Colgate-Palmolive (NYSE:CL) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Colgate-Palmolive (NYSE:CL) from a hold rating to a buy rating in a research note published on Friday.

Other equities analysts have also issued reports about the company. Stifel Nicolaus decreased their target price on Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating on the stock in a research note on Monday, February 3rd. JPMorgan Chase & Co. raised their target price on shares of Colgate-Palmolive from $97.00 to $99.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Morgan Stanley cut their price target on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Raymond James restated an “outperform” rating and set a $105.00 price objective (down previously from $110.00) on shares of Colgate-Palmolive in a research report on Monday, February 3rd. Finally, UBS Group cut their target price on shares of Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.06.

Colgate-Palmolive Stock Down 4.4 %

CL stock opened at $91.75 on Friday. The stock has a 50-day simple moving average of $90.27 and a two-hundred day simple moving average of $93.28. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30. The firm has a market capitalization of $74.41 billion, a PE ratio of 26.06, a PEG ratio of 4.20 and a beta of 0.40. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.01. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. During the same quarter last year, the firm posted $0.87 EPS. On average, equities analysts predict that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Thursday, April 17th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s dividend payout ratio (DPR) is 59.09%.

Colgate-Palmolive declared that its Board of Directors has approved a stock repurchase plan on Thursday, March 20th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to purchase up to 6.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Colgate-Palmolive

Several large investors have recently modified their holdings of CL. Chicago Partners Investment Group LLC raised its holdings in Colgate-Palmolive by 16.2% in the 4th quarter. Chicago Partners Investment Group LLC now owns 6,752 shares of the company’s stock worth $591,000 after purchasing an additional 943 shares in the last quarter. Peak Financial Advisors LLC purchased a new position in shares of Colgate-Palmolive during the fourth quarter valued at about $1,315,000. Fiduciary Alliance LLC purchased a new stake in Colgate-Palmolive in the fourth quarter worth about $4,066,000. Impact Partnership Wealth LLC bought a new stake in Colgate-Palmolive during the 4th quarter valued at approximately $803,000. Finally, Barclays PLC grew its holdings in shares of Colgate-Palmolive by 38.7% during the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock worth $793,542,000 after acquiring an additional 2,132,747 shares during the period. 80.41% of the stock is owned by institutional investors.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.