JPMorgan Chase & Co. Raises Colgate-Palmolive (NYSE:CL) Price Target to $93.00

Colgate-Palmolive (NYSE:CL) had its price objective boosted by investment analysts at JPMorgan Chase & Co. from $88.00 to $93.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 10.07% from the company’s current price.

CL has been the topic of several other research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. Royal Bank Of Canada upgraded Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 target price for the company in a report on Tuesday, December 9th. Barclays cut their price target on Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 4th. Piper Sandler set a $88.00 price objective on shares of Colgate-Palmolive and gave the stock an “overweight” rating in a research note on Tuesday, January 6th. Finally, Wells Fargo & Company set a $86.00 target price on shares of Colgate-Palmolive and gave the company an “equal weight” rating in a research report on Tuesday. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.44.

Colgate-Palmolive Trading Up 0.2%

NYSE CL opened at $84.49 on Friday. The stock has a market cap of $68.10 billion, a PE ratio of 23.67, a PEG ratio of 5.73 and a beta of 0.30. Colgate-Palmolive has a 12 month low of $74.54 and a 12 month high of $100.18. The company’s 50-day moving average price is $79.39 and its 200-day moving average price is $81.74. The company has a current ratio of 0.93, a quick ratio of 0.60 and a debt-to-equity ratio of 5.90.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.02. The company had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.17 billion. Colgate-Palmolive had a net margin of 14.47% and a return on equity of 333.39%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.91 EPS. Equities research analysts forecast that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Cidel Asset Management Inc. increased its holdings in shares of Colgate-Palmolive by 13.6% in the second quarter. Cidel Asset Management Inc. now owns 329,060 shares of the company’s stock valued at $29,912,000 after purchasing an additional 39,413 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in Colgate-Palmolive by 3.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 422,292 shares of the company’s stock valued at $33,758,000 after buying an additional 16,017 shares in the last quarter. Vanguard Group Inc. grew its holdings in Colgate-Palmolive by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock valued at $7,522,129,000 after buying an additional 993,432 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Colgate-Palmolive by 18.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 30,273 shares of the company’s stock worth $2,752,000 after acquiring an additional 4,738 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Colgate-Palmolive by 17.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 188,496 shares of the company’s stock worth $15,068,000 after acquiring an additional 27,943 shares during the period. Institutional investors own 80.41% of the company’s stock.

About Colgate-Palmolive

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.