Colgate-Palmolive (NYSE:CL) Stock Gets Price Target Increase from Evercore

Colgate-Palmolive (NYSE:CL) had its target price raised by Evercore from $100.00 to $101.00 in a note issued to investors on Thursday. The brokerage presently has an “outperform” rating on the stock. Evercore’s price objective would indicate a potential upside of 14.52% from the stock’s current price.

CL has been the topic of several other reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $104.00 price objective on shares of Colgate-Palmolive in a report on Tuesday, September 8th. JPMorgan Chase & Co. dropped their price target 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. Jefferies Financial Group reaffirmed a “hold” rating and set a $89.00 price target (up from $88.00) on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Citigroup lifted their price target 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. Finally, TD Cowen upped their price target on Colgate-Palmolive from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Monday, August 3rd. Thirteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $98.11.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $88.19 on Thursday. The firm has a market capitalization of $70.31 billion, a P/E ratio of 35.00, a PEG ratio of 4.11 and a beta of 0.33. The stock has a fifty day moving average price of $89.10 and a 200 day moving average price of $88.77. Colgate-Palmolive has a 52 week low of $74.54 and a 52 week high of $99.33. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82.

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

Insiders Place Their Bets

In other news, Director John T. Cahill sold 4,170 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total transaction of $389,352.90. Following the transaction, the director directly owned 28,373 shares of the company’s stock, 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 available at this hyperlink. Also, CEO Noel R. Wallace sold 161,021 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer owned 362,231 shares of the company’s stock, valued at $33,296,273.52. This trade represents a 30.77% decrease in their ownership of the stock. 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. Insiders sold a total of 175,191 shares of company stock worth $16,110,903 in the last 90 days. 0.43% of the stock is owned by company insiders.

Institutional Trading of Colgate-Palmolive

Several large investors have recently modified their holdings of CL. Corient Private Wealth LP boosted its holdings in Colgate-Palmolive by 29.0% in the second quarter. Corient Private Wealth LP now owns 639,604 shares of the company’s stock valued at $58,639,000 after purchasing an additional 143,812 shares during the last quarter. Bank of America Corp DE purchased a new stake in Colgate-Palmolive during the 2nd quarter worth approximately $567,483,000. Brandywine Financial Group raised its position in shares of Colgate-Palmolive by 35,612.3% in the 1st quarter. Brandywine Financial Group now owns 72,853 shares of the company’s stock valued at $6,209,000 after purchasing an additional 72,649 shares in the last quarter. SEB Asset Management AB purchased a new position in shares of Colgate-Palmolive during the 1st quarter valued at approximately $91,149,000. Finally, Robinhood Asset Management LLC acquired a new stake in shares of Colgate-Palmolive during the second quarter worth approximately $11,554,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Company Profile

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.