Colgate-Palmolive (NYSE:CL) Given New $87.00 Price Target at Barclays

Colgate-Palmolive (NYSE:CL) had its price objective raised by Barclays from $80.00 to $87.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other equities research analysts also recently issued reports on CL. Royal Bank Of Canada reiterated an “outperform” rating and set a $102.00 price target on shares of Colgate-Palmolive in a report on Monday, May 4th. Rothschild & Co Redburn set a $100.00 target price on shares of Colgate-Palmolive and gave the company a “buy” rating in a research note on Tuesday, April 21st. Citigroup increased their target price on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Weiss Ratings upgraded shares of Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 4th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Colgate-Palmolive in a report on Monday, May 4th. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Colgate-Palmolive has an average rating of “Moderate Buy” and an average price target of $97.82.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $90.48 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. The firm has a market capitalization of $72.40 billion, a P/E ratio of 35.21, a P/E/G ratio of 4.84 and a beta of 0.33. The company has a fifty day moving average of $90.62 and a 200-day moving average of $88.77. Colgate-Palmolive has a twelve month low of $74.54 and a twelve month high of $99.33.

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

Colgate-Palmolive Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. Colgate-Palmolive’s dividend payout ratio is 82.49%.

Institutional Investors Weigh In On Colgate-Palmolive

Hedge funds and other institutional investors have recently modified their holdings of the stock. Kemnay Advisory Services Inc. purchased a new stake in Colgate-Palmolive during the 4th quarter valued at $25,000. CBIZ Investment Advisory Services LLC raised its holdings in shares of Colgate-Palmolive by 86.7% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after acquiring an additional 150 shares in the last quarter. TD Capital Management LLC lifted its stake 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 acquiring an additional 124 shares during the period. Triumph Capital Management boosted its holdings in Colgate-Palmolive by 62.9% in the fourth quarter. Triumph Capital Management now owns 329 shares of the company’s stock valued at $26,000 after acquiring an additional 127 shares in the last quarter. Finally, Jessup Wealth Management Inc purchased a new position in Colgate-Palmolive during the 4th quarter valued at $26,000. Institutional investors 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.