Research Analysts’ Recent Ratings Updates for Colgate-Palmolive (CL)

Several brokerages have updated their recommendations and price targets on shares of Colgate-Palmolive (NYSE: CL) in the last few weeks:

• 4/16/2024 – Colgate-Palmolive had its price target raised by analysts at Citigroup Inc. from $95.00 to $100.00. They now have a “buy” rating on the stock.
• 4/12/2024 – Colgate-Palmolive had its price target raised by analysts at Barclays PLC from $82.00 to $84.00. They now have an “equal weight” rating on the stock.
• 4/10/2024 – Colgate-Palmolive had its price target raised by analysts at Stifel Nicolaus from $89.00 to $94.00. They now have a “buy” rating on the stock.
• 4/8/2024 – Colgate-Palmolive had its price target raised by analysts at Evercore ISI from $90.00 to $96.00. They now have an “outperform” rating on the stock.
• 3/1/2024 – Colgate-Palmolive is now covered by analysts at The Goldman Sachs Group, Inc.. They set a “buy” rating and a $93.00 price target on the stock.

Colgate-Palmolive Stock Up 0.4 %

Shares of CL traded up $0.36 during midday trading on Monday, hitting $87.49. 361,648 shares of the company’s stock traded hands, compared to its average volume of 4,515,554. Colgate-Palmolive has a 1 year low of $67.62 and a 1 year high of $90.37. The firm’s fifty day moving average is $87.10 and its 200-day moving average is $80.93. The company has a current ratio of 1.11, a quick ratio of 0.71 and a debt-to-equity ratio of 8.59. The stock has a market capitalization of $71.92 billion, a price-to-earnings ratio of 31.47, a price-to-earnings-growth ratio of 3.27 and a beta of 0.42.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, January 26th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. The company had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.89 billion. Colgate-Palmolive had a return on equity of 509.75% and a net margin of 11.82%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the firm earned $0.77 EPS. As a group, sell-side analysts anticipate that Colgate-Palmolive will post 3.5 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 22nd will be given a dividend of $0.50 per share. The ex-dividend date is Friday, April 19th. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.29%. Colgate-Palmolive’s dividend payout ratio (DPR) is 71.94%.

Insider Buying and Selling

In related news, CEO Noel R. Wallace sold 69,948 shares of Colgate-Palmolive stock in a transaction dated 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 directly owns 286,881 shares in the company, valued at approximately $24,161,117.82. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director C Martin Harris sold 2,760 shares of Colgate-Palmolive stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $84.50, for a total transaction of $233,220.00. Following the sale, the director now owns 19,272 shares of the company’s stock, valued at approximately $1,628,484. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Noel R. Wallace sold 69,948 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $84.22, for a total transaction of $5,891,020.56. Following the sale, the chief executive officer now directly owns 286,881 shares in the company, valued at approximately $24,161,117.82. The disclosure for this sale can be found here. In the last three months, insiders have sold 232,371 shares of company stock worth $19,505,099. Insiders own 0.37% of the company’s stock.

Institutional Trading of Colgate-Palmolive

Several institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Colgate-Palmolive in the fourth quarter worth $731,843,000. Price T Rowe Associates Inc. MD grew its stake in shares of Colgate-Palmolive by 16.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,133,218 shares of the company’s stock worth $2,561,340,000 after purchasing an additional 4,625,472 shares in the last quarter. Magellan Asset Management Ltd grew its stake in shares of Colgate-Palmolive by 4,162.6% during the fourth quarter. Magellan Asset Management Ltd now owns 2,016,290 shares of the company’s stock worth $160,718,000 after purchasing an additional 1,968,988 shares in the last quarter. Confluence Investment Management LLC acquired a new position in shares of Colgate-Palmolive during the first quarter worth $130,622,000. Finally, FMR LLC grew its stake in shares of Colgate-Palmolive by 27.3% during the third quarter. FMR LLC now owns 5,597,742 shares of the company’s stock worth $398,055,000 after purchasing an additional 1,199,660 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

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.