Brokerages Set Colgate-Palmolive Company (NYSE:CL) Target Price at $96.59

Shares of Colgate-Palmolive Company (NYSE:CL) have earned an average recommendation of “Moderate Buy” from the nineteen research firms that are currently covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $97.4118.

CL has been the subject of a number of recent research reports. Bank of America reduced their target price on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, April 10th. Rothschild & Co Redburn set a $100.00 price objective on shares of Colgate-Palmolive and gave the stock a “buy” rating in a research note on Tuesday, April 21st. The Goldman Sachs Group restated a “buy” rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. Citigroup raised their target price on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Colgate-Palmolive in a research note on Monday, May 4th.

Institutional Trading of Colgate-Palmolive

Several large investors have recently modified their holdings of CL. Norges Bank acquired a new position in Colgate-Palmolive in the fourth quarter valued at about $861,670,000. Bank of New York Mellon Corp grew its stake in Colgate-Palmolive by 172.5% during the first quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock worth $1,067,211,000 after buying an additional 7,927,238 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Colgate-Palmolive by 8,040.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock worth $380,666,000 after buying an additional 4,598,789 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in Colgate-Palmolive in the 4th quarter valued at about $236,682,000. Finally, Deutsche Bank AG increased its holdings in Colgate-Palmolive by 33.9% in the 4th quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock valued at $857,040,000 after buying an additional 2,746,920 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

CL opened at $92.84 on Thursday. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. Colgate-Palmolive has a 12-month low of $74.54 and a 12-month high of $99.33. The business has a 50 day moving average of $90.46 and a 200-day moving average of $88.54. The stock has a market cap of $74.29 billion, a price-to-earnings ratio of 36.12, a PEG ratio of 4.90 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The business had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same period last year, the firm posted $0.91 EPS. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities research analysts expect that Colgate-Palmolive will post 3.81 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, July 20th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Monday, July 20th. Colgate-Palmolive’s dividend payout ratio is presently 82.49%.

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.