Colgate-Palmolive (NYSE:CL) Price Target Increased to $97.00 by Analysts at Wells Fargo & Company

Colgate-Palmolive (NYSE:CLFree Report) had its price target increased by Wells Fargo & Company from $92.00 to $97.00 in a research report released on Wednesday, Benzinga reports. They currently have an equal weight rating on the stock.

Several other research firms have also recently weighed in on CL. Citigroup increased their price objective on shares of Colgate-Palmolive from $95.00 to $100.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. Barclays increased their price target on Colgate-Palmolive from $84.00 to $85.00 and gave the stock an equal weight rating in a report on Tuesday, April 30th. Argus lifted their price objective on Colgate-Palmolive from $97.00 to $107.00 and gave the stock a buy rating in a research report on Wednesday, May 15th. Evercore ISI lifted their price objective on Colgate-Palmolive from $90.00 to $96.00 and gave the stock an outperform rating in a research report on Monday, April 8th. Finally, BNP Paribas began coverage on Colgate-Palmolive in a research report on Monday, June 24th. They issued an outperform rating and a $109.00 price objective for the company. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $94.67.

Read Our Latest Research Report on Colgate-Palmolive

Colgate-Palmolive Stock Up 0.4 %

Shares of CL opened at $97.39 on Wednesday. The stock’s 50-day moving average price is $94.92 and its two-hundred day moving average price is $88.62. Colgate-Palmolive has a 12 month low of $67.62 and a 12 month high of $99.08. The company has a market capitalization of $79.90 billion, a PE ratio of 30.82, a PEG ratio of 3.59 and a beta of 0.39. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 13.21.

Colgate-Palmolive (NYSE:CLGet Free Report) last posted its quarterly earnings data on Friday, April 26th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. Colgate-Palmolive had a return on equity of 485.40% and a net margin of 13.22%. The company had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.96 billion. During the same period in the previous year, the firm earned $0.73 earnings per share. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. On average, analysts anticipate that Colgate-Palmolive will post 3.53 EPS for the current year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Friday, July 19th. Colgate-Palmolive’s dividend payout ratio is currently 63.29%.

Insiders Place Their Bets

In other Colgate-Palmolive news, insider John W. Kooyman sold 3,497 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total transaction of $326,864.59. Following the completion of the sale, the insider now directly owns 3,181 shares of the company’s stock, valued at approximately $297,328.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Colgate-Palmolive news, insider John W. Kooyman sold 3,497 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total transaction of $326,864.59. Following the completion of the sale, the insider now directly owns 3,181 shares of the company’s stock, valued at approximately $297,328.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sally Massey sold 12,226 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $94.06, for a total value of $1,149,977.56. Following the sale, the insider now directly owns 13,924 shares of the company’s stock, valued at $1,309,691.44. The disclosure for this sale can be found here. Corporate insiders own 0.37% of the company’s stock.

Hedge Funds Weigh In On Colgate-Palmolive

A number of hedge funds and other institutional investors have recently modified their holdings of CL. Integrated Advisors Network LLC boosted its stake in shares of Colgate-Palmolive by 34.8% in the 3rd quarter. Integrated Advisors Network LLC now owns 3,923 shares of the company’s stock worth $279,000 after buying an additional 1,013 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in Colgate-Palmolive by 11.5% in the third quarter. Public Sector Pension Investment Board now owns 88,553 shares of the company’s stock valued at $6,297,000 after purchasing an additional 9,116 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in Colgate-Palmolive by 431.0% in the third quarter. EP Wealth Advisors LLC now owns 41,289 shares of the company’s stock valued at $2,936,000 after purchasing an additional 33,514 shares during the last quarter. Neo Ivy Capital Management purchased a new position in Colgate-Palmolive in the third quarter valued at approximately $640,000. Finally, Anchor Investment Management LLC purchased a new position in Colgate-Palmolive in the fourth quarter valued at approximately $993,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

About Colgate-Palmolive

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Colgate-Palmolive (NYSE:CL)

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