Bank of America Increases Colgate-Palmolive (NYSE:CL) Price Target to $100.00

Colgate-Palmolive (NYSE:CL) had its target price upped by Bank of America from $90.00 to $100.00 in a research report released on Monday morning, Benzinga reports. The firm currently has a buy rating on the stock.

CL has been the topic of several other research reports. JPMorgan Chase & Co. raised their price target on shares of Colgate-Palmolive from $88.00 to $90.00 and gave the company an overweight rating in a research report on Thursday, January 18th. Barclays raised their price target on shares of Colgate-Palmolive from $82.00 to $84.00 and gave the company an equal weight rating in a research report on Friday, April 12th. Royal Bank of Canada raised their price target on shares of Colgate-Palmolive from $88.00 to $95.00 and gave the company a sector perform rating in a research report on Monday. Morgan Stanley raised their price target on shares of Colgate-Palmolive from $85.00 to $93.00 and gave the company an overweight rating in a research report on Monday, January 29th. Finally, Wells Fargo & Company raised their price target on shares of Colgate-Palmolive from $80.00 to $88.00 and gave the company an equal weight rating in a research report on Monday, January 29th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $91.44.

Colgate-Palmolive Stock Up 1.1 %

NYSE:CL opened at $92.91 on Monday. The firm has a market capitalization of $76.23 billion, a P/E ratio of 29.40, a PEG ratio of 3.39 and a beta of 0.40. Colgate-Palmolive has a 1-year low of $67.62 and a 1-year high of $93.25. The company’s fifty day moving average price is $88.22 and its 200-day moving average price is $82.07. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.06 and a quick ratio of 0.28.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, April 26th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.96 billion. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.73 earnings per share. As a group, equities research analysts anticipate that Colgate-Palmolive will post 3.52 EPS for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 22nd will be paid a $0.50 dividend. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Friday, April 19th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 63.29%.

Insider Transactions at Colgate-Palmolive

In other news, insider Jennifer Daniels sold 3,538 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $84.67, for a total value of $299,562.46. Following the transaction, the insider now directly owns 59,698 shares of the company’s stock, valued at $5,054,629.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Colgate-Palmolive news, CEO Noel R. Wallace sold 29,772 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $84.06, for a total value of $2,502,634.32. Following the transaction, the chief executive officer now directly owns 301,343 shares in the company, valued at approximately $25,330,892.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Daniels sold 3,538 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were 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 $5,054,629.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 159,048 shares of company stock valued at $13,336,846. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Colgate-Palmolive

Several institutional investors and hedge funds have recently bought and sold shares of the company. Union Savings Bank raised its stake in shares of Colgate-Palmolive by 76.6% in the 4th quarter. Union Savings Bank now owns 309 shares of the company’s stock valued at $25,000 after acquiring an additional 134 shares during the period. PSI Advisors LLC raised its stake in shares of Colgate-Palmolive by 4,971.4% in the 1st quarter. PSI Advisors LLC now owns 355 shares of the company’s stock valued at $32,000 after acquiring an additional 348 shares during the period. OFI Invest Asset Management purchased a new stake in shares of Colgate-Palmolive in the 3rd quarter valued at approximately $25,000. Avion Wealth raised its stake in shares of Colgate-Palmolive by 78.1% in the 4th quarter. Avion Wealth now owns 399 shares of the company’s stock valued at $32,000 after acquiring an additional 175 shares during the period. Finally, Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive in the 4th quarter valued at approximately $32,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

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.