Colgate-Palmolive Company (NYSE:CL) Stock Has Consensus Target Price of $98.94 According to Brokerages

Colgate-Palmolive Company (NYSE:CL) has been assigned a consensus recommendation of “Moderate Buy” from the nineteen ratings firms that are covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $98.65.

CL has been the topic of a number of recent research reports. Piper Sandler dropped their target price on Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating on the stock in a report on Monday, September 21st. Wells Fargo & Company lowered their price objective on shares of Colgate-Palmolive from $95.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Monday. Morgan Stanley reissued an “overweight” rating and issued a $104.00 price objective on shares of Colgate-Palmolive in a research note on Monday, August 3rd. JPMorgan Chase & Co. cut their price objective on shares of Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. Finally, Citigroup lifted their target price on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 14th.

Insider Buying and Selling at Colgate-Palmolive

In other news, CEO Noel R. Wallace sold 161,021 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 362,231 shares of the company’s stock, valued at $33,296,273.52. This trade represents a 30.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Panagiotis Tsourapas sold 10,000 shares of Colgate-Palmolive 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 sale, the chief operating officer 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. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 175,191 shares of company stock valued at $16,110,903. 0.43% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CL. TD Capital Management LLC grew its stake in shares of Colgate-Palmolive by 61.4% during the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after purchasing an additional 124 shares during the period. Parvin Asset Management LLC acquired a new stake in shares of Colgate-Palmolive in the second quarter valued at about $32,000. Park Place Capital Corp lifted its stake in shares of Colgate-Palmolive by 55.5% in the second quarter. Park Place Capital Corp now owns 356 shares of the company’s stock valued at $33,000 after purchasing an additional 127 shares during the period. Gould Capital LLC boosted its holdings in Colgate-Palmolive by 38.7% during the first quarter. Gould Capital LLC now owns 412 shares of the company’s stock worth $35,000 after buying an additional 115 shares in the last quarter. Finally, Montgomery Financial Services LLC acquired a new position in Colgate-Palmolive during the second quarter worth about $36,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Trading Up 2.3%

Shares of Colgate-Palmolive stock opened at $86.21 on Tuesday. Colgate-Palmolive has a 1 year low of $74.54 and a 1 year high of $99.33. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03. The company has a market capitalization of $68.72 billion, a P/E ratio of 34.21, a PEG ratio of 3.93 and a beta of 0.33. The company’s fifty day moving average is $89.48 and its two-hundred day moving average is $88.74.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, beating 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 business had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.36 billion. During the same period in the prior year, the company earned $0.92 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. Analysts forecast that Colgate-Palmolive will post 3.87 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 20th will be given a $0.53 dividend. The ex-dividend date is Tuesday, October 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.5%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 84.13%.

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.