from the stock’s previous close.

A number of other brokerages have also issued reports on CL. Piper Sandler lowered their price target on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company decreased their price objective on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Stifel Nicolaus dropped their target price on shares of Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $101.00 price target on shares of Colgate-Palmolive in a research note on Wednesday, January 29th. Finally, Barclays lowered their price target on shares of Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $101.72.

Colgate-Palmolive Price Performance

NYSE:CL traded down $0.57 during trading hours on Friday, reaching $89.95. 587,717 shares of the company were exchanged, compared to its average volume of 4,170,639. The stock’s 50-day moving average is $89.03 and its 200-day moving average is $94.93. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30. The firm has a market cap of $73.00 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, January 31st. The company reported $0.91 earnings per share 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 quarter in the prior year, the firm posted $0.87 earnings per share. On average, sell-side analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Colgate-Palmolive

Several large investors have recently modified their holdings of the business. Kohmann Bosshard Financial Services LLC acquired a new position in Colgate-Palmolive in the 4th quarter valued at about $26,000. Centricity Wealth Management LLC purchased a new stake in Colgate-Palmolive during the fourth quarter worth approximately $27,000. Vermillion Wealth Management Inc. acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at $31,000. Union Bancaire Privee UBP SA acquired a new position in Colgate-Palmolive in the fourth quarter valued at $32,000. Finally, Briaud Financial Planning Inc purchased a new position in Colgate-Palmolive during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

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.