Colgate-Palmolive (NYSE:CL) Given New $108.00 Price Target at Citigroup

Colgate-Palmolive (NYSE:CL) had its price target lifted by Citigroup from $103.00 to $108.00 in a research note published on Monday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other equities analysts have also issued reports about the company. Morgan Stanley cut their target price on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Raymond James reaffirmed an “outperform” rating and issued a $105.00 price target (down from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. Stifel Nicolaus dropped their target price on shares of Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $101.00 price target on shares of Colgate-Palmolive in a research report on Wednesday, January 29th. Finally, StockNews.com lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $102.39.

Colgate-Palmolive Price Performance

Shares of CL stock opened at $90.99 on Monday. The firm has a fifty day simple moving average of $92.14 and a 200-day simple moving average of $92.05. The company has a market capitalization of $73.80 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. The company had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.92 billion. During the same period in the prior year, the company posted $0.86 EPS. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. Equities research analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive announced that its board has approved a share repurchase plan on Thursday, March 20th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to purchase up to 6.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be given a $0.52 dividend. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, April 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.29%. Colgate-Palmolive’s dividend payout ratio (DPR) is 59.09%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CL. Cornerstone Wealth Management LLC lifted its position in shares of Colgate-Palmolive by 1.2% in the 1st quarter. Cornerstone Wealth Management LLC now owns 9,035 shares of the company’s stock valued at $847,000 after acquiring an additional 110 shares in the last quarter. Axxcess Wealth Management LLC grew its position in Colgate-Palmolive by 0.3% during the fourth quarter. Axxcess Wealth Management LLC now owns 38,786 shares of the company’s stock valued at $3,526,000 after purchasing an additional 117 shares in the last quarter. Commonwealth Financial Services LLC increased its stake in shares of Colgate-Palmolive by 4.5% in the fourth quarter. Commonwealth Financial Services LLC now owns 2,716 shares of the company’s stock worth $247,000 after acquiring an additional 118 shares during the last quarter. Wescott Financial Advisory Group LLC raised its holdings in shares of Colgate-Palmolive by 3.5% during the fourth quarter. Wescott Financial Advisory Group LLC now owns 3,517 shares of the company’s stock worth $320,000 after acquiring an additional 119 shares in the last quarter. Finally, D Orazio & Associates Inc. boosted its position in Colgate-Palmolive by 4.2% during the fourth quarter. D Orazio & Associates Inc. now owns 2,982 shares of the company’s stock valued at $271,000 after purchasing an additional 120 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

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.