Colgate-Palmolive (NYSE:CL) Stock Price Target Raised at Royal Bank Of Canada

Colgate-Palmolive (NYSE:CL) had its price target boosted by Royal Bank Of Canada from $104.00 to $105.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada‘s target price suggests a potential upside of 8.69% from the company’s current price.

Other research analysts also recently issued reports about the company. Raymond James Financial increased their price objective on Colgate-Palmolive from $100.00 to $102.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Piper Sandler reduced their price target on Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, September 21st. TD Cowen raised their price objective on Colgate-Palmolive from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. Citigroup increased their price target on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Finally, Barclays upped their target price on Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $99.50.

Colgate-Palmolive Stock Up 1.4%

Shares of Colgate-Palmolive stock traded up $1.31 during trading on Monday, reaching $96.60. The company’s stock had a trading volume of 361,038 shares, compared to its average volume of 5,620,377. Colgate-Palmolive has a 1-year low of $74.54 and a 1-year high of $99.33. The company has a 50-day simple moving average of $89.54 and a two-hundred day simple moving average of $89.65. The company has a quick ratio of 0.30, a current ratio of 0.46 and a debt-to-equity ratio of 13.82. The company has a market cap of $77.01 billion, a price-to-earnings ratio of 38.02, a P/E/G ratio of 4.59 and a beta of 0.31.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, October 30th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The company had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.34 billion. Colgate-Palmolive had a return on equity of 607.88% and a net margin of 9.65%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same period last year, the business posted $0.91 earnings per share. As a group, equities analysts forecast that Colgate-Palmolive will post 3.89 earnings per share for the current year.

Insider Buying and Selling

In related news, Director John Cahill sold 4,170 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total value of $389,352.90. Following the sale, the director directly owned 28,373 shares in the company, valued at $2,649,187.01. This trade represents a 12.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Panagiotis Tsourapas sold 10,000 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $92.05, for a total transaction of $920,500.00. Following the sale, the chief operating officer owned 64,901 shares in the company, valued at $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. Insiders have sold a total of 175,191 shares of company stock valued at $16,110,903 in the last quarter. Company insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Colgate-Palmolive

A number of hedge funds have recently bought and sold shares of the company. Chicago Partners Investment Group LLC grew its stake in shares of Colgate-Palmolive by 26.3% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 28,514 shares of the company’s stock valued at $2,681,000 after purchasing an additional 5,940 shares during the period. Compass Financial Management LLC boosted its stake in shares of Colgate-Palmolive by 93.1% in the 3rd quarter. Compass Financial Management LLC now owns 1,757 shares of the company’s stock valued at $150,000 after purchasing an additional 847 shares in the last quarter. Rakuten Investment Management Inc. increased its position in shares of Colgate-Palmolive by 9.3% during the 3rd quarter. Rakuten Investment Management Inc. now owns 140,679 shares of the company’s stock worth $12,163,000 after purchasing an additional 11,986 shares in the last quarter. AIA Group Ltd boosted its position in Colgate-Palmolive by 140.5% in the third quarter. AIA Group Ltd now owns 47,369 shares of the company’s stock valued at $4,042,000 after buying an additional 27,670 shares in the last quarter. Finally, Provenance Wealth Advisors LLC bought a new stake in Colgate-Palmolive during the third quarter worth about $526,000. 80.41% of the stock is currently 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, mouthwash, liquid hand soap, body wash, deodorants, household cleaning products and pet food and treats.

The company markets well-known brands such as Colgate, Palmolive, elmex, meridol, Softsoap, Irish Spring, Ajax, Protex and Hill’s Science Diet. Colgate-Palmolive also provides veterinary and nutritional products through Hill’s Pet Nutrition, which serves pet owners and animal health professionals.

Founded in 1806 by William Colgate, the company developed from a soap and candle business into a diversified consumer goods manufacturer.