TD Cowen Begins Coverage on Colgate-Palmolive (NYSE:CL)

TD Cowen began coverage on shares of Colgate-Palmolive (NYSE:CL) in a research report sent to investors on Tuesday morning, Marketbeat.com reports. The firm issued a buy rating and a $110.00 target price on the stock.

Other equities analysts have also recently issued reports about the company. Citigroup raised their target price on Colgate-Palmolive from $103.00 to $112.00 and gave the stock a buy rating in a report on Wednesday, July 10th. Morgan Stanley raised their target price on Colgate-Palmolive from $101.00 to $103.00 and gave the stock an overweight rating in a report on Tuesday, May 28th. Barclays raised their target price on Colgate-Palmolive from $85.00 to $91.00 and gave the stock an equal weight rating in a report on Friday, July 19th. Stifel Nicolaus raised their target price on Colgate-Palmolive from $95.00 to $105.00 and gave the stock a buy rating in a report on Monday. Finally, Argus raised their target price on Colgate-Palmolive from $97.00 to $107.00 and gave the stock a buy rating in a report on Wednesday, May 15th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Colgate-Palmolive currently has a consensus rating of Moderate Buy and a consensus price target of $98.58.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $96.49 on Tuesday. The stock’s 50 day moving average is $95.72 and its 200 day moving average is $89.93. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 13.21. Colgate-Palmolive has a twelve month low of $67.62 and a twelve month high of $99.63. The company has a market capitalization of $79.16 billion, a P/E ratio of 30.53, a PEG ratio of 3.49 and a beta of 0.39.

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

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.07%. Colgate-Palmolive’s payout ratio is 63.29%.

Insider Activity

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

Institutional Trading of Colgate-Palmolive

Several institutional investors and hedge funds have recently modified their holdings of CL. E Fund Management Hong Kong Co. Ltd. bought a new position in Colgate-Palmolive in the second quarter worth approximately $25,000. Union Savings Bank raised its stake in 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 buying an additional 134 shares in the last quarter. PSI Advisors LLC raised its stake in Colgate-Palmolive by 4,971.4% in the first quarter. PSI Advisors LLC now owns 355 shares of the company’s stock worth $32,000 after buying an additional 348 shares in the last quarter. Continuum Advisory LLC raised its stake in Colgate-Palmolive by 46.5% in the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after buying an additional 125 shares in the last quarter. Finally, Avion Wealth raised its stake in Colgate-Palmolive by 78.1% in the fourth quarter. Avion Wealth now owns 399 shares of the company’s stock worth $32,000 after buying an additional 175 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

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.