Colgate-Palmolive (NYSE:CL) Price Target Raised to $106.00

Colgate-Palmolive (NYSE:CL) had its price objective hoisted by UBS Group from $100.00 to $106.00 in a report published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts also recently issued research reports about the stock. Sanford C. Bernstein assumed coverage on shares of Colgate-Palmolive in a report on Thursday, June 11th. They set a “market perform” rating and a $96.00 price target for the company. Piper Sandler lifted their price objective on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Bank of America decreased their target price on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, April 10th. The Goldman Sachs Group restated a “buy” rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. Finally, Weiss Ratings upgraded Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.41.

Colgate-Palmolive Price Performance

CL opened at $92.84 on Thursday. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. The company’s 50-day moving average price is $90.46 and its 200 day moving average price is $88.54. Colgate-Palmolive has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The firm has a market cap of $74.29 billion, a price-to-earnings ratio of 36.12, a price-to-earnings-growth ratio of 4.90 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, May 1st. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. The company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The business’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.91 earnings per share. As a group, sell-side analysts expect that Colgate-Palmolive will post 3.81 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 annualized dividend and a yield of 2.3%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 82.49%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CL. HighPoint Advisor Group LLC raised its stake in Colgate-Palmolive by 0.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 15,877 shares of the company’s stock valued at $1,255,000 after purchasing an additional 109 shares during the period. Clear Harbor Asset Management LLC lifted its holdings in shares of Colgate-Palmolive by 2.6% in the fourth quarter. Clear Harbor Asset Management LLC now owns 4,503 shares of the company’s stock valued at $356,000 after purchasing an additional 113 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its position in shares of Colgate-Palmolive by 0.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,506 shares of the company’s stock worth $1,225,000 after buying an additional 114 shares during the period. Cooper Financial Group boosted its position in shares of Colgate-Palmolive by 4.0% in the second quarter. Cooper Financial Group now owns 2,947 shares of the company’s stock worth $270,000 after buying an additional 114 shares during the period. Finally, Gould Capital LLC grew its holdings in shares of Colgate-Palmolive by 38.7% during the first quarter. Gould Capital LLC now owns 412 shares of the company’s stock valued at $35,000 after buying an additional 115 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors.

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.