Colgate-Palmolive Company (NYSE:CL) Receives $99.00 Consensus Price Target from Brokerages

Shares of Colgate-Palmolive Company (NYSE:CL) have earned an average rating of “Moderate Buy” from the nineteen analysts that are presently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $99.00.

CL has been the topic of several research reports. UBS Group boosted their target price on Colgate-Palmolive from $106.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Royal Bank Of Canada increased their price target on Colgate-Palmolive from $102.00 to $104.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Barclays lifted their price objective on Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. Citigroup boosted their price objective on Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Colgate-Palmolive in a report on Monday, August 3rd.

Colgate-Palmolive Trading Up 0.0%

Shares of CL stock opened at $88.80 on Friday. The company has a 50 day moving average of $91.88 and a 200-day moving average of $89.82. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. Colgate-Palmolive has a 12-month low of $74.54 and a 12-month high of $99.33. The firm has a market cap of $70.79 billion, a P/E ratio of 35.24, a PEG ratio of 4.14 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The company had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.36 billion. During the same quarter in the previous year, the firm posted $0.92 EPS. Colgate-Palmolive’s revenue was up 4.9% on a year-over-year basis. Sell-side analysts anticipate that Colgate-Palmolive will post 3.87 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, July 20th were given a $0.53 dividend. The ex-dividend date of this dividend was Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. Colgate-Palmolive’s payout ratio is 84.13%.

Insider Activity at Colgate-Palmolive

In other news, COO Panagiotis Tsourapas sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $92.05, for a total value of $920,500.00. Following the completion of the transaction, the chief operating officer directly owned 64,901 shares in the company, valued at approximately $5,974,137.05. This trade represents a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Noel R. Wallace sold 161,021 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the transaction, the chief executive officer directly owned 362,231 shares of the company’s stock, valued at approximately $33,296,273.52. This represents a 30.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 175,191 shares of company stock worth $16,110,903. Corporate insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CL. California State Teachers Retirement System raised its holdings in shares of Colgate-Palmolive by 8,327.8% in the 2nd quarter. California State Teachers Retirement System now owns 107,033,741 shares of the company’s stock valued at $9,812,853,000 after acquiring an additional 105,763,733 shares in the last quarter. Norges Bank purchased a new position in Colgate-Palmolive in the fourth quarter worth $861,670,000. Bank of New York Mellon Corp increased its stake in Colgate-Palmolive by 172.5% in the first quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock valued at $1,067,211,000 after acquiring an additional 7,927,238 shares during the last quarter. Bank of America Corp DE purchased a new stake in Colgate-Palmolive during the second quarter valued at about $567,483,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Colgate-Palmolive by 8,040.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock worth $380,666,000 after purchasing an additional 4,598,789 shares in the last quarter. 80.41% of the stock is owned by institutional investors.

About Colgate-Palmolive

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.