Colgate-Palmolive Company (NYSE:CL) Stock Has Average Target Price of $98.00 According to Analysts

Colgate-Palmolive Company (NYSE:CL) has earned a consensus rating of “Moderate Buy” from the twenty analysts that are currently covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $98.00.

Several research analysts have weighed in on CL shares. Bank of America reduced their target price on Colgate-Palmolive from $102.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, October 9th. UBS Group set a $106.00 price objective on Colgate-Palmolive in a research report on Thursday, October 15th. Piper Sandler lowered their target price on Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, September 21st. Morgan Stanley restated an “overweight” rating and set a $104.00 target price (up from $100.00) on shares of Colgate-Palmolive in a report on Monday, August 3rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Colgate-Palmolive from $103.00 to $104.00 and gave the company an “overweight” rating in a research note on Monday, October 19th.

Colgate-Palmolive Trading Down 1.1%

Shares of CL opened at $92.96 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. Colgate-Palmolive has a 12-month low of $74.54 and a 12-month high of $99.33. The firm has a market capitalization of $74.10 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 4.55 and a beta of 0.33. The stock’s fifty day simple moving average is $89.32 and its 200-day simple moving average is $89.31.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.04. The business had revenue of $5.36 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the business earned $0.92 earnings per share. As a group, research analysts predict that Colgate-Palmolive will post 3.87 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 20th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 84.13%.

Insider Buying and Selling

In other Colgate-Palmolive news, Director John T. Cahill sold 4,170 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $93.37, for a total transaction of $389,352.90. Following the completion of the transaction, the director owned 28,373 shares in the company, valued at approximately $2,649,187.01. This represents a 12.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Panagiotis Tsourapas sold 10,000 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $92.05, for a total value of $920,500.00. Following the transaction, the chief operating officer owned 64,901 shares of the company’s stock, valued at approximately $5,974,137.05. This trade represents a 13.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 175,191 shares of company stock worth $16,110,903 over the last ninety days. Company insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Center for Financial Planning Inc. grew its stake in shares of Colgate-Palmolive by 0.7% during the 3rd quarter. Center for Financial Planning Inc. now owns 21,661 shares of the company’s stock worth $1,848,000 after acquiring an additional 149 shares in the last quarter. Park Avenue Securities LLC raised its holdings in shares of Colgate-Palmolive by 3.8% in the third quarter. Park Avenue Securities LLC now owns 10,240 shares of the company’s stock valued at $874,000 after purchasing an additional 373 shares during the last quarter. Verdence Capital Advisors LLC lifted its position in shares of Colgate-Palmolive by 10.3% in the third quarter. Verdence Capital Advisors LLC now owns 4,609 shares of the company’s stock worth $393,000 after purchasing an additional 430 shares in the last quarter. Patton Albertson Miller Group LLC lifted its position in shares of Colgate-Palmolive by 25.9% in the third quarter. Patton Albertson Miller Group LLC now owns 7,228 shares of the company’s stock worth $617,000 after purchasing an additional 1,488 shares in the last quarter. Finally, B.O.S.S. Retirement Advisors LLC acquired a new position in Colgate-Palmolive during the third quarter worth $247,000. 80.41% of the stock is 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, 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.