Colgate-Palmolive (NYSE:CL) Given New $85.00 Price Target at Barclays

Colgate-Palmolive (NYSE:CL) had its price objective lifted by Barclays from $84.00 to $85.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective indicates a potential downside of 6.07% from the stock’s previous close.

Several other brokerages have also issued reports on CL. Bank of America lifted their target price on shares of Colgate-Palmolive from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday. Citigroup increased their price objective on Colgate-Palmolive from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. TheStreet raised shares of Colgate-Palmolive from a “c+” rating to a “b+” rating in a research note on Friday, January 26th. Morgan Stanley raised their price target on shares of Colgate-Palmolive from $85.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, January 29th. Finally, Stifel Nicolaus increased their price objective on shares of Colgate-Palmolive from $94.00 to $95.00 and gave the company a “buy” rating in a report on Monday. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $91.44.

Colgate-Palmolive Stock Performance

CL opened at $90.49 on Tuesday. The firm has a market capitalization of $74.38 billion, a PE ratio of 28.64, a P/E/G ratio of 3.42 and a beta of 0.42. The firm has a 50 day moving average of $87.80 and a two-hundred day moving average of $81.77. Colgate-Palmolive has a 12-month low of $67.62 and a 12-month high of $92.25. The company has a current ratio of 0.42, a quick ratio of 0.28 and a debt-to-equity ratio of 8.59.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, April 26th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The company had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.96 billion. During the same quarter last year, the business earned $0.73 earnings per share. The firm’s revenue was up 6.2% on a year-over-year basis. On average, analysts anticipate that Colgate-Palmolive will post 3.5 EPS for the current year.

Insider Activity

In other news, Director C Martin Harris sold 2,760 shares of Colgate-Palmolive stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $84.50, for a total value of $233,220.00. Following the completion of the transaction, the director now owns 19,272 shares in the company, valued at approximately $1,628,484. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director C Martin Harris sold 2,760 shares of the company’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $84.50, for a total transaction of $233,220.00. Following the completion of the transaction, the director now directly owns 19,272 shares of the company’s stock, valued at approximately $1,628,484. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Gregory Malcolm sold 8,930 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $85.35, for a total transaction of $762,175.50. Following the completion of the transaction, the executive vice president now owns 8,043 shares in the company, valued at $686,470.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 232,371 shares of company stock worth $19,505,099. Corporate insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. OFI Invest Asset Management acquired a new position in Colgate-Palmolive during the third quarter worth $25,000. Union Savings Bank grew its holdings in shares of Colgate-Palmolive by 76.6% in the 4th quarter. Union Savings Bank now owns 309 shares of the company’s stock worth $25,000 after acquiring an additional 134 shares during the period. Avion Wealth increased its stake in Colgate-Palmolive by 78.1% in the 4th quarter. Avion Wealth now owns 399 shares of the company’s stock valued at $32,000 after purchasing an additional 175 shares in the last quarter. Atlantic Edge Private Wealth Management LLC acquired a new position in Colgate-Palmolive during the fourth quarter worth $32,000. Finally, PSI Advisors LLC boosted its position in Colgate-Palmolive by 4,971.4% during the first quarter. PSI Advisors LLC now owns 355 shares of the company’s stock worth $32,000 after purchasing an additional 348 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

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.