Colgate-Palmolive Company (NYSE:CL) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Colgate-Palmolive Company (NYSE:CL) have been assigned a consensus rating of “Moderate Buy” from the nineteen brokerages that are covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $97.8235.

A number of analysts recently weighed in on CL shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $99.00 price objective on shares of Colgate-Palmolive in a report on Monday, May 4th. Morgan Stanley reaffirmed an “overweight” rating on shares of Colgate-Palmolive in a report on Monday, May 4th. JPMorgan Chase & Co. increased their price target on Colgate-Palmolive from $96.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Bank of America lowered their price objective on Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, April 10th. Finally, Wells Fargo & Company lifted their price objective on Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 8th.

Institutional Investors Weigh In On Colgate-Palmolive

Institutional investors have recently modified their holdings of the company. Norges Bank bought a new stake in Colgate-Palmolive during the fourth quarter valued at $861,670,000. Bank of New York Mellon Corp raised its position in shares of Colgate-Palmolive by 172.5% in 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 acquiring an additional 7,927,238 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position 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 acquiring an additional 4,598,789 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at about $236,682,000. Finally, Deutsche Bank AG lifted its stake in shares of Colgate-Palmolive by 33.9% in the 4th quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock valued at $857,040,000 after purchasing an additional 2,746,920 shares during the period. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Trading Up 1.3%

CL opened at $91.69 on Thursday. Colgate-Palmolive has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. 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 firm has a market capitalization of $73.37 billion, a price-to-earnings ratio of 35.68, a PEG ratio of 4.77 and a beta of 0.33. The company’s 50 day moving average price is $90.70 and its two-hundred day moving average price is $88.86.

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 the consensus estimate of $0.94 by $0.03. The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations 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 was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 EPS. As a group, research analysts predict that Colgate-Palmolive will post 3.81 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be issued a dividend of $0.53 per share. The ex-dividend date is Monday, July 20th. This represents a $2.12 annualized dividend and a yield of 2.3%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 82.49%.

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.