Colgate-Palmolive (NYSE:CL) PT Raised to $84.00

Colgate-Palmolive (NYSE:CL) had its price target boosted by Barclays from $82.00 to $84.00 in a research note published on Friday, Benzinga reports. The firm currently has an equal weight rating on the stock.

CL has been the subject of a number of other research reports. Raymond James raised shares of Colgate-Palmolive from a market perform rating to an outperform rating and set a $91.00 target price for the company in a report on Monday, January 29th. Wells Fargo & Company upped their target price on shares of Colgate-Palmolive from $80.00 to $88.00 and gave the stock an equal weight rating in a report on Monday, January 29th. StockNews.com lowered shares of Colgate-Palmolive from a strong-buy rating to a buy rating in a report on Tuesday, February 20th. Morgan Stanley upped their price objective on shares of Colgate-Palmolive from $85.00 to $93.00 and gave the company an overweight rating in a report on Monday, January 29th. Finally, Evercore ISI upped their price objective on shares of Colgate-Palmolive from $90.00 to $96.00 and gave the company an outperform rating in a report on Monday, April 8th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $88.56.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $86.17 on Friday. Colgate-Palmolive has a fifty-two week low of $67.62 and a fifty-two week high of $90.37. The stock has a market capitalization of $70.83 billion, a PE ratio of 31.00, a P/E/G ratio of 3.26 and a beta of 0.42. The company has a fifty day moving average of $86.87 and a two-hundred day moving average of $80.48. The company has a debt-to-equity ratio of 8.59, a quick ratio of 0.71 and a current ratio of 1.11.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, January 26th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Colgate-Palmolive had a net margin of 11.82% and a return on equity of 509.75%. The business had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same quarter in the prior year, the firm earned $0.77 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, research analysts forecast that Colgate-Palmolive will post 3.49 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 22nd will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, April 19th. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.48. Colgate-Palmolive’s payout ratio is currently 69.06%.

Insider Activity at Colgate-Palmolive

In related news, CEO Noel R. Wallace sold 69,948 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $84.22, for a total value of $5,891,020.56. Following the sale, the chief executive officer now owns 286,881 shares in the company, valued at approximately $24,161,117.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Noel R. Wallace sold 69,948 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $84.22, for a total value of $5,891,020.56. Following the sale, the chief executive officer now owns 286,881 shares in the company, valued at approximately $24,161,117.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director C Martin Harris sold 2,760 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $84.50, for a total value of $233,220.00. Following the transaction, the director now directly owns 19,272 shares of the company’s stock, valued at $1,628,484. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 232,371 shares of company stock worth $19,505,099. 0.37% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Moneta Group Investment Advisors LLC boosted its position in shares of Colgate-Palmolive by 90,253.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,974,451 shares of the company’s stock worth $1,258,627,000 after acquiring an additional 15,956,771 shares in the last quarter. Norges Bank acquired a new position in shares of Colgate-Palmolive during the 4th quarter worth about $731,843,000. Price T Rowe Associates Inc. MD boosted its position in shares of Colgate-Palmolive by 16.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,133,218 shares of the company’s stock worth $2,561,340,000 after acquiring an additional 4,625,472 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Colgate-Palmolive by 151.6% during the 1st quarter. Renaissance Technologies LLC now owns 5,688,786 shares of the company’s stock worth $431,381,000 after acquiring an additional 3,427,400 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of Colgate-Palmolive by 41.7% during the 4th quarter. Morgan Stanley now owns 11,370,549 shares of the company’s stock worth $895,886,000 after acquiring an additional 3,345,297 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.