UBS Group Boosts Colgate-Palmolive (NYSE:CL) Price Target to $106.00

Colgate-Palmolive (NYSE:CL) had its price objective upped by investment analysts at UBS Group from $100.00 to $106.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s target price suggests a potential upside of 12.63% from the stock’s previous close.

A number of other equities analysts have also weighed in on the stock. Rothschild & Co Redburn set a $100.00 price target on shares of Colgate-Palmolive and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Wells Fargo & Company raised their target price on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 8th. Citigroup boosted their target price on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday. Morgan Stanley restated an “overweight” rating on shares of Colgate-Palmolive in a research report on Monday, May 4th. Finally, TD Cowen reiterated a “hold” rating and set a $85.00 price objective on shares of Colgate-Palmolive in a research report on Tuesday, March 31st. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $96.94.

Colgate-Palmolive Price Performance

NYSE CL traded up $2.64 during mid-day trading on Thursday, hitting $94.11. The stock had a trading volume of 879,149 shares, compared to its average volume of 6,088,335. The firm’s 50 day moving average is $90.22 and its 200 day moving average is $88.41. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67. The stock has a market capitalization of $75.31 billion, a price-to-earnings ratio of 36.57, a PEG ratio of 4.80 and a beta of 0.33. Colgate-Palmolive has a twelve month low of $74.54 and a twelve month high of $99.33.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. The business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 earnings per share. Equities research analysts forecast that Colgate-Palmolive will post 3.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Colgate-Palmolive by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company’s stock worth $6,633,570,000 after purchasing an additional 1,026,985 shares during the last quarter. Geode Capital Management LLC increased its stake in Colgate-Palmolive by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company’s stock valued at $1,754,657,000 after purchasing an additional 304,426 shares during the last quarter. Morgan Stanley raised its holdings in Colgate-Palmolive by 1.7% during the fourth quarter. Morgan Stanley now owns 19,246,217 shares of the company’s stock worth $1,520,836,000 after purchasing an additional 323,367 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Colgate-Palmolive by 172.5% during the 1st quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock worth $1,067,211,000 after buying an additional 7,927,238 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at $861,670,000. 80.41% of the stock is owned by institutional investors and hedge funds.

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.