Colgate-Palmolive (NYSE:CL) Price Target Raised to $104.00

Colgate-Palmolive (NYSE:CL) had its price objective upped by JPMorgan Chase & Co. from $96.00 to $104.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities analysts also recently commented on the company. TD Cowen restated a “hold” rating and issued a $85.00 price objective on shares of Colgate-Palmolive in a report on Tuesday, March 31st. Morgan Stanley reiterated an “overweight” rating on shares of Colgate-Palmolive in a research note on Monday, May 4th. 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. Barclays raised their price target on shares of Colgate-Palmolive from $79.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $99.00 price objective on shares of Colgate-Palmolive in a research note on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $97.41.

Colgate-Palmolive Price Performance

CL opened at $92.84 on Thursday. The stock has a market cap of $74.29 billion, a price-to-earnings ratio of 36.12, a PEG ratio of 4.90 and a beta of 0.33. Colgate-Palmolive has a 1 year low of $74.54 and a 1 year high of $99.33. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33. The stock has a fifty day moving average price of $90.46 and a 200 day moving average price of $88.54.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, May 1st. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The firm had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. Analysts forecast that Colgate-Palmolive will post 3.81 EPS for the current fiscal 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 given a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. Colgate-Palmolive’s dividend payout ratio is presently 82.49%.

Hedge Funds Weigh In On Colgate-Palmolive

Institutional investors have recently modified their holdings of the company. Teacher Retirement System of Texas grew its position in shares of Colgate-Palmolive by 35.3% in the fourth quarter. Teacher Retirement System of Texas now owns 469,624 shares of the company’s stock valued at $37,110,000 after purchasing an additional 122,634 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Colgate-Palmolive by 114.2% during the 4th quarter. GAMMA Investing LLC now owns 23,329 shares of the company’s stock worth $1,843,000 after purchasing an additional 12,437 shares during the last quarter. Avior Wealth Management LLC acquired a new position in shares of Colgate-Palmolive during the 4th quarter worth about $1,135,000. Flputnam Investment Management Co. boosted its stake in Colgate-Palmolive by 7.4% during the 4th quarter. Flputnam Investment Management Co. now owns 200,972 shares of the company’s stock valued at $15,881,000 after purchasing an additional 13,804 shares during the period. Finally, AIA Group Ltd bought a new stake in Colgate-Palmolive during the 3rd quarter valued at approximately $2,113,000. Institutional investors own 80.41% of the company’s stock.

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.