Colgate-Palmolive (NYSE:CL) Price Target Raised to $93.00 at JPMorgan Chase & Co.

Colgate-Palmolive (NYSE:CL) had its price objective increased by JPMorgan Chase & Co. from $88.00 to $93.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 10.58% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Barclays dropped their target price on shares of Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 4th. Morgan Stanley cut their target price on Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating on the stock in a research note on Monday, November 3rd. Argus reissued a “hold” rating on shares of Colgate-Palmolive in a research report on Thursday, December 11th. Wells Fargo & Company set a $86.00 price objective on shares of Colgate-Palmolive and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Wednesday, October 8th. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.25.

Colgate-Palmolive Trading Down 0.3%

Colgate-Palmolive stock traded down $0.24 during midday trading on Friday, reaching $84.10. The stock had a trading volume of 1,708,073 shares, compared to its average volume of 6,963,339. The firm has a market cap of $67.79 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 5.73 and a beta of 0.30. The company has a fifty day moving average of $79.28 and a 200 day moving average of $81.86. Colgate-Palmolive has a 52-week low of $74.54 and a 52-week high of $100.18. The company has a quick ratio of 0.60, a current ratio of 0.93 and a debt-to-equity ratio of 5.90.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.02. The firm had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.17 billion. Colgate-Palmolive had a return on equity of 333.39% and a net margin of 14.47%.The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.91 earnings per share. On average, analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Colgate-Palmolive

Several hedge funds and other institutional investors have recently modified their holdings of the business. Brighton Jones LLC raised its position in shares of Colgate-Palmolive by 4.4% during the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after buying an additional 450 shares during the period. Woodline Partners LP raised its holdings in shares of Colgate-Palmolive by 76.3% in the 1st quarter. Woodline Partners LP now owns 46,361 shares of the company’s stock valued at $4,344,000 after buying an additional 20,062 shares during the period. Gateway Investment Advisers LLC lifted its stake in Colgate-Palmolive by 14.0% during the 2nd quarter. Gateway Investment Advisers LLC now owns 16,062 shares of the company’s stock worth $1,460,000 after acquiring an additional 1,977 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Colgate-Palmolive by 27.9% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 160,553 shares of the company’s stock worth $14,594,000 after purchasing an additional 35,059 shares during the period. Finally, Baader Bank Aktiengesellschaft lifted its position in shares of Colgate-Palmolive by 20.0% during the second quarter. Baader Bank Aktiengesellschaft now owns 4,681 shares of the company’s stock worth $420,000 after purchasing an additional 779 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Company Profile

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.