Colgate-Palmolive (NYSE:CL) Given New $88.00 Price Target at Stifel Nicolaus

Colgate-Palmolive (NYSE:CLGet Rating) had its price objective dropped by stock analysts at Stifel Nicolaus from $90.00 to $88.00 in a note issued to investors on Wednesday, The Fly reports. Stifel Nicolaus’ price target points to a potential upside of 8.72% from the company’s previous close.

A number of other brokerages have also commented on CL. Wells Fargo & Company dropped their price target on Colgate-Palmolive from $78.00 to $76.00 and set an “underweight” rating for the company in a research note on Monday, January 31st. Redburn Partners assumed coverage on Colgate-Palmolive in a research note on Thursday, December 16th. They issued a “neutral” rating for the company. Raymond James assumed coverage on Colgate-Palmolive in a research note on Thursday, April 7th. They issued a “market perform” rating for the company. Barclays dropped their price target on Colgate-Palmolive from $90.00 to $81.00 and set an “equal weight” rating for the company in a research note on Friday, April 1st. Finally, Credit Suisse Group dropped their price target on Colgate-Palmolive from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Monday, January 31st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Colgate-Palmolive presently has an average rating of “Hold” and a consensus price target of $86.40.

NYSE:CL opened at $80.94 on Wednesday. The firm has a market cap of $68.04 billion, a PE ratio of 31.62, a price-to-earnings-growth ratio of 3.93 and a beta of 0.62. Colgate-Palmolive has a fifty-two week low of $72.20 and a fifty-two week high of $85.61. The company has a debt-to-equity ratio of 7.41, a quick ratio of 0.67 and a current ratio of 1.09. The business has a 50 day moving average price of $77.18 and a 200-day moving average price of $78.65.

Colgate-Palmolive (NYSE:CLGet Rating) last released its quarterly earnings data on Friday, January 28th. The company reported $0.79 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.79. The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.42 billion. Colgate-Palmolive had a return on equity of 308.71% and a net margin of 12.43%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.77 earnings per share. Research analysts predict that Colgate-Palmolive will post 3.29 EPS for the current year.

Colgate-Palmolive declared that its Board of Directors has authorized a stock repurchase plan on Thursday, March 10th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 8.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

In other news, CTO Patricia Verduin sold 51,194 shares of the firm’s stock in a transaction on Wednesday, February 2nd. The stock was sold at an average price of $82.39, for a total transaction of $4,217,873.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John P. Bilbrey sold 4,917 shares of Colgate-Palmolive stock in a transaction dated Monday, February 14th. The stock was sold at an average price of $78.66, for a total value of $386,771.22. The disclosure for this sale can be found here. Insiders have sold 127,080 shares of company stock valued at $10,443,094 over the last 90 days. Corporate insiders own 0.32% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. DeDora Capital Inc. bought a new stake in Colgate-Palmolive in the 1st quarter worth about $61,000. Rosenberg Matthew Hamilton boosted its position in Colgate-Palmolive by 38.5% in the first quarter. Rosenberg Matthew Hamilton now owns 2,129 shares of the company’s stock worth $161,000 after purchasing an additional 592 shares during the last quarter. Bar Harbor Trust Services boosted its position in Colgate-Palmolive by 48.6% in the first quarter. Bar Harbor Trust Services now owns 7,642 shares of the company’s stock worth $579,000 after purchasing an additional 2,501 shares during the last quarter. Unigestion Holding SA boosted its position in Colgate-Palmolive by 1.5% in the first quarter. Unigestion Holding SA now owns 15,814 shares of the company’s stock worth $1,199,000 after purchasing an additional 232 shares during the last quarter. Finally, InTrack Investment Management Inc boosted its position in Colgate-Palmolive by 16.9% in the first quarter. InTrack Investment Management Inc now owns 4,810 shares of the company’s stock worth $365,000 after purchasing an additional 695 shares during the last quarter. Institutional investors own 77.15% of the company’s stock.

About Colgate-Palmolive (Get Rating)

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company 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.

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