Colgate-Palmolive (NYSE:CL) Price Target Raised to $92.00

Colgate-Palmolive (NYSE:CL) had its target price raised by Wells Fargo & Company from $90.00 to $92.00 in a research report released on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

Other research analysts have also issued reports about the stock. Raymond James raised shares of Colgate-Palmolive from a market perform rating to an outperform rating and set a $91.00 price objective on the stock in a research note on Monday, January 29th. Evercore ISI raised their price target on shares of Colgate-Palmolive from $90.00 to $96.00 and gave the company an outperform rating in a research report on Monday, April 8th. Citigroup boosted their price objective on Colgate-Palmolive from $95.00 to $100.00 and gave the stock a buy rating in a report on Tuesday, April 16th. TheStreet upgraded Colgate-Palmolive from a c+ rating to a b+ rating in a report on Friday, January 26th. Finally, Stifel Nicolaus upped their price target on Colgate-Palmolive from $94.00 to $95.00 and gave the stock a buy rating in a report on Monday. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Colgate-Palmolive has a consensus rating of Moderate Buy and a consensus price target of $91.38.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $90.49 on Monday. The business has a 50-day simple moving average of $87.80 and a 200 day simple moving average of $81.77. Colgate-Palmolive has a one year low of $67.62 and a one year high of $92.25. The company has a debt-to-equity ratio of 8.59, a current ratio of 0.42 and a quick ratio of 0.28. The firm has a market capitalization of $74.38 billion, a price-to-earnings ratio of 28.64, a PEG ratio of 3.42 and a beta of 0.42.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, April 26th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. Colgate-Palmolive had a return on equity of 485.40% and a net margin of 13.22%. The firm had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.96 billion. During the same quarter in the previous year, the company posted $0.73 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis. On average, research analysts anticipate that Colgate-Palmolive will post 3.5 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 22nd will be given a dividend of $0.50 per share. The ex-dividend date is Friday, April 19th. This represents a $2.00 annualized dividend and a yield of 2.21%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.48. Colgate-Palmolive’s dividend payout ratio is presently 63.29%.

Insider Buying and Selling

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 69,948 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $84.22, for a total value of $5,891,020.56. Following the transaction, the chief executive officer now directly owns 286,881 shares in the company, valued at $24,161,117.82. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Jennifer Daniels sold 3,538 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $84.67, for a total transaction of $299,562.46. Following the completion of the transaction, the insider now owns 59,698 shares in the company, valued at approximately $5,054,629.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Noel R. Wallace sold 69,948 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $84.22, for a total value of $5,891,020.56. Following the completion of the sale, the chief executive officer now owns 286,881 shares in the company, valued at $24,161,117.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 232,371 shares of company stock worth $19,505,099. Insiders own 0.37% of the company’s stock.

Hedge Funds Weigh In On Colgate-Palmolive

Several large investors have recently modified their holdings of CL. Legacy Trust lifted its stake in shares of Colgate-Palmolive by 1.7% during the 1st quarter. Legacy Trust now owns 6,925 shares of the company’s stock valued at $624,000 after buying an additional 116 shares in the last quarter. Checchi Capital Advisers LLC lifted its position in shares of Colgate-Palmolive by 1.5% during the first quarter. Checchi Capital Advisers LLC now owns 7,829 shares of the company’s stock worth $705,000 after acquiring an additional 118 shares in the last quarter. Regal Investment Advisors LLC boosted its holdings in shares of Colgate-Palmolive by 1.6% in the fourth quarter. Regal Investment Advisors LLC now owns 7,574 shares of the company’s stock worth $604,000 after acquiring an additional 121 shares during the period. M&G Investment Management Ltd. grew its position in shares of Colgate-Palmolive by 0.3% in the fourth quarter. M&G Investment Management Ltd. now owns 49,269 shares of the company’s stock valued at $3,942,000 after purchasing an additional 125 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC raised its stake in shares of Colgate-Palmolive by 3.9% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 3,404 shares of the company’s stock valued at $271,000 after purchasing an additional 127 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

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.