JPMorgan Chase & Co. Increases Colgate-Palmolive (NYSE:CL) Price Target to $104.00

Colgate-Palmolive (NYSE:CL) had its price objective raised by investment analysts at JPMorgan Chase & Co. from $96.00 to $104.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 12.02% from the company’s previous close.

Several other brokerages also recently commented on CL. Citigroup upped their price target on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday. Royal Bank Of Canada reissued an “outperform” rating and set a $102.00 target price on shares of Colgate-Palmolive in a research note on Monday, May 4th. Barclays increased their target price on Colgate-Palmolive from $79.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th. Rothschild & Co Redburn set a $100.00 target price on Colgate-Palmolive and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Colgate-Palmolive in a report on Friday, May 1st. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.41.

Colgate-Palmolive Trading Down 1.3%

Shares of CL opened at $92.84 on Thursday. The business’s 50-day moving average price is $90.46 and its 200 day moving average price is $88.54. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33. The stock has a market capitalization of $74.29 billion, a P/E ratio of 36.12, a P/E/G ratio of 4.96 and a beta of 0.33. Colgate-Palmolive has a 1-year low of $74.54 and a 1-year high of $99.33.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same period in the prior year, the firm earned $0.91 earnings per share. The business’s quarterly revenue was up 8.4% on a year-over-year basis. Analysts expect that Colgate-Palmolive will post 3.81 earnings per share for the current year.

Institutional Investors Weigh In On Colgate-Palmolive

A number of institutional investors have recently modified their holdings of CL. Vanguard Group Inc. boosted its position in Colgate-Palmolive by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company’s stock valued at $6,633,570,000 after purchasing an additional 1,026,985 shares during the last quarter. Geode Capital Management LLC grew its stake in Colgate-Palmolive by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company’s stock valued at $1,754,657,000 after purchasing an additional 304,426 shares in the last quarter. Morgan Stanley increased its position in Colgate-Palmolive by 1.7% in the 4th quarter. Morgan Stanley now owns 19,246,217 shares of the company’s stock worth $1,520,836,000 after purchasing an additional 323,367 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Colgate-Palmolive by 172.5% during the 1st quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock worth $1,067,211,000 after purchasing an additional 7,927,238 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Colgate-Palmolive during the 4th quarter worth about $861,670,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

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.