JPMorgan Chase & Co. Issues Positive Forecast for Colgate-Palmolive (NYSE:CL) Stock Price

Colgate-Palmolive (NYSE:CL) had its price objective raised by investment analysts at JPMorgan Chase & Co. from $103.00 to $104.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 11.35% from the stock’s previous close.

Several other brokerages have also recently issued reports on CL. Jefferies Financial Group reiterated a “hold” rating and set a $89.00 price target (up from $88.00) on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Citigroup raised their target price on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $101.00 target price (up from $99.00) on shares of Colgate-Palmolive in a report on Monday, August 3rd. Weiss Ratings cut shares of Colgate-Palmolive from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 2nd. Finally, Barclays lifted 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 equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus price target of $98.00.

Colgate-Palmolive Stock Performance

NYSE CL traded down $0.71 on Monday, hitting $93.40. The stock had a trading volume of 2,381,419 shares, compared to its average volume of 5,667,837. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. The company’s 50-day moving average is $89.05 and its two-hundred day moving average is $89.05. The stock has a market cap of $74.46 billion, a price-to-earnings ratio of 37.07, a P/E/G ratio of 4.55 and a beta of 0.33. Colgate-Palmolive has a one year low of $74.54 and a one year high of $99.33.

Colgate-Palmolive (NYSE:CL) last announced 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 company had revenue of $5.36 billion during 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 quarter in the previous year, the firm posted $0.92 EPS. On average, analysts expect that Colgate-Palmolive will post 3.87 earnings per share for the current year.

Insider Transactions at Colgate-Palmolive

In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 10,000 shares of the business’s stock in a transaction 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 sale, the chief operating officer owned 64,901 shares of the company’s stock, valued at $5,974,137.05. The trade was a 13.35% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Noel 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 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 position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, 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 Trading of Colgate-Palmolive

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cooper Financial Group lifted its position in shares of Colgate-Palmolive by 4.0% in the second quarter. Cooper Financial Group now owns 2,947 shares of the company’s stock valued at $270,000 after acquiring an additional 114 shares in the last quarter. Gould Capital LLC raised its stake in shares of Colgate-Palmolive by 38.7% in the 1st quarter. Gould Capital LLC now owns 412 shares of the company’s stock valued at $35,000 after acquiring an additional 115 shares during the period. Redhawk Wealth Advisors Inc. boosted its position in shares of Colgate-Palmolive by 2.8% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 4,326 shares of the company’s stock worth $397,000 after purchasing an additional 118 shares during the period. SVB Wealth LLC lifted its position in shares of Colgate-Palmolive by 1.4% during the second quarter. SVB Wealth LLC now owns 8,767 shares of the company’s stock worth $804,000 after purchasing an additional 119 shares in the last quarter. Finally, Cornerstone Planning Group LLC boosted its stake in shares of Colgate-Palmolive by 32.8% in the first quarter. Cornerstone Planning Group LLC now owns 486 shares of the company’s stock valued at $42,000 after purchasing an additional 120 shares during the period. 80.41% of the stock is 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.