Deutsche Bank Aktiengesellschaft Trims Colgate-Palmolive (NYSE:CL) Target Price to $88.00

Colgate-Palmolive (NYSE:CLGet Rating) had its target price cut by Deutsche Bank Aktiengesellschaft from $91.00 to $88.00 in a research note issued to investors on Monday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 14.21% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Credit Suisse Group decreased their price target on shares of Colgate-Palmolive from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Monday, January 31st. Raymond James started coverage on shares of Colgate-Palmolive in a research note on Thursday, April 7th. They set a “market perform” rating for the company. TheStreet lowered shares of Colgate-Palmolive from a “b-” rating to a “c+” rating in a research note on Friday, March 25th. Wells Fargo & Company cut their price objective on shares of Colgate-Palmolive from $78.00 to $76.00 and set an “underweight” rating for the company in a report on Monday, January 31st. Finally, Sanford C. Bernstein raised shares of Colgate-Palmolive from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $77.00 to $83.00 in a report on Wednesday, February 2nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Colgate-Palmolive has a consensus rating of “Hold” and an average price target of $86.20.

NYSE:CL opened at $77.05 on Monday. The firm has a 50-day moving average price of $77.40 and a two-hundred day moving average price of $79.08. The company has a debt-to-equity ratio of 7.41, a quick ratio of 0.67 and a current ratio of 1.09. Colgate-Palmolive has a 52 week low of $72.20 and a 52 week high of $85.61. The firm has a market cap of $64.77 billion, a price-to-earnings ratio of 31.84, a price-to-earnings-growth ratio of 3.79 and a beta of 0.62.

Colgate-Palmolive (NYSE:CLGet Rating) last issued its quarterly earnings results on Friday, April 29th. The company reported $0.74 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.74. Colgate-Palmolive had a net margin of 12.43% and a return on equity of 308.71%. The company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.40 billion. During the same quarter last year, the business posted $0.80 EPS. Colgate-Palmolive’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Colgate-Palmolive will post 3.25 earnings per share for the current year.

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

In other news, CTO Patricia Verduin sold 51,194 shares of Colgate-Palmolive stock in a transaction on Wednesday, February 2nd. The shares were sold at an average price of $82.39, for a total transaction of $4,217,873.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John P. Bilbrey sold 4,917 shares of Colgate-Palmolive stock in a transaction on Monday, February 14th. The stock was sold at an average price of $78.66, for a total transaction of $386,771.22. The disclosure for this sale can be found here. Over the last three months, insiders sold 127,080 shares of company stock valued at $10,443,094. Insiders own 0.31% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp raised its position in Colgate-Palmolive by 4.1% in the 3rd quarter. Van ECK Associates Corp now owns 14,913 shares of the company’s stock worth $1,127,000 after purchasing an additional 591 shares during the period. Lincoln National Corp increased its position in shares of Colgate-Palmolive by 3.4% in the third quarter. Lincoln National Corp now owns 10,655 shares of the company’s stock valued at $806,000 after acquiring an additional 347 shares during the period. Resources Investment Advisors LLC. increased its position in shares of Colgate-Palmolive by 33.5% in the third quarter. Resources Investment Advisors LLC. now owns 5,901 shares of the company’s stock valued at $446,000 after acquiring an additional 1,482 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Colgate-Palmolive by 6.3% in the third quarter. Daiwa Securities Group Inc. now owns 48,524 shares of the company’s stock valued at $3,667,000 after acquiring an additional 2,877 shares during the period. Finally, Regal Investment Advisors LLC increased its position in shares of Colgate-Palmolive by 41.3% in the third quarter. Regal Investment Advisors LLC now owns 4,111 shares of the company’s stock valued at $311,000 after acquiring an additional 1,202 shares during the period. 78.12% of the stock is owned by institutional investors.

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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