Barclays Raises Colgate-Palmolive (NYSE:CL) Price Target to $91.00

Colgate-Palmolive (NYSE:CL) had its price objective boosted by Barclays from $85.00 to $91.00 in a report issued on Friday morning, Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other equities research analysts also recently weighed in on the company. Royal Bank of Canada upped their price target on Colgate-Palmolive from $88.00 to $95.00 and gave the stock a sector perform rating in a report on Monday, April 29th. Bank of America raised their target price on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the company a buy rating in a report on Wednesday, July 10th. Wells Fargo & Company boosted their price target on shares of Colgate-Palmolive from $92.00 to $97.00 and gave the stock an equal weight rating in a report on Wednesday, July 10th. Morgan Stanley lifted their price objective on shares of Colgate-Palmolive from $101.00 to $103.00 and gave the stock an overweight rating in a research report on Tuesday, May 28th. Finally, BNP Paribas began coverage on Colgate-Palmolive in a report on Monday, June 24th. They issued an outperform rating and a $109.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $96.94.

Colgate-Palmolive Stock Performance

NYSE CL opened at $98.08 on Friday. The company has a market cap of $80.47 billion, a P/E ratio of 31.04, a P/E/G ratio of 3.54 and a beta of 0.39. Colgate-Palmolive has a 1-year low of $67.62 and a 1-year high of $99.63. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.06 and a quick ratio of 0.70. The stock has a 50-day moving average of $95.53 and a two-hundred day moving average of $89.60.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, April 26th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04. The firm had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.96 billion. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.73 EPS. As a group, analysts anticipate that Colgate-Palmolive will post 3.54 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $2.00 dividend on an annualized basis and a yield of 2.04%. Colgate-Palmolive’s dividend payout ratio is presently 63.29%.

Insider Activity

In related news, insider John W. Kooyman sold 3,497 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total transaction of $326,864.59. Following the transaction, the insider now owns 3,181 shares of the company’s stock, valued at $297,328.07. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Sally Massey sold 12,226 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $94.06, for a total value of $1,149,977.56. Following the completion of the sale, the insider now owns 13,924 shares in the company, valued at approximately $1,309,691.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John W. Kooyman sold 3,497 shares of Colgate-Palmolive stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total transaction of $326,864.59. Following the completion of the sale, the insider now directly owns 3,181 shares in the company, valued at approximately $297,328.07. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Colgate-Palmolive

A number of hedge funds have recently added to or reduced their stakes in CL. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Colgate-Palmolive during the 2nd quarter worth approximately $25,000. Union Savings Bank raised its position in Colgate-Palmolive by 76.6% in the fourth quarter. Union Savings Bank now owns 309 shares of the company’s stock worth $25,000 after acquiring an additional 134 shares in the last quarter. PSI Advisors LLC lifted its holdings in Colgate-Palmolive by 4,971.4% in the first quarter. PSI Advisors LLC now owns 355 shares of the company’s stock valued at $32,000 after acquiring an additional 348 shares during the period. Continuum Advisory LLC boosted its position in shares of Colgate-Palmolive by 46.5% during the 2nd quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after purchasing an additional 125 shares in the last quarter. Finally, Avion Wealth grew its stake in shares of Colgate-Palmolive by 78.1% during the 4th quarter. Avion Wealth now owns 399 shares of the company’s stock worth $32,000 after purchasing an additional 175 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.