Colgate-Palmolive (NYSE:CL – Free Report) had its price target boosted by Morgan Stanley from $104.00 to $111.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has an overweight rating on the stock.
CL has been the topic of several other reports. Wells Fargo & Company upped their target price on Colgate-Palmolive from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Monday. BNP Paribas Exane reduced their price target on Colgate-Palmolive from $101.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, September 28th. Piper Sandler lowered their price target on Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, September 21st. Bank of America increased their price objective on Colgate-Palmolive from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Monday. Finally, JPMorgan Chase & Co. dropped their price objective on Colgate-Palmolive from $104.00 to $102.00 and set an “overweight” rating on the stock in a report on Monday. Thirteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $101.22.
Colgate-Palmolive Trading Up 3.2%
Colgate-Palmolive stock opened at $98.65 on Monday. Colgate-Palmolive has a 12 month low of $75.96 and a 12 month high of $99.69. The company has a quick ratio of 0.30, a current ratio of 0.96 and a debt-to-equity ratio of 11.23. The stock has a market cap of $78.42 billion, a P/E ratio of 24.64, a P/E/G ratio of 4.34 and a beta of 0.31. The company’s fifty day simple moving average is $89.88 and its 200-day simple moving average is $89.85.
Colgate-Palmolive (NYSE:CL – Get Free Report) last announced its quarterly earnings data on Friday, October 30th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. The business had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.34 billion. Colgate-Palmolive had a return on equity of 607.88% and a net margin of 9.65%. Colgate-Palmolive’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the company earned $0.91 earnings per share. As a group, sell-side analysts forecast that Colgate-Palmolive will post 3.91 EPS for the current fiscal year.
Colgate-Palmolive Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 20th will be issued a $0.53 dividend. The ex-dividend date is Tuesday, October 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.1%. Colgate-Palmolive’s dividend payout ratio is currently 83.14%.
Insider Buying and Selling
In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 10,000 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $92.05, for a total transaction of $920,500.00. Following the transaction, the chief operating officer directly owned 64,901 shares of the company’s stock, valued at $5,974,137.05. This represents a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.43% of the stock is owned by insiders.
Institutional Trading of Colgate-Palmolive
Institutional investors and hedge funds have recently made changes to their positions in the stock. Cooper Financial Group lifted its holdings in Colgate-Palmolive by 4.0% in the 2nd quarter. Cooper Financial Group now owns 2,947 shares of the company’s stock worth $270,000 after purchasing an additional 114 shares during the last quarter. Gould Capital LLC boosted its position in Colgate-Palmolive by 38.7% during the first quarter. Gould Capital LLC now owns 412 shares of the company’s stock worth $35,000 after purchasing an additional 115 shares during the period. Redhawk Wealth Advisors Inc. grew its holdings in Colgate-Palmolive by 2.8% during the second quarter. Redhawk Wealth Advisors Inc. now owns 4,326 shares of the company’s stock valued at $397,000 after purchasing an additional 118 shares during the last quarter. SVB Wealth LLC grew its holdings in Colgate-Palmolive by 1.4% during the second quarter. SVB Wealth LLC now owns 8,767 shares of the company’s stock valued at $804,000 after purchasing an additional 119 shares during the last quarter. Finally, Sowell Financial Services LLC grew its holdings in Colgate-Palmolive by 2.1% during the third quarter. Sowell Financial Services LLC now owns 5,737 shares of the company’s stock valued at $490,000 after purchasing an additional 119 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.
Trending Headlines about Colgate-Palmolive
Here are the key news stories impacting Colgate-Palmolive this week:
- Positive Sentiment: Investors have favored Colgate-Palmolive and other Dividend Kings amid political uncertainty, seeking dependable earnings and dividends. The company’s recent quarterly results also showed resilience: earnings and revenue exceeded consensus estimates, and revenue grew year over year. Article: Dividend Kings hitting 52-week highs
- Positive Sentiment: Several firms delivered supportive signals, including price-target increases from Wells Fargo and RBC, a bullish appreciation outlook from Morgan Stanley, and an Outperform reaffirmation from BNP Paribas Exane. Article: Wells Fargo raises price target Article: Morgan Stanley outlook Article: BNP Paribas Exane reaffirms Outperform Article: RBC raises price target
- Positive Sentiment: Commentary also highlights Colgate-Palmolive’s pricing power to help protect earnings and dividends from inflation, as well as improving execution and a potentially attractive valuation. Article: Dividend stocks with pricing power Article: Improving execution and valuation
- Neutral Sentiment: Barclays raised its target but maintained an Equal Weight/Hold stance, indicating limited conviction that the shares will outperform from current levels. Article: Barclays remains a Hold
- Negative Sentiment: JPMorgan lowered its expectations for CL’s share price, a counterpoint to the recent target increases. Article: JPMorgan lowers price expectations
Colgate-Palmolive Company Profile
Colgate-Palmolive Company (NYSE: CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwash, liquid hand soap, body wash, deodorants, household cleaning products and pet food and treats.
The company markets well-known brands such as Colgate, Palmolive, elmex, meridol, Softsoap, Irish Spring, Ajax, Protex and Hill’s Science Diet. Colgate-Palmolive also provides veterinary and nutritional products through Hill’s Pet Nutrition, which serves pet owners and animal health professionals.
Founded in 1806 by William Colgate, the company developed from a soap and candle business into a diversified consumer goods manufacturer.
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