Colgate-Palmolive (NYSE:CL) Price Target Raised to $97.00 at Wells Fargo & Company

Colgate-Palmolive (NYSE:CL) had its price objective raised by Wells Fargo & Company from $92.00 to $97.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other analysts also recently weighed in on CL. Morgan Stanley lifted their target price on shares of Colgate-Palmolive from $101.00 to $103.00 and gave the company an overweight rating in a report on Tuesday, May 28th. Citigroup lifted their price objective on Colgate-Palmolive from $95.00 to $100.00 and gave the company a buy rating in a report on Tuesday, April 16th. Argus increased their target price on Colgate-Palmolive from $97.00 to $107.00 and gave the stock a buy rating in a research note on Wednesday, May 15th. Stifel Nicolaus lifted their price target on Colgate-Palmolive from $94.00 to $95.00 and gave the company a buy rating in a research note on Monday, April 29th. Finally, Bank of America increased their price objective on Colgate-Palmolive from $90.00 to $100.00 and gave the stock a buy rating in a research report on Monday, April 29th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Colgate-Palmolive presently has an average rating of Moderate Buy and an average target price of $95.33.

Colgate-Palmolive Stock Performance

NYSE CL opened at $98.07 on Wednesday. The business’s 50-day moving average price is $95.12 and its 200 day moving average price is $88.89. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 13.21. The firm has a market cap of $80.46 billion, a P/E ratio of 31.03, a P/E/G ratio of 3.60 and a beta of 0.39. Colgate-Palmolive has a 52-week low of $67.62 and a 52-week high of $99.08.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, April 26th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. Colgate-Palmolive had a return on equity of 485.40% and a net margin of 13.22%. The business had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.96 billion. During the same quarter in the previous year, the company posted $0.73 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, equities research analysts expect that Colgate-Palmolive will post 3.53 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, July 19th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.04%. Colgate-Palmolive’s dividend payout ratio (DPR) is 63.29%.

Insider Activity at Colgate-Palmolive

In related news, insider Sally Massey sold 12,226 shares of Colgate-Palmolive stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the completion of the sale, the insider now owns 13,924 shares in the company, valued at approximately $1,309,691.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Sally Massey sold 12,226 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the sale, the insider now owns 13,924 shares in the company, valued at $1,309,691.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John W. Kooyman sold 3,497 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total transaction of $326,864.59. Following the completion of the sale, the insider now directly owns 3,181 shares of the company’s stock, valued at $297,328.07. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Colgate-Palmolive

Several large investors have recently added to or reduced their stakes in CL. Union Savings Bank boosted its position in shares of Colgate-Palmolive by 76.6% in the fourth quarter. Union Savings Bank now owns 309 shares of the company’s stock worth $25,000 after acquiring an additional 134 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Colgate-Palmolive in the 2nd quarter valued at $25,000. Avion Wealth grew its stake in shares of Colgate-Palmolive by 78.1% during the 4th quarter. Avion Wealth now owns 399 shares of the company’s stock valued at $32,000 after buying an additional 175 shares during the period. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive during the 4th quarter worth $32,000. Finally, PSI Advisors LLC raised its position in shares of Colgate-Palmolive by 4,971.4% in the 1st quarter. PSI Advisors LLC now owns 355 shares of the company’s stock worth $32,000 after buying an additional 348 shares during the period. 80.41% of the stock is currently owned by hedge funds and other 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.