JPMorgan Chase & Co. Increases Colgate-Palmolive (NYSE:CL) Price Target to $104.00

Colgate-Palmolive (NYSE:CL) had its price objective upped by investment analysts at JPMorgan Chase & Co. from $96.00 to $104.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 10.47% from the company’s current price.

CL has been the topic of several other reports. Wall Street Zen lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $99.00 price target on shares of Colgate-Palmolive in a research note on Monday, May 4th. Sanford C. Bernstein assumed coverage on shares of Colgate-Palmolive in a research note on Thursday, June 11th. They set a “market perform” rating and a $96.00 price target on the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a $102.00 price objective on shares of Colgate-Palmolive in a research note on Monday, May 4th. Finally, Piper Sandler upped their target price on Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Twelve research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $97.41.

Colgate-Palmolive Stock Up 2.9%

Shares of CL stock traded up $2.67 during mid-day trading on Thursday, hitting $94.14. 1,568,225 shares of the stock traded hands, compared to its average volume of 6,093,405. Colgate-Palmolive has a 52-week low of $74.54 and a 52-week high of $99.33. The stock has a market cap of $75.33 billion, a P/E ratio of 36.62, a P/E/G ratio of 4.80 and a beta of 0.33. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67. The stock’s fifty day moving average is $90.22 and its two-hundred day moving average is $88.41.

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

Institutional Investors Weigh In On Colgate-Palmolive

Several hedge funds have recently modified their holdings of CL. Teacher Retirement System of Texas boosted its stake in shares of Colgate-Palmolive by 35.3% during the 4th quarter. Teacher Retirement System of Texas now owns 469,624 shares of the company’s stock worth $37,110,000 after acquiring an additional 122,634 shares in the last quarter. GAMMA Investing LLC increased its stake in Colgate-Palmolive by 114.2% in the 4th quarter. GAMMA Investing LLC now owns 23,329 shares of the company’s stock valued at $1,843,000 after purchasing an additional 12,437 shares in the last quarter. Avior Wealth Management LLC acquired a new position in Colgate-Palmolive during the fourth quarter worth $1,135,000. Flputnam Investment Management Co. raised its holdings in Colgate-Palmolive by 7.4% during the fourth quarter. Flputnam Investment Management Co. now owns 200,972 shares of the company’s stock worth $15,881,000 after purchasing an additional 13,804 shares during the last quarter. Finally, AIA Group Ltd purchased a new stake in Colgate-Palmolive during the third quarter worth $2,113,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

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.