Colgate-Palmolive (NYSE:CL) Given New $101.00 Price Target at Evercore

Colgate-Palmolive (NYSE:CL) had its price objective boosted by Evercore from $100.00 to $101.00 in a research note released on Thursday. Evercore currently has an outperform rating on the stock.

Other equities analysts have also issued research reports about the stock. UBS Group raised their price objective on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Wells Fargo & Company cut their target price on shares of Colgate-Palmolive from $95.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Monday, October 5th. Weiss Ratings lowered Colgate-Palmolive from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 2nd. Piper Sandler decreased their target price on Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, September 21st. Finally, Barclays lifted their price target on Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Thirteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.11.

Colgate-Palmolive Trading Up 0.1%

Shares of CL opened at $88.19 on Thursday. The business’s 50-day moving average price is $89.10 and its 200 day moving average price is $88.77. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82. The stock has a market capitalization of $70.31 billion, a P/E ratio of 35.00, a P/E/G ratio of 4.11 and a beta of 0.33. Colgate-Palmolive has a 1-year low of $74.54 and a 1-year high of $99.33.

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

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Tuesday, October 20th. Colgate-Palmolive’s payout ratio is presently 84.13%.

Insider Activity at Colgate-Palmolive

In other news, Director John T. Cahill sold 4,170 shares of Colgate-Palmolive stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $93.37, for a total value of $389,352.90. Following the transaction, the director directly owned 28,373 shares in the company, valued at approximately $2,649,187.01. The trade was a 12.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Noel R. Wallace sold 161,021 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total value of $14,801,050.32. Following the transaction, the chief executive officer directly owned 362,231 shares of the company’s stock, valued at $33,296,273.52. This represents a 30.77% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 175,191 shares of company stock worth $16,110,903. 0.43% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. State Street Corp increased its position in Colgate-Palmolive by 97.4% during the second quarter. State Street Corp now owns 94,195,992 shares of the company’s stock worth $8,635,889,000 after acquiring an additional 46,476,510 shares during the period. Bank of New York Mellon Corp boosted its holdings in Colgate-Palmolive by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,532,417 shares of the company’s stock valued at $1,240,652,000 after purchasing an additional 1,010,872 shares during the period. First Eagle Investment Management LLC grew its position in Colgate-Palmolive by 1.1% in the 2nd quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company’s stock worth $752,298,000 after purchasing an additional 88,917 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Colgate-Palmolive by 17.4% during the 1st quarter. Bank of America Corp DE now owns 6,637,597 shares of the company’s stock worth $565,722,000 after purchasing an additional 986,063 shares during the period. Finally, Amundi lifted its stake in shares of Colgate-Palmolive by 19.9% in the second quarter. Amundi now owns 6,218,257 shares of the company’s stock valued at $570,090,000 after buying an additional 1,033,918 shares during the period. 80.41% of the stock is owned by institutional investors.

About Colgate-Palmolive

Colgate-Palmolive Company (NYSE: CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwashes, body washes, deodorants, soaps, household cleaning products and pet food and treats.

The company markets many of its products under well-known brands, including Colgate, Palmolive, elmex, meridol, Protex, Softsoap, Ajax, Irish Spring, Speed Stick, Tom’s of Maine and Hill’s Science Diet.