Sanford C. Bernstein Upgrades Colgate-Palmolive (NYSE:CL) to “Hold”

Colgate-Palmolive (NYSE:CL) was upgraded by research analysts at Sanford C. Bernstein to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

CL has been the subject of a number of other reports. Weiss Ratings upgraded Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Wells Fargo & Company cut their price objective on Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. The Goldman Sachs Group restated a “buy” rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. Barclays boosted their price objective on Colgate-Palmolive from $79.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 5th. Finally, Piper Sandler cut their price objective on Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $95.88.

Colgate-Palmolive Trading Up 0.0%

Shares of NYSE:CL opened at $89.40 on Thursday. Colgate-Palmolive has a 12-month low of $74.54 and a 12-month high of $99.33. The company has a market capitalization of $71.54 billion, a PE ratio of 34.79, a PEG ratio of 4.71 and a beta of 0.33. The business has a 50 day moving average of $86.85 and a two-hundred day moving average of $86.25. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.Colgate-Palmolive’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 earnings per share. As a group, analysts forecast that Colgate-Palmolive will post 3.81 EPS for the current year.

Hedge Funds Weigh In On Colgate-Palmolive

A number of hedge funds have recently modified their holdings of the business. HighPoint Advisor Group LLC lifted its stake in Colgate-Palmolive by 0.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 15,877 shares of the company’s stock worth $1,255,000 after acquiring an additional 109 shares in the last quarter. Clear Harbor Asset Management LLC lifted its stake in Colgate-Palmolive by 2.6% during the 4th quarter. Clear Harbor Asset Management LLC now owns 4,503 shares of the company’s stock worth $356,000 after acquiring an additional 113 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its stake in Colgate-Palmolive by 0.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,506 shares of the company’s stock worth $1,225,000 after acquiring an additional 114 shares in the last quarter. Gould Capital LLC lifted its stake in Colgate-Palmolive by 38.7% during the 1st quarter. Gould Capital LLC now owns 412 shares of the company’s stock worth $35,000 after acquiring an additional 115 shares in the last quarter. Finally, Sunpointe LLC lifted its stake in Colgate-Palmolive by 4.0% during the 4th quarter. Sunpointe LLC now owns 3,056 shares of the company’s stock worth $241,000 after acquiring an additional 117 shares in the last quarter. 80.41% of the stock is currently 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.