Colgate-Palmolive (NYSE:CL) Upgraded to Buy at Wall Street Zen

Colgate-Palmolive (NYSE:CL) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

A number of other brokerages have also recently weighed in on CL. Morgan Stanley raised their target price on shares of Colgate-Palmolive from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Barclays raised their price objective on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 3rd. TD Cowen reaffirmed a “buy” rating on shares of Colgate-Palmolive in a research report on Monday, February 2nd. Rothschild & Co Redburn set a $93.00 price target on Colgate-Palmolive in a research report on Friday, February 13th. Finally, UBS Group boosted their price objective on Colgate-Palmolive from $90.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, January 14th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus price target of $94.75.

Colgate-Palmolive Price Performance

NYSE:CL opened at $85.14 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.83 and a debt-to-equity ratio of 18.82. The business’s 50-day moving average price is $91.01 and its 200 day moving average price is $83.37. Colgate-Palmolive has a 52-week low of $74.54 and a 52-week high of $99.33. The firm has a market cap of $68.62 billion, a P/E ratio of 32.49, a PEG ratio of 3.83 and a beta of 0.28.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, January 30th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. The company had revenue of $5.23 billion during the quarter, compared to the consensus estimate of $5.13 billion. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. Colgate-Palmolive’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.91 EPS. As a group, sell-side analysts predict that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, insider John Hazlin sold 20,989 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $94.25, for a total value of $1,978,213.25. Following the transaction, the insider owned 17,645 shares in the company, valued at approximately $1,663,041.25. This represents a 54.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sally Massey sold 15,851 shares of the stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $95.03, for a total transaction of $1,506,320.53. Following the completion of the sale, the insider owned 13,751 shares of the company’s stock, valued at approximately $1,306,757.53. The trade was a 53.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 184,683 shares of company stock valued at $17,486,693 over the last ninety days. 0.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On Colgate-Palmolive

A number of hedge funds have recently modified their holdings of CL. ProShare Advisors LLC lifted its stake in shares of Colgate-Palmolive by 11.0% in the 3rd quarter. ProShare Advisors LLC now owns 2,047,542 shares of the company’s stock valued at $163,681,000 after purchasing an additional 202,379 shares during the last quarter. Providence Capital Advisors LLC acquired a new stake in shares of Colgate-Palmolive in the third quarter worth about $5,373,000. Asset Management One Co. Ltd. boosted its stake in shares of Colgate-Palmolive by 3.9% during the 3rd quarter. Asset Management One Co. Ltd. now owns 422,292 shares of the company’s stock worth $33,758,000 after acquiring an additional 16,017 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Colgate-Palmolive by 43.7% during the 3rd quarter. Citigroup Inc. now owns 1,346,590 shares of the company’s stock valued at $107,646,000 after acquiring an additional 409,710 shares during the last quarter. Finally, TD Waterhouse Canada Inc. raised its stake in shares of Colgate-Palmolive by 248.5% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 87,410 shares of the company’s stock valued at $6,909,000 after acquiring an additional 62,327 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

About Colgate-Palmolive

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.