Colgate-Palmolive (NYSE:CL) Price Target Raised to $93.00

Colgate-Palmolive (NYSE:CL) had its price target boosted by JPMorgan Chase & Co. from $88.00 to $93.00 in a report issued on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other brokerages have also recently commented on CL. Piper Sandler set a $88.00 price objective on shares of Colgate-Palmolive and gave the company an “overweight” rating in a research note on Tuesday, January 6th. Evercore ISI reduced their price target on shares of Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Deutsche Bank Aktiengesellschaft set a $86.00 price target on shares of Colgate-Palmolive in a research report on Friday, October 10th. TD Cowen cut their price objective on Colgate-Palmolive from $90.00 to $86.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Finally, The Goldman Sachs Group lowered their target price on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, October 2nd. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Colgate-Palmolive has a consensus rating of “Moderate Buy” and an average price target of $89.44.

Colgate-Palmolive Stock Performance

CL opened at $84.49 on Friday. Colgate-Palmolive has a 1-year low of $74.54 and a 1-year high of $100.18. The stock has a market cap of $68.10 billion, a P/E ratio of 23.67, a P/E/G ratio of 5.73 and a beta of 0.30. The stock’s 50 day simple moving average is $79.39 and its 200 day simple moving average is $81.67. The company has a debt-to-equity ratio of 5.90, a current ratio of 0.93 and a quick ratio of 0.60.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. The company had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.17 billion. Colgate-Palmolive had a return on equity of 333.39% and a net margin of 14.47%.Colgate-Palmolive’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share. As a group, equities analysts anticipate that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Wednesday, January 21st will be given a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.5%. Colgate-Palmolive’s payout ratio is currently 58.26%.

Hedge Funds Weigh In On Colgate-Palmolive

Several large investors have recently added to or reduced their stakes in the business. Westside Investment Management Inc. increased its stake in shares of Colgate-Palmolive by 85.5% during the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after acquiring an additional 130 shares during the last quarter. Copia Wealth Management purchased a new stake in Colgate-Palmolive in the third quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC grew its holdings in Colgate-Palmolive by 86.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock valued at $30,000 after purchasing an additional 155 shares during the period. Cloud Capital Management LLC acquired a new position in Colgate-Palmolive during the third quarter worth approximately $30,000. Finally, Global Wealth Strategies & Associates raised its stake in Colgate-Palmolive by 300.0% during the fourth quarter. Global Wealth Strategies & Associates now owns 400 shares of the company’s stock worth $32,000 after purchasing an additional 300 shares during the period. 80.41% of the stock is currently 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.