TD Cowen Raises Colgate-Palmolive (NYSE:CL) Price Target to $115.00

Colgate-Palmolive (NYSE:CL) had its price objective upped by TD Cowen from $110.00 to $115.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts also recently commented on CL. Citigroup raised their target price on Colgate-Palmolive from $103.00 to $112.00 and gave the company a buy rating in a report on Wednesday, July 10th. Barclays raised their target price on Colgate-Palmolive from $91.00 to $96.00 and gave the company an equal weight rating in a report on Monday, July 29th. BNP Paribas initiated coverage on Colgate-Palmolive in a report on Monday, June 24th. They set an outperform rating and a $109.00 target price on the stock. Evercore ISI lifted their price objective on Colgate-Palmolive from $100.00 to $106.00 and gave the stock an outperform rating in a report on Thursday, July 18th. Finally, HSBC restated a hold rating on shares of Colgate-Palmolive in a report on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $101.11.

Colgate-Palmolive Stock Performance

NYSE CL opened at $102.82 on Tuesday. The firm has a market capitalization of $84.01 billion, a P/E ratio of 32.54, a P/E/G ratio of 3.48 and a beta of 0.39. Colgate-Palmolive has a 1-year low of $67.62 and a 1-year high of $103.35. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.28. The business’s 50-day simple moving average is $96.49 and its 200-day simple moving average is $90.76.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, July 26th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5 billion. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.77 EPS. Equities analysts predict that Colgate-Palmolive will post 3.57 EPS for the current year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $2.00 annualized dividend and a dividend yield of 1.95%. Colgate-Palmolive’s payout ratio is 63.29%.

Insider Activity at Colgate-Palmolive

In related news, insider Sally Massey sold 12,226 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the completion of the transaction, the insider now owns 13,924 shares in the company, valued at approximately $1,309,691.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Sally Massey sold 12,226 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the completion of the transaction, the insider now owns 13,924 shares in the company, valued at approximately $1,309,691.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John W. Kooyman sold 3,497 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total value of $326,864.59. Following the transaction, the insider now owns 3,181 shares of the company’s stock, valued at approximately $297,328.07. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Colgate-Palmolive by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 79,894,344 shares of the company’s stock valued at $6,368,378,000 after purchasing an additional 416,853 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Colgate-Palmolive by 27.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock valued at $3,698,096,000 after buying an additional 8,933,912 shares during the period. Norges Bank acquired a new position in Colgate-Palmolive during the 4th quarter valued at about $731,843,000. GUARDCAP ASSET MANAGEMENT Ltd increased its stake in Colgate-Palmolive by 4.1% during the 1st quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 6,987,454 shares of the company’s stock valued at $629,220,000 after buying an additional 278,150 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Colgate-Palmolive by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,426,430 shares of the company’s stock valued at $352,824,000 after buying an additional 77,679 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Company Profile

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.