JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Colgate-Palmolive (NYSE:CL) Stock

Colgate-Palmolive (NYSE:CL) had its target price hoisted by research analysts at JPMorgan Chase & Co. from $87.00 to $88.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 12.79% from the company’s previous close.

A number of other brokerages have also weighed in on CL. Deutsche Bank Aktiengesellschaft set a $86.00 price objective on shares of Colgate-Palmolive in a report on Friday, October 10th. Evercore ISI cut their target price on shares of Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Bank of America decreased their price objective on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. UBS Group lowered their target price on shares of Colgate-Palmolive from $92.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Finally, Citigroup dropped their price target on Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Ten investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $88.81.

Colgate-Palmolive Price Performance

Shares of CL stock traded down $1.71 during trading hours on Thursday, reaching $78.02. The stock had a trading volume of 1,947,229 shares, compared to its average volume of 5,551,323. The stock’s fifty day simple moving average is $78.31 and its 200 day simple moving average is $83.25. The firm has a market capitalization of $62.89 billion, a PE ratio of 21.88, a PEG ratio of 5.62 and a beta of 0.30. The company has a current ratio of 0.93, a quick ratio of 0.60 and a debt-to-equity ratio of 5.90. Colgate-Palmolive has a 12 month low of $74.54 and a 12 month high of $100.18.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.89 by $0.02. The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.17 billion. Colgate-Palmolive had a net margin of 14.47% and a return on equity of 333.39%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.91 EPS. On average, equities research analysts predict that Colgate-Palmolive will post 3.75 EPS for the current year.

Institutional Investors Weigh In On Colgate-Palmolive

Institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Colgate-Palmolive in the 2nd quarter valued at $960,390,000. Price T Rowe Associates Inc. MD increased its position in Colgate-Palmolive by 18.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock valued at $3,186,651,000 after acquiring an additional 5,269,140 shares during the period. Schroder Investment Management Group raised its stake in shares of Colgate-Palmolive by 242.3% during the second quarter. Schroder Investment Management Group now owns 5,324,115 shares of the company’s stock worth $483,962,000 after purchasing an additional 3,768,784 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Colgate-Palmolive by 3,052.2% in the 3rd quarter. Pacer Advisors Inc. now owns 2,697,047 shares of the company’s stock worth $215,602,000 after acquiring an additional 2,611,485 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its holdings in Colgate-Palmolive by 46.7% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company’s stock valued at $645,719,000 after purchasing an additional 2,572,796 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

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.