Colgate-Palmolive (NYSE:CL) Price Target Lowered to $98.00 at UBS Group

Colgate-Palmolive (NYSE:CL) had its price objective reduced by UBS Group from $100.00 to $98.00 in a report issued on Tuesday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

A number of other brokerages have also recently issued reports on CL. Wall Street Zen cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Barclays raised their target price on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a report on Wednesday, January 21st. JPMorgan Chase & Co. raised their target price on shares of Colgate-Palmolive from $93.00 to $97.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Finally, Wells Fargo & Company raised their target price on shares of Colgate-Palmolive from $86.00 to $94.00 and gave the stock an “equal weight” rating in a report on Sunday, February 1st. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.50.

Colgate-Palmolive Stock Down 1.6%

NYSE:CL opened at $83.16 on Tuesday. The company has a market capitalization of $66.72 billion, a price-to-earnings ratio of 31.74, a price-to-earnings-growth ratio of 3.91 and a beta of 0.34. Colgate-Palmolive has a one year low of $74.54 and a one year high of $99.33. The stock has a 50-day simple moving average of $91.03 and a 200 day simple moving average of $83.50. The company has a debt-to-equity ratio of 18.82, a quick ratio of 0.54 and a current ratio of 0.83.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The firm had revenue of $5.23 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same quarter last year, the company posted $0.91 earnings per share. Colgate-Palmolive’s revenue was up 5.8% on a year-over-year basis. Sell-side analysts predict that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, April 20th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, April 20th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a yield of 2.5%. Colgate-Palmolive’s dividend payout ratio is presently 79.39%.

Insider Transactions at Colgate-Palmolive

In related news, COO Panagiotis Tsourapas sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $97.81, for a total transaction of $1,467,150.00. Following the sale, the chief operating officer owned 10,415 shares of the company’s stock, valued at $1,018,691.15. The trade was a 59.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stanley J. Sutula III sold 97,843 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $94.27, for a total value of $9,223,659.61. Following the sale, the chief financial officer directly owned 55,310 shares in the company, valued at approximately $5,214,073.70. The trade was a 63.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 184,683 shares of company stock worth $17,486,693 in the last three months. 0.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Colgate-Palmolive

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. acquired a new position in Colgate-Palmolive in the fourth quarter worth approximately $25,000. CBIZ Investment Advisory Services LLC grew its position in Colgate-Palmolive by 86.7% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock worth $26,000 after buying an additional 150 shares during the last quarter. TD Capital Management LLC grew its position in Colgate-Palmolive by 61.4% in the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after buying an additional 124 shares during the last quarter. Triumph Capital Management grew its position in Colgate-Palmolive by 62.9% in the fourth quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after buying an additional 127 shares during the last quarter. Finally, Jessup Wealth Management Inc acquired a new position in Colgate-Palmolive in the fourth quarter worth approximately $26,000. 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.