Colgate-Palmolive (NYSE:CL) Raised to “Equal Weight” at Wells Fargo & Company

Colgate-Palmolive (NYSE:CL) was upgraded by Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a note issued to investors on Tuesday, Marketbeat reports. The brokerage currently has a $86.00 price target on the stock, up from their prior price target of $77.00. Wells Fargo & Company‘s target price would indicate a potential upside of 1.73% from the stock’s current price.

Several other research firms also recently weighed in on CL. Barclays lowered their price objective on shares of Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 4th. Bank of America cut their price target on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Citigroup reduced their price target on Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Argus reissued a “hold” rating on shares of Colgate-Palmolive in a report on Thursday, December 11th. Finally, Morgan Stanley reduced their target price on Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating for the company in a report on Monday, November 3rd. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and an average target price of $88.94.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $84.53 on Tuesday. Colgate-Palmolive has a 1-year low of $74.54 and a 1-year high of $100.18. The company has a current ratio of 0.93, a quick ratio of 0.60 and a debt-to-equity ratio of 5.90. The stock has a market cap of $68.14 billion, a P/E ratio of 23.68, a price-to-earnings-growth ratio of 5.62 and a beta of 0.30. The stock’s 50-day moving average is $79.13 and its 200-day moving average is $81.84.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.02. Colgate-Palmolive had a return on equity of 333.39% and a net margin of 14.47%.The business had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.17 billion. During the same period last year, the company earned $0.91 EPS. Colgate-Palmolive’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities research analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CL. Vanguard Group Inc. lifted its stake in Colgate-Palmolive by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock worth $7,522,129,000 after purchasing an additional 993,432 shares in the last quarter. Norges Bank bought a new position in Colgate-Palmolive in the second quarter worth approximately $960,390,000. Invesco Ltd. grew its stake in Colgate-Palmolive by 13.1% in the third quarter. Invesco Ltd. now owns 8,467,993 shares of the company’s stock valued at $676,931,000 after purchasing an additional 978,943 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in Colgate-Palmolive by 46.7% in the third quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company’s stock valued at $645,719,000 after acquiring an additional 2,572,796 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Colgate-Palmolive by 5.1% in the third quarter. Ameriprise Financial Inc. now owns 6,423,764 shares of the company’s stock valued at $517,167,000 after buying an additional 314,584 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.