Colgate-Palmolive (NYSE:CL) Given New $105.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised Colgate-Palmolive’s price target to $105 from $104 while maintaining an “outperform” rating, implying 8.69% upside from the stock’s current price.
• Analyst sentiment remains positive overall, with 13 Buy ratings and seven Holds producing a “Moderate Buy” consensus and an average target of $99.50.
• Colgate-Palmolive recently beat quarterly expectations, reporting $0.97 in earnings per share versus $0.93 expected and $5.37 billion in revenue, up 4.6% year over year.

Colgate-Palmolive (NYSE:CL - Get Free Report) had its price objective boosted by analysts at Royal Bank Of Canada from $104.00 to $105.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's target price would indicate a potential upside of 8.69% from the stock's current price.

Several other brokerages also recently weighed in on CL. BNP Paribas Exane reduced their target price on shares of Colgate-Palmolive from $101.00 to $97.00 and set an "outperform" rating on the stock in a research note on Monday, September 28th. Raymond James Financial lifted their price target on shares of Colgate-Palmolive from $100.00 to $102.00 and gave the stock an "outperform" rating in a research note on Monday, August 3rd. Piper Sandler cut their price target on shares of Colgate-Palmolive from $98.00 to $95.00 and set an "overweight" rating on the stock in a report on Monday, September 21st. Barclays increased their price objective on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 21st. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $89.00 price objective (up from $88.00) on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Thirteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $99.50.

Colgate-Palmolive Trading Up 1.4%

Shares of Colgate-Palmolive stock traded up $1.31 on Monday, reaching $96.60. The company had a trading volume of 361,038 shares, compared to its average volume of 5,620,377. The firm has a market cap of $77.01 billion, a price-to-earnings ratio of 38.02, a P/E/G ratio of 4.59 and a beta of 0.31. The company has a debt-to-equity ratio of 13.82, a current ratio of 0.46 and a quick ratio of 0.30. The firm's 50-day moving average price is $89.54 and its two-hundred day moving average price is $89.65. Colgate-Palmolive has a 1 year low of $74.54 and a 1 year high of $99.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings results on Friday, October 30th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.04. The company had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.34 billion. Colgate-Palmolive had a return on equity of 607.88% and a net margin of 9.65%. Colgate-Palmolive's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.91 EPS. As a group, research analysts predict that Colgate-Palmolive will post 3.89 earnings per share for the current fiscal year.

Insider Transactions at Colgate-Palmolive

In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 10,000 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $92.05, for a total transaction of $920,500.00. Following the transaction, the chief operating officer directly owned 64,901 shares in the company, valued at $5,974,137.05. This represents a 13.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Noel R. Wallace sold 161,021 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the transaction, the chief executive officer owned 362,231 shares in the company, valued at approximately $33,296,273.52. The trade was a 30.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 175,191 shares of company stock valued at $16,110,903. 0.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Colgate-Palmolive

Several large investors have recently modified their holdings of the business. State Street Corp raised its stake in Colgate-Palmolive by 97.4% in the second quarter. State Street Corp now owns 94,195,992 shares of the company's stock worth $8,635,889,000 after buying an additional 46,476,510 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Colgate-Palmolive by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,532,417 shares of the company's stock valued at $1,240,652,000 after acquiring an additional 1,010,872 shares in the last quarter. First Eagle Investment Management LLC boosted its position in Colgate-Palmolive by 1.1% during the 2nd quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company's stock valued at $752,298,000 after acquiring an additional 88,917 shares in the last quarter. Amundi increased its holdings in shares of Colgate-Palmolive by 19.9% in the 2nd quarter. Amundi now owns 6,218,257 shares of the company's stock valued at $570,090,000 after acquiring an additional 1,033,918 shares during the period. Finally, Bank of America Corp DE purchased a new position in shares of Colgate-Palmolive in the 2nd quarter valued at $567,483,000. Institutional investors own 80.41% of the company's stock.

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.

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